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Welcome to my Housing Market Padlet! I am excited to have you explore this platform, where you'll discover valuable insights into the current trends, challenges, and opportunities in the housing market. From understanding market fluctuations to learning about the factors that influence pricing and demand, this Padlet is designed to help you gain a deeper understanding of real estate dynamics. Whether you're a first-time homebuyer, investor, or just interested in the housing industry. Overall you will find the resources, tips, videos and images to enhance your knowledge all within this presentation.

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Website # 1 Housing market portal for Canada 

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Website # 1 Housing market portal for Canada 

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The Housing Market Outlook report by CMHC (Canada Mortgage and Housing Corporation) provides an in-depth analysis of Canada’s housing market, examining factors such as housing starts, sales trends, price fluctuations, and rental market dynamics. It offers projections for future housing activity, including regional market differences, to help stakeholders understand local variations in supply and demand. The report is grounded in thorough research and data analysis, considering economic influences like interest rates, demographics, and government policies. By offering both national and regional perspectives, it provides a valuable overview of market conditions, helping investors, real estate professionals, and policymakers make informed decisions.

I chose the CMHC Housing Market Outlook because it is a trusted and authoritative source of information for housing market data in Canada. As a government agency, CMHC provides unbiased, well-researched, and accurate reports that are highly valued by real estate professionals, investors, policymakers, and anyone looking to understand housing trends. This website offers up-to-date market analysis and projections that can help inform decisions whether you are buying, selling, or investing in real estate. Additionally, it has detail reports and data making it an essential resource for anyone seeking to gain a deeper understanding of the housing market in Canada.

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The Housing section on the Government of Canada's website highlights various programs and resources aimed at improving housing affordability and accessibility for Canadians. Key initiatives include the First Home Savings Account to assist first-time homebuyers, the Home Buyer's Plan that allows individuals to use their RRSP savings for a down payment, and the Canada Greener Homes Grant, which helps homeowners improve energy efficiency. The government also focuses on affordable housing through the Housing Accelerator Fund and addressing housing needs for vulnerable groups like seniors, Indigenous peoples, and newcomers. These programs aim to enhance housing options, provide financial assistance, and reduce housing insecurity across Canada.

I believe that I chose this website because it provides essential information about government backed housing programs and resources that aim to improve housing affordability and accessibility in Canada. The website offers details on initiatives like the First Home Savings Account, Home Buyer’s Plan, and the Canada Greener Homes Grant, which are valuable for individuals looking to purchase a home or improve their current housing situation. Also, the site outlines efforts to support vulnerable groups, such as seniors and Indigenous peoples, making it an available  resource for understanding how the Canadian government is addressing housing challenges.

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Innovation, Science and Economic Development Canada

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Video # 1 Opening Doors To Housing Affordability 

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Video # 1 Opening Doors To Housing Affordability 

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In this video it explains that many Canadians are experiencing significant housing challenges, whether it's the high cost of renting, the difficulty of saving for a down payment, or the struggle of keeping up with home maintenance. For those who own their homes, these issues can be even more overwhelming. However, the Government of Canada offers a variety of programs designed to improve housing affordability and make homeownership more accessible. These initiatives aim to reduce the financial barriers many face, helping individuals and families find safe, affordable places to live while easing the financial burden of maintaining a home. Overall, the government of Canada is trying to give options and programs to help many people who are potentially looking in the housing market and succeed in owning or renting a home.

I chose this video to show the real struggle and responsibilities in homeownership. When it comes to bills being due, utilities and repairs these all accumulate and are struggles of owning a home. Also seeing that people avoid buying a home result in renting to not deal with the responsibilities and costs of maintaining a home let alone being able to afford one.

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Innovation, Science and Economic Development Canada

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Website # 3 Navigating Housing Market Tips

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Website # 3 Navigating Housing Market Tips

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The RBC guide on navigating the Canadian housing market for newcomers provides essential tips for those new to Canada and interested in purchasing a home. It offers advice on understanding the market, securing financing, and the steps involved in buying a home. The article highlights important factors such as down payments, mortgage pre-approval, and government programs designed to help newcomers, like the First-Time Home Buyer Incentive. The guide also emphasizes the importance of working with professionals such as real estate agents and mortgage specialists to ensure a smooth home buying process. It serves as a valuable resource for newcomers looking to establish themselves in Canada's housing market.

