There is very little consensus among economists, however, most agree that the market will be softer in 2021.
Second COVID-19 wave will impact real estate
The second wave is expected to mess with real estate markets.
EQUIFAX: Consumer Debt is Up with Renewed Mortgage Activity
Total Outstanding Debt Climbs to $1.991 Trillion
Average rent in Canada down 7.6% year over year
Rents for one- and two-bedroom apartments and condominium rentals are down year over year.
Why are the surrounding suburbs of Toronto so expensive?
GTA Suburbs are expensive because of a combination of low mortgage rates and a housing stock deficit.
Most Canadian Baby Boomers Unlikely to ‘Age-in-Place’
The average Canadian still retires at 65 - a milestone most Baby Boomers will have achieved in less than 5 years.
Today’s Common Trends in Canadian Real Estate
Regardless of the city, these are some common trends affecting home values.
OPINION: The case for a simple fixed Canadian mortgage stress test
How to simplify the mortgage stress test for consumers and reduce home price volatility.