Redfin CEO Predicts Prolonged Sales Slump as Housing Market Hits Rock Bottom

Sundry Photography/Shutterstock The CEO of Redfin, Glenn Kelman, believes the housing market has reached its lowest point, in spite of its dire condition. Mortgage rates and home prices are prohibitively high, negatively impacting affordability for potential homebuyers. Kelman forecasts a prolonged sales slowdown and the continuation of a grim market landscape. The only comforting aspect …

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Uncovering the Mysteries Behind Biden’s Challenges: The Impact of TikTok Economics

The bleak economic outlook on TikTok, particularly among the younger generation, suggests a growing disconnect between the overall positive economic data and people’s negative sentiments. Despite positive job opportunities and rapid economic growth, many young people are focusing on ongoing issues such as housing affordability, which is reflected in polls and surveys. Reaching millions of …

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Experts Predict Slow Progress in Price Reductions as GST is Removed on Rental Builds – National Updates

The removal of GST for rentals in Canada by the federal government is a positive step towards increasing housing affordability. However, experts believe that its impact on rents will not be immediate. Prime Minister Justin Trudeau recently announced the removal of the five per cent tax, a promise that was initially made during the Liberal …

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Minister Affirms Ottawa’s Consideration of Reviving Home Construction; Conversations Initiated

The federal government is facing increasing pressure to address the housing supply shortage in Canada. As opposition leader Pierre Poilievre criticizes the government for unaffordable housing, the minister in charge of the housing portfolio is exploring new approaches to tackle the issue. The rising levels of immigration and the impact of rising interest rates have …

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The Impact of Rate Hikes on July’s Housing Market: Returning to the Sidelines – National Perspective

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 …

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Minister argues that Federal government’s presence in housing should have continued

Decrease article font size Increase article font size Housing Minister Sean Fraser argues that the federal government should never have abandoned the housing sector, as even high-income professionals struggle to find affordable housing. According to Fraser, federal governments of various political affiliations have neglected affordable housing for decades, leading to the current housing crunch. He …

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Are housing matters under the purview of the federal government? Experts argue its significance may be insignificant – National.

Chris Burke and his fiancée have spent the past three years trying to save for their first home, but they keep encountering obstacles. The first challenge was saving for a down payment, and now rising interest rates have pushed their homeownership dreams even further away. This setback has not only stalled their plans to get …

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‘Many are choosing to ‘Plant New Roots’ as residents leave Canada’s costly provinces in an exodus’

Introducing “New Roots,” a groundbreaking series by Global News that delves into the profound changes in communities across Canada due to shifting migration patterns and affordability challenges brought on by the COVID-19 pandemic. “Alberta is calling” declares the bold ads plastered across Toronto’s bustling transit system. These eye-catching advertisements, part of a direct recruitment campaign …

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