Gerry’s Blog
With Canada’s public health crisis at the 20-month mark, housing prices in Ontario continue to break records, month after month. Ontario MLS® home sales represented the third-best September in history. Across the province, home sales were 6.4% above the five-year average and 11.8% above the 10-year average for the month. Given September marks the start…
Canadians have enjoyed low interest rates for the last decade, but even more so since the onset of the global pandemic, when the Bank of Canada responded with a trio of rate cuts, bringing us to 0.25%, where we currently sit. In its latest interest rate announcement on December 8, 2021, the Bank held the…
This year, the Canadian housing market has been on fire, recording enormous gains and tremendous sales activity. As the country’s housing sector faces a supply squeeze, an affordability crisis has been looming from the Prairies to the Maritimes. This has left many young families and first-time homebuyers struggling to achieve the Canadian Dream. With the…
What is the Bank of Canada’s current policy interest rate? When does the Bank of Canada announce its overnight rate? When is the next announcement? What factors did Bank of Canada consider in its latest decision? Bank of Canada’s Overnight Interest Rate The Bank of Canada has announced that it is maintaining its record-low key interest…
Confidence continues in Canadian real estate market, with the inter-provincial relocation trend likely to remain strong in 2022 Migration between provinces expected to continue in 2022, potentially impacting local Canadian real estate conditions, according to 53 per cent of RE/MAX brokers (20 out of 38) 49 per cent of Canadians believe the housing market will…
Perhaps you have been wondering how a young family living in a detached home in Toronto or Vancouver can afford it. It could be that they already own another home. In fact, they may possess multiple homes as part of their investment strategy, new research has discovered. It’s no secret that the red-hot Canadian housing…
Moose Jaw, Saskatchewan is considered one of the best small municipalities to live in Canada, and one of the province’s fastest-growing cities in terms of population, investment and job formation. This southern Saskatchewan city has a deeply intriguing history, including connections to Al Capone and the underground Tunnels of Moose Jaw. Its rich heritage and…
What a wild ride the Toronto real estate market has endured over the last 20 months! At the onset of the coronavirus pandemic, there was a widespread belief that one of the world’s hottest housing markets was going to witness a steep decline in sales and valuations. Yet, fast forward to autumn 2021: housing prices…
The BC housing market may have had a slow recovery in the immediate aftermath of the first wave in the coronavirus pandemic, but since the summer of 2020, activity has been soaring. While Vancouver dominates the real estate news headlines, the entire region is performing remarkably well, with tremendous sales activity, immense price growth, and…
Is Canada experiencing a national housing affordability crisis or a regional one? Many headlines dominating national newspapers suggest the entire country has become unaffordable. While British Columbia, Ontario and even Atlantic Canada have experienced record-breaking price gains and sales activity, Canada’s prairie provinces have been leading the charge for housing affordability. Alberta, Manitoba and Saskatchewan…
Owning a home is a keystone of wealth… both financial affluence and emotional security.