Mondrian condos West District calgary.Canadian house prices are out of control. A number of investors from the United Kingdom and the United States have poured into the Canadian real estate market and put pressure on the property market to collapse, including Steve Eisman, a fund manager known for shorting.Please Visit: Mondrian condos West District calgary to Get Your VVIP Registration Today!
Subsequently, these people were educated by the Canadian property market and lost all their money.
In 2020, many countries around the world launched a frenzy of monetary easing and large-scale liberalisation of lending to boost the economy, booming to start the money printing machine.
Printing money has started, commodities and raw materials have also risen, and now Canadian wood prices have doubled and construction costs have soared.
Not only raw materials, but also transport and logistics labor costs have risen, spread to the lower level, layer by layer, and in 2021, the Canadian property market began to soar.
House prices in Toronto, Canada have risen since 2021. In June, Canadian house prices rose by more than 38% compared with the same period in 2020, and Canadian house prices rose to as fast as $700000.
Just now, I was only talking about the average price in Canada.
Toronto is the largest city in Canada, and the average selling price of housing in the Greater Toronto area reached a record 1.1 million, 8453 yuan.
With this growth momentum, Canadian house prices will rise to 2022, and there will still be double-digit growth in many places.
House prices have gone up, ordinary Canadians are crying.
First throw a word, housing affordability index, what does it mean, is your family’s annual income, do not eat or drink, how long you can buy a suite.
As house prices skyrocketed and the housing affordability index in Vancouver and Toronto rose rapidly, the affordability of Canadian cities deteriorated seriously.
Don’t eat or drink for 30-50 years before you can buy a suite.
Vancouver, which now has the second heaviest housing burden in the world, has risen to its highest level in 31 years.
The housing bubble in Vancouver and Toronto ranks second and fifth in the world.
In fact, house prices in Canada are 46% higher than those in the United States, taking into account purchasing power and exchange rate factors.
Moreover, before COVID-19, the housing supply in Canada had reached its lowest point in 14 years, which caught up with another epidemic and reduced the country’s inventory to less than three months.
Now the situation is that not only house prices but also rents have gone up, and the monthly rent of an apartment costs 1000 Canadian dollars, and there are 40 people waiting in line to get it.
This will cost the life of the renter if he can’t afford to buy a house.
A recent survey by the Royal Bank of Canada found that more than 1/3 of Canadians are pessimistic that they can no longer afford to buy a house.
You only know one, not the other.
Although Canada has a total area of about 10 million square kilometers, you should know that most parts of Canada are cold and it is difficult for human beings to survive.
Most Canadians are concentrated in a few big cities not far from the border of the United States.
The land supply of these cities, facing great population pressure, is nearing its limit.
Canada is one of the developed countries with relatively loose immigration policies.
For example, even under the global epidemic, the Canadian border is still relaxed, and you can easily get in.
Between 2015 and 2020, Ontario, Canada increased its immigrant population by nearly one million.
The slow release of inventories in the property market, the lack of government housing supply to keep up with population growth, and the stimulus of monetary easing credit have caused house prices in many parts of Ontario to rise by more than 30-50%.
The surge in house prices has brought Canada into the era of real estate speculation.
In fact, the real estate market has kidnapped the Canadian economy, and Canada’s real estate bubble has been growing relatively uncontrollably.
Data from the Bank for International Settlements show that among developed countries, the market capitalization of Canadian real estate market accounts for the highest proportion of economic size, and the proportion of absorbing investment capital is also the highest.
For a long time, Canadian households’ wealth growth has been mainly due to the booming real estate market.
Quarterly growth of 10%, annual growth of 38%, property value rose by C $600 billion, both the increase and the value are a record.
Through real estate speculation, this makes many people realize the freedom of wealth.
As house prices continue to rise, many Canadians are beginning to think that Canada’s housing market is foolproof and that it is a profitable long-term investment.
Canadians, who believe that house prices in their own country only rise, do not fall.
Rigid demand customers smashing pots and selling iron began to enter the market, afraid that house prices will not be able to afford it after rising again, so hurry to take advantage of the opportunity to buy a nest.
Lars Reese-Hansen, from the small town of Comox on Vancouver Island, is retiring. Last fall, he sold a separate house that he had lived in for many years and planned to buy a smaller one in his favorite location.
Unexpectedly, until now, this plan of Reese has not been realized. On the one hand, house prices are rising faster than he expected; on the other hand, many listed houses are almost snapped up as soon as they are listed.
Now he regrets that the house he sold has gone up by 20%, and he has the money and can’t find it anymore.
Now the Canadian real estate market, has completely changed, fully entered the seller’s market, has abandoned rigid demand.
Many speculative tenants began to enter the venue.
The West side of Vancouver is the most expensive place for warm housing prices, equivalent to Jing’an in Shanghai, Xicheng in Beijing, Futian in Shenzhen, Yuexiu in Guangzhou, Shangcheng in Hangzhou and Zhengdong New area in Zhengzhou.
It is in this high-priced area that more than 75 per cent of houses worth more than 3 million Canadian dollars and 1500 yuan are bought by Chinese.
Now, not only new houses, but also second-hand houses are also hot.
As soon as your house is listed, hundreds of people will come to participate in the auction, and the final buyer will have to pay a 20% premium to buy an apartment.
Don’t be afraid of being expensive, the more expensive it is, the more people will rob and attract more people to come and speculate.
When the people’s rigid demand sees this kind of posture, they will buy houses desperately, regardless of how much money they spend. I believe that the government will only let house prices go up. The market is generally irrational.
Experts have called on the government to take urgent measures to curb house prices. It’s no use!
The economy has been riddled with holes as a result of the epidemic, how to cool house prices without catastrophic consequences.