Blog by Andrew Peck

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Is our housing market at risk?

Is our housing market at risk?

Today, the International Monetary Fund reported that Canadian households are highly indebted and housing affordability, particularly in Vancouver and Toronto, has become a social issue with many first-time buyers priced out of the markets. 

The IMF advises Canada that housing market imbalances should be a joint responsibility of both the federal and provincial authorities and recommends more tax-based measures to mitigate speculative and investment activity and more safeguards when it comes to government-backed mortgage insurance.

Does this mean our housing market is at risk?

The housing market is showing signs of moderation across Canada, according to CREA data.

Our latest quarterly forecast predicts slightly lower levels of sales as well as slower rates of price increase for most of Canada.

This should help mitigate the rise in household debt and aid financial system stability.

Today, Stats Canada released GDP data which finds the Canadian economy grew at a 3.7% annual rate in the first quarter of 2017 compared to 2.6% in the fourth quarter.

This indicates a healthy, growing economy with minimal housing risk from the economy.

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Is our housing market at risk?

May 31st, 2017
Is our housing market at risk? Today, the International Monetary Fund reported that Canadian households are highly indebted and housing affordability, particularly in Vancouver and Toron...Click here to read more detail about 'Is our housing market at risk?'

Moving towards a National Housing Strategy

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Moving towards a National Housing Strategy The Canadian Real Estate Association and its member real estate boards and associations across Canada have long advocated for better access to ...Click here to read more detail about 'Moving towards a National Housing Strategy'

What are the key challenges we face as a profession?

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Will a luxury or speculation tax create more affordable housing?

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Will a luxury or speculation tax create more affordable housing? In the last month, both the Mayor of Vancouver and economists from the University of British Columbia and Simon Fraser Un...Click here to read more detail about 'Will a luxury or speculation tax create more affordable housing?'