Will Canada’s Housing Market lose steam in 2022? What will 2022 have in store for Canadian Homeowners, First Time Buyers, and Renters? One major forecast is calling for a downturn especially as interest rates start to rise. There is 1 scenario where interest rates can really shake up the Canada’s housing market
It has been another insane year for Canada’s housing Market. Extra froth in the market, driven by investors fueling perceptions that prices will keep rising, has prompted the Bank of Canada to recently warn of an increased risk of a correction
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0:00 Intro – Canadian Housing Forecast 2022
0:52 Housing Market Losing Steam?
2:30 Will Canadian Housing Prices Rise?
6:02 The Perfect Storm
If we see four or more rate increases in 2022, this should take some demand out of the market, especially from interest rate-sensitive investors. Those investors who are highly leveraged, rapid rising rates will have a major impact on cash flows
For many first-time home buyers, prices have climbed beyond their reach and a supply shortage of housing units has only made things worse. Investors, house ‘flippers,’ and speculators, who according to the Bank of Canada account for over 20 per cent of home purchases
Out-of-reach housing prices will push increased Canadians to rentals, especially if they must live close to where they work. Canada’s largest real estate brokerages is forecasting massive growth across the country next year, with markets rising to 20% over the next 12 months.
Toronto’s Housing Market is expected to rise a modest 7% and a Vancouver’s Housing Market 13%. Falling interest rates have boosted growth so far, but they’re expected to rise in 2022.
Canadian Real estate is has risen due to intensified demand coming from homebuyers migrating from Ontario and British Columbia while supply remained low. Housing prices in Canada are expected to increase in 2022
How would you describe Canada’s housing market? Another trend impacting real estate in Canada will continue is inter-provincial migration as investors look for more affordable places to set up home and shop. This migration is also expected to have an impact on Vancouver real estate and Toronto real estate.
The housing market has allowed for remote work which has really granted people to set up in ways that weren’t possible before the pandemic. Real estate investing in Canada has also seen tremendous demand, but with interest rates rising in 2022, rate sensitive investors will have to look elsewhere
High demand for Housing market in Canada has forced short supply in areas with high demand due to migration. Housing market Canada 2022 may be driven by a combination of factors such recession-induced low mortgage rates, remote work allowing buyers to stretch further away from their workplace
Toronto real estate market has forced buyers who can transact, will continue stretching their budgets as much as possible without letting up. The problem with Ontario’s housing market is there won’t be enough homes to satisfy all that demand next year unless something drastic happens
Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video, please, always do your own due diligence!
#HousingMarket #CanadianRealEstate #HousingForecast
Originally published at https://www.youtube.com/watch?v=TCBu4IzDfSY
This news story originally appeared at Real Estate - Trend Magazine on 4 August 2022