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Between 1986 and 1989, housing costs in Toronto increased by 150%, the highest four-year price escalation to date. [21] Average house prices declined by over 27% in Greater Toronto from 1989 to 1996. [22] Vancouver’s first housing bubble burst in 1981, the second declined gradually in 1994. [23]
Housing economists point to five main reasons that the market will not crash anytime soon: low inventory, lack of new-construction housing, large amounts of new buyers, strict lending standards ...
Housing security emerged as a major concern, with 58% of respondents expressing anxiety about their ability to maintain mortgage or rent payments. [34] Young Canadians aged 18–44 were particularly impacted, with housing costs affecting major life decisions including family planning and geographic mobility.
“A crash happens with oversupply,” Yun says. “A 30 percent decrease will not happen, because there isn’t enough inventory.” He believes the housing supply will balance out within five years.
Much of the data surrounding this year's housing market points toward a delicate recovery period -- perhaps softening the pain of continued Fed rate increases. While signs are pointing upward ...
If you’re waiting for a housing market crash, or a correction in prices that will make your dream home more affordable, the data shows you’re not alone. Single-family home sales in September ...
Not that long ago, the housing market was on fire. "Prices for homes were at astronomical highs just two years ago, brought on by serious demand from buyers and historically low inventory," said...
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