Snapshot of 2016 Canadian Housing Market
In
2016 Canadian real estate grew faster than it did in decades. According the
Canadian Real Estate Association (CREA) on average properties across the
country rose 14.4%. Toronto and Vancouver reached notably new heights, whereas
areas like Calgary and Saskatoon dropped significantly.
In 2016 prices reached record highs and affordability has
become a thing of the past. If such inclines increase new buyers will be
decimated as the price of owning a house will simply be too high. Yet, if
property prices decline in the near future those who acquired great debt to
purchase a home will lose a large chunk of their net worth.
Taken from an article
on Better Dwelling
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