Langstaff Gateway Condos toronto. Thoroughly enter the era of property speculation with exorbitant profits! 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: Langstaff Gateway Condos toronto 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.
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.
It can be said that there is a serious shortage of rooms in Canada! 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.