South forest hill residences.What is the catastrophic impact of the Canadian housing market? House prices across Canada have risen 34 per cent since the COVID-19 pandemic in March 2020. At present, the average house price in the country has risen to 780000 yuan ($604000), compared with almost half of that in Canada, at $312000 in the United States.Please Visit: South forest hill residences to Get Your VVIP Registration Today!
During the COVID-19 pandemic, house prices in Canada were growing at an alarming rate, while house prices in some cities were out of control. At a time when young people at home are struggling with how to own their own homes, a large number of overseas buyers are pouring into the market, trying to make a lot of money out of the market. What is disturbing, however, is that the federal government of little Durudo has not issued appropriate regulation and control policies. It is feared that as time goes by, Canada will face a more serious “housing crisis”.
House prices across Canada have risen 34 per cent since the COVID-19 pandemic in March 2020. At present, the average house price in the country has risen to 780000 yuan ($604000), compared with almost half of that in Canada, at $312000 in the United States.
It soared during the pandemic, but people’s incomes did not increase, making housing more and more unaffordable. Robert Hogue, chief economist of the RBC, points out that the housing affordability of Canadians has fallen to its lowest level in 31 years. Among the G7, Canada’s “household income-to-house price ratio” (The ratio of household income to home, a measure of house price affordability) has soared far more than any other country.
As for the reason for the soaring house prices, Holland, a real estate professor at the University of Vancouver Island, says the first is persistently low interest rates. “this is a good policy for most industries that are looking forward to recovery. But in our real estate industry, it’s a super shot in the arm, “Holland said.
The second is inflation. During the economic downturn, most governments have introduced enhanced monetary stimulus (money printing), coupled with extremely low interest rates to stop the economic slowdown, so inflation is almost the current situation in western countries. However, the Canadian government has gone further than other countries.