The reason I picked this site is because it provides practical, straightforward advice specifically tailored to newcomers and young adults in Canada who are looking to navigate the housing market. The RBC guide offers essential information on understanding the Canadian real estate landscape, securing financing, and accessing government programs, such as the First-Time Home Buyer Incentive, that can support immigrants. It also shows the importance of working with professionals to simplify the home buying process. This website is a helpful resource for newcomers and young adults, offering clear steps and tips to make informed decisions when purchasing their first home in Canada.

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Navigating the Canadian Housing Market: Tips for Newcomers

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Many newcomers want to own a home in Canada, but understanding the Canadian housing market and home-buying process can feel daunting. Here are some tips to help you buy your first home in Canada.

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The Buying a Home section on the Government of Canada's website offers comprehensive guidance for prospective homebuyers. It covers essential topics like saving for a home, mortgage pre-approval, finding a home, and the costs associated with homeownership. Key government programs, such as the Home Buyer’s Plan, First Home Savings Account, and GST/HST rebates, provide financial support for first-time buyers. The site also emphasizes the importance of budgeting for additional costs like home inspections and legal fees. With helpful tools like the Mortgage Qualifier and savings calculators, it provides practical advice for navigating the home buying process.

The reason why I found interest in this section is because it guides you on becoming a homeowner and suggests “that your monthly housing cost should not be more than 39% of your gross monthly income”. It also gives you a mortgage qualifier tool to see if you can qualify for a mortgage to buy a home. While supplying you a financial goal calculator to reach your saving goals and also find out how much you need for a down payment. Overall, this is a useful resource for people to gain an understanding and confidence in homeownership or the general market.

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Figure out how much you can afford for a home

Homeownership can be very exciting, but it isn't always the best thing for everyone. Before you decide to buy a home, make sure you carefully consider the costs.

According to Canada Mortgage and Housing Corporation ( CMHC), your monthly housing costs should not be more than about 35% of your gross monthly income. This includes costs such as mortgage payments and utilities.

Your entire monthly debt load should not be more than 42% of your gross monthly income. This includes your mortgage payments and all your other debts.
Use CMHC's step-by-step guide to help you decide if homeownership is right for you.
Saving for your home

To buy a home, you need a down payment. You also need money to pay for the upfront costs.

Make saving part of your monthly budget. Most employers deposit your pay directly into your chequing or savings account. Increase your chances of reaching your savings goals by setting up automatic transfers to a savings account each pay cheque.
Use the Financial Goal Calculator to help you determine how long it will take you to reach your savings goals.
Saving with a Tax-Free Savings Account (TFSA)

A TFSA is an account that lets you save or invest your money tax-free. You won't pay tax on money you withdraw from your TFSA. You can also use your TFSA to help you buy a home.

Saving with a Registered Retirement Savings Plan (RRSP)

An RRSP is an account that allows you to save money for your retirement. You don't pay taxes on your savings until you withdraw money from the RRSP.

The Home Buyers' Plan (HBP)

If you're a first-time homebuyer, the HBP allows you to withdraw up to $35,000 from your RRSP s tax-free to put toward buying your first home.
Learn more on how to participate in the Home Buyers' Plan.
Using savings and investment

If you plan to buy a home in the near future, focus on building your savings. You'll want to keep your money protected and easily accessible.

Short-term savings and investment options may include:

savings accounts

short-term guaranteed investment certificates (GIC)

low-risk mutual funds

Ask your financial institution or advisor about the short-term investments they offer and how they work.
Learn more about setting savings and investments goals.
Paying for your home

Most people need to borrow money to buy a home. You also need to put some of your own money into the purchase.

Down payment

When you buy a home, you must put a certain amount of money toward the purchase upfront. This is called a down payment. Your mortgage loan will cover the rest of the price.
Find out how much of a down payment you need to purchase a home.
Mortgage process

A mortgage is likely the biggest loan you get in your lifetime. It's important that you understand the process.

Check your credit report before you apply for a mortgage

A potential lender considers your credit history before they decide whether or not to approve your mortgage application.

Before you start shopping around for a mortgage:

Shop around for a mortgage

Lenders may have different interest rates and conditions for similar mortgages. Talk to several lenders to find the best mortgage for your needs.

You can get a mortgage from:

Mortgage lenders - These institutions lend money directly to you. Explore the different types of lenders that are available, including banks and credit unions.

