After years of booming times, Canada’s housing markets are at a turning point. Interest rates are rising, and the new mortgage rules have taken some steam out of the market.
Below are 10 charts illustrating just how out of whack things have become.
Canadians have never had to shell out more of their income to own a home:
Condo construction is at an all-time high:
Young families are not wanting to live in said condos:
You need to be a one-percenter to own an “average” Vancouver home:
Vancouver homes are comically overpriced:
Vancouver’s new distinction: Worst housing market:
There aren’t enough new residents to prop up Vancouver’s market:
Toronto has as much as it can handle:
Mortgage growth is at historic lows:
Investment condos are now often losing money: