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Canada’s Foreign Buyer Ban: Missing the Mark? Despite its intentions, the foreign home buyer ban has done little to address Canada’s housing crisis. Experts like Corey B. agent at @MortgageSavvy, highlight that local demand continues to drive the market. "What we’ve seen is that the demand from local buyers—especially end-users and domestic investors—has remained high, largely due to persistent supply shortages," says Bahadur. The real issues lie deeper: zoning laws, construction delays, and labor shortages are exacerbating supply shortages, while rising material costs make new developments harder to launch. In the Greater Toronto Area, zoning laws limit access to multi-family units like condos and townhouses, further straining affordability. Meanwhile, the luxury market remains resilient. "High-net-worth individuals are less impacted by rising interest rates and see luxury properties as secure investments," adds Bahadur. If we’re going to solve Canada’s housing challenges, we need bold changes to increase supply and improve affordability across all price points. Read More News Here: https://lnkd.in/gnuQ5qBh #HousingCrisis #ForeignBuyerBan #RealEstate #AffordableHousing #Insurely

Mortgage Updates: What’s Next for Canada’s Housing Market? With less than 30 days until Canada’s new mortgage rules take effect, industry experts are cautiously optimistic about their impact. Damon Steele, Director of Partnerships and mortgage broker at Pilot Mortgage Group, explains, "Buyers are anticipating the changes, but the current landscape remains challenging. While interest rates are forecasted to come down, they are still restrictive both in terms of cost and qualification." The updated rules are expected to spark activity in the $1-1.5 million market segment, leveraging higher price caps and extended amortization periods. However, challenges persist, especially for first-time buyers who face high borrowing costs and limited supply. "This imbalance between supply and demand is what keeps prices elevated and affordability out of reach for many buyers," says Steele. While policy changes may ease financial strain, they don’t address the root cause: a critical housing supply shortage, particularly in urban centers like Vancouver. Long-term solutions to increase affordable and mid-range housing stock are key to creating sustained affordability. Read more here: https://lnkd.in/gjpwKaxF #HousingCrisis #MortgageRules #RealEstate #SupplyAndDemand #Insurely

Are there signs of recovery in Canada's housing market? After a challenging 2023, real estate professionals see glimmers of hope with an 8% increase in housing starts and potential immigration reforms. Sellers are adapting to market conditions, as Van Cropsal, Real Estate Agent at RE/MAX ÉLITE - Québec, notes, "Last year was a big low for us, and this year sellers are starting to understand the new market." Yet, first-time buyers continue to face steep challenges. Cropsal highlights, "For first-time buyers, it’s going to be tougher because prices and lifestyle costs are high right now. The downpayment is so high, and many rely on parental assistance." While lower interest rates have led to increased buyer activity, limited inventory keeps competition fierce. The new 30-year amortization terms may help some buyers, but with higher lifetime costs, the journey to true market stability remains an uphill battle. #HousingMarket #RealEstate #FirstTimeBuyers #MarketRecovery #Insurely Read More at The Insurely News Desk: https://lnkd.in/g_8Fgci3

Decoding Canada’s Housing Crisis: It's Not Just About Foreign Buyers Canada’s housing market faces unprecedented challenges, but experts like Ringo So from 360Lending and Marshall Tully from Marshall Tully, Mortgage Broker - Tullymortgages.ca agree that foreign buyers are far from the sole issue. "While Canada tops the list of countries with the most international buyers at 13%, the actual impact on real estate prices is minimal," explains Ringo So, highlighting that less than 2% of recent property purchases were by non-Canadians. Marshall Tully adds, “Our supply shortage will become more severe in 3–5 years as delayed projects further constrain availability.” He calls for a focus on re-zoning and incentivizing builders to increase inventory and address the housing supply crisis effectively. Both emphasize the need for government intervention. "We need to re-zone land, build infrastructure, and encourage population growth beyond city centers," says So. It’s clear: solving Canada’s housing crisis requires structural changes, not scapegoating. Let’s focus on long-term solutions. #HousingCrisis #RealEstate #PolicyChange #SupplyAndDemand #Insurely Read more at the Insurely News Desk Here: https://lnkd.in/gtBTvEpm

