Editor’s Edition: ‘Real Estate is going to take a back seat’
Canada’s housing market is still strong and prices remain up sharply since the start of the pandemic, but things continue to cool down in the Greater Toronto Area (GTA) and the Vancouver area. Some market watchers say real estate could slow down even more as vaccines roll out, and people look for other things to do with their time and money.
Meanwhile, there’s been a lot of debate if adding supply is the answer to housing affordability, or if curbing demand is the way to go. Some argue high levels of immigration have created an imbalance.
The Bank of Canada says it's looking at how its actions may have added to wealth inequality, by boosting house prices. NDP leader Jagmeet Singh has ideas on how to level the playing field.
We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.
They shared their thoughts on where they see the markets going and why rapidly rising prices aren’t healthy.
If you have questions, email them to jessybains@yahoofinance.com and John or Steve will answer them on the next episode.
Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.
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