Canada’s housing market has good reason to be rising despite 4.5 percentage points of Bank of Canada interest rate hikes since March last year. But policy-makers are taking steps to contain risks stemming from the housing market and analysts expect prices to start dropping. “I’m pretty sure the Bank of Canada is not happy seeing…
What Could Be in Store for Canadian Home Prices
June 28, 2023
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Bank of CanadaBusiness & MarketsCanadaeconomyGlobal Real EstatehousingOSFIpersonal financereal estateWorld
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ANALYSIS: As Canada’s Population Hits 40 Million, Economists Warn of Strain on Housing Market, Health System
As Canada’s population reaches the milestone of 40 million people, economists and housing experts are warning that accelerating immigration numbers could strain the country’s housing market and health-care system. “My first reaction is that it’s great for the people coming to the country, but maybe it’s not so great for the people in the country,”…
Home Prices Down Nearly 17 Percent in San Francisco, Erasing More Than $330 Billion in Value
San Francisco’s housing market has retreated from record highs last April, with sales volume collapsing and pricing down double digits—approximately five times the decline recorded nationally. Prices fell 3.3 percent across the country since last year, with values in San Francisco plummeting 16.7 percent, according to Redfin—an online real estate listing company. This decline represents…
Home Prices Down 17 Percent in San Francisco, Erasing More Than $330 Billion in Value
San Francisco’s housing market has retreated from record highs last April, with sales volume collapsing and pricing down double digits—approximately five times the decline recorded nationally. Prices fell 3.3 percent across the country since last year, with values in San Francisco plummeting 16.7 percent, according to Redfin—an online real estate listing company. This decline represents…
Business Sector Disappointed With South Australia’s Budget
Unions have applauded South Australia’s big spending budget, but the business sector has lamented the lack of support for local companies and traders amid a cost-of-living crisis. SA Treasurer Stephen Mullighan described the Labor government’s budget delivered on Thursday as “the largest package of cost-of-living relief measures ever deployed in South Australia”. The budget focused…
Toronto Mayoral Candidates Square Off on Housing
The leading candidates for mayor in Toronto all agreed that housing affordability is probably the biggest issue facing the city. “They’re choosing between living and eating, and that’s not right,” said Mitzie Hunter, one of six mayoral candidates at a debate put on by the University of Toronto’s School of Cities. “Housing is a human…
Australian Greens Refine Demands on $10 Billion Housing Fund
June 12, 2023
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AustraliaAustralian GreensBusiness & Marketseconomic policieshousingJim Chalmersmax-chandler matherWorld
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The Greens are holding firm on their demands for renters as talks continue on the federal government’s proposed multibillion-dollar housing fund. Crunch time is approaching for the government’s $10 billion housing future fund legislation, which is due to hit the Senate during the upcoming sitting fortnight. The $10 billion would be invested to generate returns…
Finnish Company Admares Plans $750 Million Modular Housing Factory in US, Hiring 1,400
WAYCROSS, Ga.—Finnish company Admares plans to invest $750 million to build a modular housing factory in the U.S. state of Georgia, hiring 1,400 people, officials announced Wednesday. The company plans to mass produce housing using heavily automated factories. Admares, which was founded in Turku, Finland, said it’s in the process of relocating its headquarters to…
Majority of Top 10 Least Affordable Cities for Homebuyers Located in California
Eight out of the 10 least affordable cities for homebuyers in the United States are located in California, according to a recent report, with the state’s median sales price of a home over 30 percent higher compared to the early pandemic period. The eight Californian cities include Santa Barbara, Berkeley, Santa Monica, Glendale, Burbank, Los…
Political and Environmental Restrictions Could Drive Housing Supply to New Lows: Report
Party politics and rules imposed by the government’s adviser for the natural environment in England could lead to see the net housing supply drop considerably, the Home Builders Federation (HBF) has warned. The housing supply could drop by up to 122,000 homes per year, HBF said in its March report (pdf), adding that in 2021/22…
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