Hey I'm looking for Canadians who are into real estate of have a track of current trends in it. It is interesting to know how the business is doing after the new rules related to down payment. Is it just a huge bubble?? I would love to invest in Canada if the new down payment is beneficial. Reference of new down payment rules: https://www.butlermortgage.ca/mortgage-news/mortgage-down-payments-different-but-not-so-bad/ (Butler Mortgage blog)
Any Canadians?
Started by HeraldOtoole [1981493] on in General Non-related.
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Hey I'm looking for Canadians who are into real estate of have a track of current trends in it. It is interesting to know how the business is doing after the new rules related to down payment. Is it just a huge bubble?? I would love to invest in Canada if the new down payment is beneficial. Reference of new down payment rules: https://www.butlermortgage.ca/mortgage-news/mortgage-down-payments-different-but-not-so-bad/ (Butler Mortgage blog)
I'll be canadian!
Most of the new rules are intending to curtail the rapid-rise in real estate prices in Vancouver, Calgary/Edmonton belt and the GTA. Though the 500k threshold is largely an attempt to restrict higher-risk borrowers from buying a downtown condo in Vancouver or Toronto and to slow down the market. It's been over-valued country-wide by 10-15% minimum.
That's not to say there aren't buying opportunities, the maritimes are a buyers market, if the oil downturn continues I suspect parts of the prairies and NFLD will be too.
You must be a millionaire if you want to buy real estate in Vancouver!