The Toronto Housing Board has indicated as of data from April 2017 that there has been a 33% increase in newly listed homes since the same time period in 2016. In addition to this, Google Trends released a report indicating that the terms "Housing Bubble" is now gaining significant traction for online queries, in fact, it has now reached peak in comparison to the previous 17 years.
A recent study (still under completion) is in its preliminary stages indicating that millenials are suffering from buyers remorse with the purchase of their first mortgages.
Is the tide changing? Let us know your thoughts below.
So is this the beginning to a crash in Canada. United states is worse, however we like to paper over our problems.
I respectfully disagree silvertom1. Canada's economy is dependent on two things:
With oil prices low, our oil sands and economy have taken a significant hit that has resulted in higher inflation and a lower Canadian dollar.
IF the housing market begins to correct, the first casualty will be the lumber mills and once they slow down production, it will result in slower housing development which will crush the housing market altogether as people who have poured their life savings and equity into real estate go running through the exit door only to realize they're jumping off a cliff.