Canada’s housing market is experiencing a slowdown in homebuying activity, which is allowing for an increase in inventory, according to the Canadian Real Estate Association (CREA). In July, national home sales decreased by 0.7% compared to the previous month. CREA stated that the housing market has been stabilizing after a bustling spring, as the Bank …
Canada’s new housing and infrastructure minister, Sean Fraser, believes that closing the door to newcomers is not the solution to the country’s housing crisis. Instead, he advocates for building more homes to accommodate higher immigration levels. Fraser was sworn in as part of a cabinet shuffle aimed at showcasing a fresh team ahead of the …
As the summer heat settles in Canada, cottages are becoming more affordable, but rising inflation and interest rates are putting a damper on the plans of first-time buyers, according to real estate experts. With the Bank of Canada recently raising its key interest rate and the possibility of future hikes, it’s worth considering whether now …
The wealth gap in Canada between the rich and the poor has reached a historic high in the first quarter of 2023, as reported by Statistics Canada. This increase in the wealth gap can be attributed to high inflation rates and declining real estate values. During this timeframe, the net worth gap grew by 1.1 …
According to Statistics Canada, Canada welcomed over 145,000 immigrants in the first quarter of this year, marking the highest number for a single quarter since 1972 when comparable data became available. Released on Wednesday, the quarterly population estimates from the federal agency show that Canada’s population continues to grow at a rapid pace. The population …
This article is part of Global News’s Home School series, designed to provide Canadians with essential information about the housing market that they may not have learned in school. For first-time homebuyers, it can be overwhelming to search for available properties online. Listings vary greatly from one neighborhood to another, and without answers to important …
According to a new report published by Royal LePage, a quarter of first-time homebuyers in Canada are relying on financial assistance from sources outside of their immediate families to make their mortgage payments. This trend is attributed to rising home prices and higher interest rates, which make it increasingly difficult for young Canadians to afford …
In May, Canada’s housing market experienced continued growth, but experts believe that the Bank of Canada’s decision to raise interest rates could slow down the rebound. The Canadian Real Estate Association (CREA) reported that sales increased in 70% of local markets last month. Compared to the previous month, sales activity rose by 5.1%, and there …
As governments throughout Canada work towards constructing more affordable housing, some rental market residents feel forgotten and neglected. These individuals want Premieres to take action during their next meeting. One such resident is Beverly Henry, a retired senior residing in Toronto whose rent has increased by over $400 in only nine years. Rentals.ca reports that …