Housing Minister Ahmed Hussen, pictured at a Liberal caucus meeting in West Block on Feb. 2. With interest rates all but guaranteed to rise in the coming months, the affordability gap is set to widen—making the path to homeownership even more unattainable, writes Daniel Dubois.For the second year in a row, the Canadian housing market continued its record-breaking rise in price growth and home value.
According to the Canadian Real Estate Association’s home price index, which adjusts for pricing volatility, the typical price of a home rose 26.6 per cent in December compared to the previous year, hitting a new high of $811,700. In urban cities like Toronto, that number has scaled to over $1-million. For many young Canadians, these astronomical prices make homeownership an impossible goal. Enjoy unlimited website access and the digital newspaper.
Source: News Formal (newsformal.com)
Government regulations destroy the housing market
Begin with the TrudeauHousesWillBuildThemselvesPM end in mind. Visit
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rising rates to cool Ontario housing market more than pre-election promisesMortgages are fast becoming more expensive with the Bank of Canada signalling multiple hikes this year. Economists are betting on a rare half-point increase in April
Source: globeandmail - 🏆 5. / 92 Read more »
Opinion: It’s time for Russian diplomats in Canada to go homeIt is repugnant that we pretend to any normalcy in diplomatic relations with Russia, given the horrific war crimes in Ukraine Check on mom Wait....they are still here? Why ,? If u are doing that Why not deport PRC diplomats when they held Canadian as hostage?
Source: globeandmail - 🏆 5. / 92 Read more »
'It's all great memories': Sask. high school uncovers 27-year-old forgotten time capsuleA time capsule created in 1995 by students from a Moose Jaw, Sask. high school was recently discovered 18 years after it was intended to be opened.
Source: CTVNews - 🏆 1. / 99 Read more »
World stocks sink amid worries over U.S. rate hikes, RussiaGlobal stock markets and Wall Street futures sank Wednesday after a Federal Reserve official's comments fuelled expectations of more aggressive U.S. rate hikes and the White House announced more sanctions on Russia.
Source: CTVNews - 🏆 1. / 99 Read more »
Indigenous leader calls on N.L. to apologize for province's union with CanadaAn Indigenous leader says it's time for Newfoundland and Labrador's government to apologize for leaving Indigenous groups out of the province's agreement with Canada when it joined the country in 1949. 🤣 Oh ffs. This is really getting tedious. Waste of time and mental resources dwelling and worrying past wrongs, omissions, and mistakes from past historical eras, apology never cancels the past nor lessens nor improves the history.
Source: CTVNews - 🏆 1. / 99 Read more »
The real problem behind Canada's out-of-control housing marketThis week, as part of a special series for first-time homebuyers, DowntoBusiness takes a look at what’s happened in the residential real estate market over the last 50 years — via financialpost podcast housingmarket Economy financialpost Question - where are first time buyers getting the money to buy into the hyper-expensive homes? financialpost I have a guess what have contributed! His name is Junior and he and his party incompetency is for sure to be blamed!
Source: nationalpost - 🏆 10. / 80 Read more »