Weekly Market Update April 16/21

787 sales in Calgary in a week, crazy, Edmonton has moved up a inch, it is slow growth here.

Can we make it to $500,000 before Trudeau kills everything?

Low-interest rate is the factor of the price increase. Buy a house is cheaper than rent now.

Re: The low end of the Canadian market and the high end of the Canadian market (over a million) should take a hit after the end of May this year.

On of the longest bear markets in history non-inflation adjusted is finally over. It lasted about exactly 14 years.

Hopefully the low interest rate will help pay for the national debt.

The US federal reserve is now saying 2024 is the earliest rates will rise. I anticipate that the Bank of Canada will align pretty closely with this timeline.

Link?

Here's the link: https://www.ft.com/content/3d7704d3-a312-4294-95bc-90233f469ccd

Fantastic! I think later this year we'll be well over $500k for an average SFD. Plus we still have a lot of room before we catch up to some other Canadian cities.

Sharon,
The national debt will never be paid off. Ever.

Budget:
One percent tax on foreign buyers of our local homes, nothing said about the stress test moving from 4.79 to 5.25 yet. No changes to capital gains tax, no wealth tax yet, no changes to the capital gains tax yet. Cars over $100 grand Canadian hit with a luxury tax. Nothing is stated whether that is the base price or the "all in" price. Talk about raising the minimum wage to $15 a hour which will put hundreds of thousands of present day workers out of a job in Canada at the worst possible time.

The one percent tax on foreign buyers' is an empty home/homes tax.

$15 minimum wage only applies to federal workers. Minimum wage for all citizens is a provincial matter.

I just read that a house in Toronto went for $800,000 over the asking price.

https://toronto.ctvnews.ca/this-tiny-toronto-house-just-sold-for-800k-over-asking-1.5072243

Oh, sorry... that was from Aug 2020.
I guess that house is worth $3 million now.