Canadian mortgage delinquencies at all time high.
Sales figures way down resulting in stagnating inventory.
Please, please lets see a pullback. I welcome it. Doubt we ever see a true buyers market in Canada though.
Inventory is still shit in my region. Seems there was some give towards buyers favor in recent months, but we are many months away from juicy buyers market.
Its a real bummer actually, been saving for 3 years now and selection is all turds. The good properties are priced higher than they are worth OR locked behind government eligibility rules for low income. The ineligible houses really piss me off, if you not too rich and not too poor, you maximally screwed out of your finances.
Here was one I saw yesterday "Beautifully well maintained 3 bed 2 bath home for sale! Home has appraised market value of $230,000, but is being sold $93,000 below value to income eligible households. Buyer’s gross annual income cannot exceed the following (household size in parenthesis): $56,350 (1); $64,400 (2); $72,450 (3); $780,500 (4); $86,950 (5); $93,400 (6) $99,850 (7) $106,300 (8)."
Housing Discrimination at its finest
Point is our low income housing segment supply is further restricted by the government programs to help the poor. Simultaneously hurts the poor. If I were rich, the segment of houses would be higher tier which usually aren't income bound nonsense. If government wants to help poor afford houses, bolster the supply. Instead, new builds are trying to fetch about $700k (also turd quality)
This post was edited by RedFromWinter on May 31 2025 05:36am