Canadian Housing Market

[Mike Oliveira]

Hello everyone in the Canadian real estate world. I'm here to start a discussion on what everyone here thinks is going to happen to the markets here in Canada(more concerned about Ontario but don't want to leave anyone out). So things we know the government has and is doing like the new mortgage rules,tax on foreign investors in B.C, and tax rebates for first home buyers. This along with banks like TD and RBC rising there mortgages just about a week ago... We know they are trying to cool off the hot rising prices. I think the government isn't really doing much to help first time buyers with the tax rebate and if anything made it harder for them to get financing with the new rules. I do believe the new rules will slow the down the market which needed some kind of slow down as some would say. Another thing to look at though would be the Toronto area and Vancouver area on a global scale in terms and livability are 2 of the top cities and there housing prices are well below other top cities like New York. So you could say that our top cities  still have room to run. On another note the foreign buyers from Vancouver have shifted there investments to Toronto so in turn that would drive up prices even higher you would think. I think that new rules and rates will be affecting the first time buyers and those with lower incomes/capital investing.Those with lots of capital and available financing probably won't be to much affected? Not too sure  Obviously there is always a way to find financing but will the prices on houses start to drop now?  Will be stop seeing the 20+ percent gains and starting seeing the more modest 5-8 percent gains in the near future? I know no one has a crystal ball and cannot predict the future but this is all opinion and looking for your opinion. I have been debating on purchasing the next property to flip due to what may or may not happen. As for my regular buy and hold rentals I am not concerned on what the market does as I do not speculate on appreciation and stick to the fundamentals of investing because we all know its not about timing the market but time in the market for investments like that. All and all I think the market will slowly cool off into 2017 and keep cool for some time after that. 

[Matt Geerts]

There are 3472 cities, towns, villages in "The Canadian Market". You've mentioned two. Some of those will crash, some will skyrocket, some will stumble and others will turn around. And within every one of those 3472, you will find some streets will rise, some streets will fall, some streets will stagnate. And in every one of those streets some houses will be great deals.

And most of them don't play to the whims of Toronto and Vancouver politics.

Find a deal. Do the deal. Make money.