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With the marked growth of Canada’s economy and population, housing prices are unusually strong. Back in the early days of the outbreak, it was predicted that the impact of this wave would be extraordinary and could destroy the real estate market. It is not just some local investors and analysts who think so. The Canadian Home loan Association (CMHC) even predicts that overall housing prices will fall by 9-18% as a result of fiscal tightening as a result of the epidemic.
However, it is unexpected that the entire housing market has exploded after the blockade was lifted, and people’s “retaliatory” demand has pushed prices higher than they were before the epidemic.
As the current market is still in the process of slowly repairing, the data of all parties are not very comprehensive. However, there are still many reasons for the possibility of a future rise in the housing market.
The most direct reason why the housing market will not collapse is due to a series of remedial measures taken by the Canadian government. When the epidemic began to break out on a large scale, many people were trapped at home, and some even lost their jobs because of the closure of their businesses. Once this momentum continues, it will deal a fatal blow to the economy. Fortunately, the government quickly opened the door to the treasury and implemented a series of policies such as CERB subsidies and other related subsidies to keep the economy from recession.
It is precisely because the CERB and subsequent alternative subsidies have sent real gold and silver to Canadians that they have the ability to borrow money from banks, to repay loans, and to keep the housing market stable.
Looking ahead, in fact, there are many factors intertwined. Record low lending rates encourage more people to borrow money to buy homes. In the short term, the situation of “demand exceeds supply” is also secretly encouraging those who have been suppressed by the “epidemic” to flock to the housing market.
At the same time, the phenomenon is that some suburban housing market is very active, generating much more dividend income than the urban area, which shows that more people want to move out of the urban area.