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Mark Blinch / Reuters
Nearly half of Canadians are worried about what interest rate hikes will do to their mortgage payments.
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She felt the plan would bring stability to the market. It has yet to do so – and if anything has caused more disruption than anything else.
Bank of Canada
There is a need for more supply to satisfy this rapidly rising need for millennial housing, but the demographic logjam created by baby boomers is restricting millennial access to prime properties, keeping them under-housed, stuck living with a roommate or confined to their parents' basements.
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A strong economy can't explain the Toronto region's house price growth, the bank says.
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"The frenzy is over .... Sanity is returning to the marketplace."
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Goldman made a ton of money betting on the U.S. housing bubble, so this might mean something.
Toronto is no longer a "seller's market" and is now "in balanced territory."
Borrowers should make sure they can handle a hike in interest rates.
Canadian Press/Giordano Campini
In late April, Ontario Premier Kathleen Wynne and Ontario Minister of Finance Charles Sousa announced a 16-point Fair Housing Plan to cool the red-hot housing markets in Toronto and southwestern Ontario. A foreign buyers tax, vacant homes tax, and expanded rent control were the most notable measures introduced.
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Will it infect the whole mortgage market?
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But confidence in personal finances is on the decline.
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By the time the public realizes it's a bubble, it's already over.
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Every five years, statisticians, analysts and economists eagerly await the slow release of Census data by Statistics Canada. In early February the population and dwelling count tables were released. The figures that immediately caught the attention of the public was the difference between the total dwellings and dwellings "occupied by usual residents."
"Toronto and any city that is remotely within commuting distance are overheating, and perhaps dangerously so."