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返咁多日
你係咪覺得會跌
手上有啲cash
手上有啲cash
點估到
嚟咗呢度之後細膽咗
唔敢隨便請假
唔敢隨便請假
腳巴睇黎財力雄厚
我地筆錢淨係夠比2 成首期
我地筆錢淨係夠比2 成首期
跌緊la
手上有啲cash-you?
手上有啲cash-you?
https://toronto.ctvnews.ca/historic-housing-correction-is-underway-in-ontario-rbc-says-this-is-how-much-prices-could-fall-1.6002502
A "historic" housing correction is now underway in Canada and costlier markets in Ontario and British Columbia are likely to be the "epicentre" of the downturn, a new report from RBC suggests.
Greater Toronto Area housing prices soared during the pandemic and were up nearly 36 per cent year-over-year as recently as February.
But the Bank of Canada’s aggressive interest rate hiking campaign has weighed on the market since then, which has now seen four consecutive months of price declines.
RELATED STORIES
BoC interest rate hike will have a 'dramatic effect' on Canadians, especially homeowners: economist
GTA home prices dropped for fourth consecutive month in June
In its report, released last week, RBC said that it now expects the average home prices across Canada to decline by approximately 12 per cent from the February peak by early 2023.
It says that if that does indeed materialize it would “rank as the steepest correction of the past five national downturns.”
The bank, however, says that the correction will play out differently depending on your market.
It says that housing could be “more resilient,” in markets that are already relatively affordable, with prices only projected to fall by about three per cent in Alberta and Saskatchewan and between five and eight per cent in the majority of other provinces.
But the bank warns that buyers in high-priced markets like Ontario and British Columbia will be “especially sensitive to interest rates” and could find themselves on the sidelines in greater numbers.
That, in turn, could lead to a more significant correction in those markets.
“Our forecast has home resales in British Columbia and Ontario cumulatively sagging 45 per cent and 38 per cent respectively, in 2022 and 2023, setting the stage for a home price index drop exceeding 14 per cent from quarterly peak to trough in both provinces,” the report states. “The magnitude of the downturn would rival that of the early-1990s in Ontario (when resales fell 41 per cent and prices 15 per cent) though come well short of the early 1980s’ episode in British Columbia (when resales slumped 62 per cent and prices 27 per cent).”
The Bank of Canada has increased its key overnight lending rate from 0.25 per cent to 2.5 per cent over the last several months in a bid to curb inflation and has warned that more hikes will likely be necessary.
In its report, RBC said that it now expects the overnight rate will reach 3.25 per cent by October.
That, combined with higher mortgage stress test qualifying rates, will “hamper stretched-out buyers in every region of the country” and ultimately bring about a “material correction,” the bank says.
However, RBC economist Robert Hogue does point out in the report that the bank does not anticipate a “collapse” in house prices at this point.
“We’d argue the unfolding downturn should be seen as a welcome cooldown following a two year-long frenzy that put a huge financial burden on many new homeowners and made ownership dreams harder to achieve,” he said. “While a more severe or prolonged slump cannot be ruled out, we expect the correction to be over sometime in the first half of 2023—lasting approximately a year—with some markets likely stabilizing faster than others. Solid demographic fundamentals (including soaring immigration) and a low likelihood of overbuilding should keep the market from entering a death spiral.”
The latest data from the Toronto Region Real Estate Board suggested that sales were down 41 per cent year-over-year in June while the average home price was still up five per cent from the previous June to $1,146,254.
A "historic" housing correction is now underway in Canada and costlier markets in Ontario and British Columbia are likely to be the "epicentre" of the downturn, a new report from RBC suggests.
Greater Toronto Area housing prices soared during the pandemic and were up nearly 36 per cent year-over-year as recently as February.
But the Bank of Canada’s aggressive interest rate hiking campaign has weighed on the market since then, which has now seen four consecutive months of price declines.
RELATED STORIES
BoC interest rate hike will have a 'dramatic effect' on Canadians, especially homeowners: economist
GTA home prices dropped for fourth consecutive month in June
In its report, released last week, RBC said that it now expects the average home prices across Canada to decline by approximately 12 per cent from the February peak by early 2023.
It says that if that does indeed materialize it would “rank as the steepest correction of the past five national downturns.”
The bank, however, says that the correction will play out differently depending on your market.
It says that housing could be “more resilient,” in markets that are already relatively affordable, with prices only projected to fall by about three per cent in Alberta and Saskatchewan and between five and eight per cent in the majority of other provinces.
But the bank warns that buyers in high-priced markets like Ontario and British Columbia will be “especially sensitive to interest rates” and could find themselves on the sidelines in greater numbers.
That, in turn, could lead to a more significant correction in those markets.
“Our forecast has home resales in British Columbia and Ontario cumulatively sagging 45 per cent and 38 per cent respectively, in 2022 and 2023, setting the stage for a home price index drop exceeding 14 per cent from quarterly peak to trough in both provinces,” the report states. “The magnitude of the downturn would rival that of the early-1990s in Ontario (when resales fell 41 per cent and prices 15 per cent) though come well short of the early 1980s’ episode in British Columbia (when resales slumped 62 per cent and prices 27 per cent).”
The Bank of Canada has increased its key overnight lending rate from 0.25 per cent to 2.5 per cent over the last several months in a bid to curb inflation and has warned that more hikes will likely be necessary.
In its report, RBC said that it now expects the overnight rate will reach 3.25 per cent by October.
That, combined with higher mortgage stress test qualifying rates, will “hamper stretched-out buyers in every region of the country” and ultimately bring about a “material correction,” the bank says.
However, RBC economist Robert Hogue does point out in the report that the bank does not anticipate a “collapse” in house prices at this point.
“We’d argue the unfolding downturn should be seen as a welcome cooldown following a two year-long frenzy that put a huge financial burden on many new homeowners and made ownership dreams harder to achieve,” he said. “While a more severe or prolonged slump cannot be ruled out, we expect the correction to be over sometime in the first half of 2023—lasting approximately a year—with some markets likely stabilizing faster than others. Solid demographic fundamentals (including soaring immigration) and a low likelihood of overbuilding should keep the market from entering a death spiral.”
The latest data from the Toronto Region Real Estate Board suggested that sales were down 41 per cent year-over-year in June while the average home price was still up five per cent from the previous June to $1,146,254.
跌都冇用啦
未拎到PR都唔會買住
未拎到PR都唔會買住
Scooter有冇巴打玩緊？邊款好？
有啲 cash咁啦
Condo唔算跌好多 in markham
Condo唔算跌好多 in markham
如果無細路我覺得唔使選markham
落番士嘉堡都有d 區ok
落番士嘉堡都有d 區ok
https://markham.listing.ca/condo-price-history.htm
Average sales price 2022
February $780,000
June $707,500
10% drop from Feb to June
Average sales price 2022
February $780,000
June $707,500
10% drop from Feb to June
要face-to-face interview你都冇得避啦
以為你zoom in
以為你zoom in
都跌幾多
its not over yet
儲夠錢買到house 我就夠
香港做開保安過到去可以做咩工？
house 間間都一球以上
townhouse 都8,90
在於住，其實house 係正既
但真係有d 多左
因為呢度就算2房都700,800呎
已經係香港3房既size
townhouse 都8,90
在於住，其實house 係正既
但真係有d 多左
因為呢度就算2房都700,800呎
已經係香港3房既size