🏠 New Mortgage Rules vs. Housing Supply Crisis: Are We Missing the Mark? Canada's recent mortgage changes—raising the insured cap and reintroducing 30-year terms—aim to make homeownership more accessible. Yet experts like Jennine Yool of @The Mortgage Centre argue that without addressing the core issue, affordability will remain out of reach. "We definitely have an affordability crisis, but I think it's largely stemming from the fact that we just have a supply crisis." Jason Dornstauder AMP, head broker at FOCUS Mortgage Solutions Inc., adds that while 30-year terms may lower monthly payments, they come at a high cost. "That difference is about $140 a month savings from 25 years to 30 years. But... it's $44,000 more in interest cost for that extra five years." True solutions need to focus on expanding housing supply to meet rising demand. #HousingCrisis #MortgageRules #SupplyAndDemand #RealEstate #Insurely Read More Here: https://lnkd.in/gdf-wmCD

Canada’s Housing Crisis: Breaking Through NIMBY Barriers Canada’s housing shortage is worsening, fueled by NIMBY opposition and legislative roadblocks. As experts stress, overcoming this sentiment is critical to increase housing supply and affordability. With 3.5 million homes needed by 2030 and the market struggling—especially in Toronto’s condo sector—bold policy changes are essential. As Scott Broady notes with Broady Windsor Group, "We need a significant increase in mid-tier housing supply to meet demand." Let’s focus on solutions that truly address the crisis. Read More Here: https://lnkd.in/gtNSxtS8 #HousingCrisis #RealEstate #AffordableHousing #Insurely

Beyond Rate Cuts: Are New Mortgage Rules Enough? Canada’s latest mortgage changes raise the insured cap to $1.5M and extend 30-year amortization periods. While this helps some buyers, experts like Katie Steinfeld from On The Block Realty Inc. Brokerage caution that it won’t solve the deeper affordability crisis. "We are facing a critical moment where home prices remain out of reach for many Canadians, even with recent changes." It's clear that alternative measures are needed to address supply and affordability issues long-term. Read More Here: https://lnkd.in/gtrnAzeB

Are Canada’s New Mortgage Rules More Show Than Substance? The federal government’s latest move—raising the insured mortgage cap to $1.5 million and extending amortization periods—aims to tackle housing affordability. But experts like Benjamin Sammut of @Sammut Consulting Services believe these changes won’t ease access for average buyers. Instead, they could simply drive prices higher and benefit wealthier purchasers. As Sammut puts it, “These changes won’t make it easier for buyers—they’ll simply inflate prices in an already constrained market.” Read More Here: https://lnkd.in/gjXP2-Qb

Transforming the GTA: The Clove Unveiled! 🏙️ Mattamy Homes and QuadReal Property Group have revealed the final designs for The Clove, a key part of the Cloverdale Mall redevelopment. This project will add over 600 condos starting from $400,000 and aims to create a vibrant mixed-use community with more than 5,000 new units, retail space, and public parks. As Niall Haggart, President of Mattamy’s GTA Urban Division, states, “this game-changing partnership offers high-quality housing and long-term value to future residents.” Read More Here: https://lnkd.in/gmDR3sH4

Leadership Change at The Peak Group of Companies! Jeff Kinnaird, former The Home Depot executive, is the new President & CEO of The Peak Group, bringing 27 years of retail expertise to the company. “After 27 incredible years at The Home Depot, it was time to hang up my orange apron and return to Canada,” says Jeff. As home renovation trends continue to rise, his leadership will be pivotal in expanding Peak’s footprint in North America and beyond. Congratulations, Jeff! Read more here: https://lnkd.in/da8aq8kt