Hello, everyone. I provide you with Canada’s news headlines for real estate news for today.
Why did Canadian confidence in housing just take a hit?
According to BuzzBuzzNews,
Canadians have lost confidence in the potential for local home prices to increase as two recent developments cast long shadows over the country’s real estate market.
Some 46 per cent of Canadians expect home prices to rise in their neighbourhoods in the next six months, according to the latest weekly poll results from Nanos Research Group, published May 19th.
The share, though historically high, is down from 47.7 per cent in the preceding week and a record-setting 50.1 per cent recorded the week before that.
The detail is here.
Canada Must Deflate Its Housing Bubble
According to Bloomberg,
Canada’s housing market offers a case study in a contentious economic issue: If a central bank sees a bubble forming, should it act to deflate it? In this instance, the answer should be a resounding yes.
A combination of foreign money, local speculation and abundant credit has driven Canadian house prices to levels that even government officials recognize cannot be sustained. In the Toronto area, for example, they were up 32 percent from a year earlier in April.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Leaside Real Estate Listings? Contact Me!
Also published on Medium.
