We have to separate the GTA and Vancouver onto another data metric of its own because it does not account for the rest of Canada. Edmonton and Calgary are polar opposite.
Well, the rate cuts will no doubt help new buyers secure mortgages or qualify for higher valued housing. Out of interest i checked the average house prices from 2019 to projected 2025 on Statistica...the average home price went from 502000.00 to 722000.00 over this period of time. So, inflation took its toll (actually it was government overspending with consequent B of C Quantitative easing that is to blame). Now the feds have increased the high end of CMHC insured mortgages to cover the tracks of their poor economic policies. On the issue of developers and pre-sales....no doubt the government was under considerable pressure to make things somewhat less odious as you indicate.
It’s worth noting the median rent is based off CMHC rental numbers which lag horribly behind the real world, but that’s a conversation for another time.
Indeed. Government agencies always get things wrong.
We have to separate the GTA and Vancouver onto another data metric of its own because it does not account for the rest of Canada. Edmonton and Calgary are polar opposite.
Well, the rate cuts will no doubt help new buyers secure mortgages or qualify for higher valued housing. Out of interest i checked the average house prices from 2019 to projected 2025 on Statistica...the average home price went from 502000.00 to 722000.00 over this period of time. So, inflation took its toll (actually it was government overspending with consequent B of C Quantitative easing that is to blame). Now the feds have increased the high end of CMHC insured mortgages to cover the tracks of their poor economic policies. On the issue of developers and pre-sales....no doubt the government was under considerable pressure to make things somewhat less odious as you indicate.
It’s worth noting the median rent is based off CMHC rental numbers which lag horribly behind the real world, but that’s a conversation for another time.
Indeed. Government agencies always get things wrong.