Mortgage brokers - They don't lend money directly to you. Mortgage brokers arrange transactions by finding a lender for you. Since brokers have access to many lenders, they may give you a wider range of mortgages to choose from. The lender pays a commission to the mortgage brokers, so there's no cost to you.
Find a local certified mortgage broker with Mortgage Professionals Canada. Find out about getting pre-approved and qualified for a mortgage.
Get the mortgage that meets your needs

Mortgages have different features to meet different needs. It's important that you understand the options and features.

Questions you should ask yourself include:

do you want a mortgage with a fixed interest rate or one that can rise or fall

how long of a term do you want

how often would you like to make payments toward your mortgage

Find a mortgage that is right for you.
Mortgage loan insurance

If your down payment is less than 20% of your home's price, you need to purchase mortgage loan insurance. In some cases, you may need to get mortgage loan insurance even if you have a 20% down payment.

Mortgage loan insurance protects the mortgage lender in case you're not able to make your mortgage payments. It does not protect you. Mortgage loan insurance is also sometimes called mortgage default insurance.

Optional mortgage life, critical illness, disability and employment insurance

Your lender may ask whether you would like to purchase life, critical illness, disability and employment insurance.

These products that can help make mortgage payments, or can help pay off the remainder owing on your mortgage, if you:

lose your job

become injured or disabled

become critically ill

die

There are important exemptions for each of these insurance products. An exemption is something not covered by your insurance policy. Read the insurance certificate before you apply to understand what this insurance covers.

These insurance products are optional. You don't need to purchase this insurance coverage for your mortgage to be approved. You must clearly agree to sign up for this insurance before the lender charges you for it.
Learn more about optional mortgage insurance products.
Tax credits for homebuyers

The Government of Canada offers two tax credits for specific types of homebuyers. Your provincial or territorial government may also offer other home-buying incentives.

The Home buyers' amount

You get access to this tax credit when you purchase your first home and submit a tax return. It's an effective means of offsetting some of the upfront costs associated with buying a home. Eligible homebuyers may receive a tax credit of up to $750.
Find out if you're eligible for the Home buyers'amount.
GST/HST housing rebates

Generally speaking, sales of new homes are subject to the GST/HST. You may qualify for a rebate for some of the tax you paid.
Learn more about the GST/HST housing rebates that may be available to you.
Moving expenses

You may move into a new home to work or run a business in a new location. You can deduct eligible moving expenses from the employment or self-employment income that you earn in the new location.
Find out if you're eligible to claim moving expenses.
Home buying costs

When you buy a home, you have to pay for upfront costs in addition to your mortgage. These are called closing costs. You can expect to spend between 1.5% and 4% of the home's purchase price on closing costs. You usually pay these costs by the time the sale is completed or "closes".

Legal costs

You have to pay legal fees on your closing day. This is the day that your home purchase is complete. These fees are usually range between $400 to $2,500 but will vary depending on your lawyer's or notary's rates.

A lawyer or notary can help protect your legal interests. They make sure that the home you want to buy does not have a lien against it. A lien is a legal claim over another person's property that someone files to ensure a debt gets paid.

A lawyer or notary reviews all contracts before you sign them. They also review your offer or agreement to purchase.

Home insurance

You must have home insurance in place as a condition of getting a mortgage.

Home insurance can help protect your home and its contents. It typically covers the inside and outside of your home in case of theft, loss or damage.
Learn more about how home insurance works and the different types that are available.
Land registration

Before the sale closes, you're required to pay to register your property's title under your name. This may be called a land transfer tax, a deed registration fee, a tariff, or a property transfer tax.

The cost is a percentage of the home's purchase price. For example, if your land transfer tax is 1.5% and your home cost $300,000, you pay $4,500.

Adjustment costs

The seller of the home you're buying may be entitled to adjustments. For example, the seller may have already paid the property tax on the home past the purchase closing date. If that's the case, the seller receives a credit on the closing date. You must then pay this credit amount to cover the money already paid by the seller.

New build GST/HST

Generally, if you buy a new build home, you pay GST or HST. Some builders include the HST in their sale price while others don't. Make sure to check. Otherwise, you have to pay this cost upfront on closing day.

Other closing costs

Other closing costs may include:

interest adjustments (period between your purchase date and your first mortgage payment)

Certificate of Location cost

estoppel certificate (for condominium units)

township or municipal levies (may apply to new homes in subdivisions)

mortgage default insurance premium (if paying premium up front instead of adding it to mortgage loan)

provincial sales tax on premiums for mortgage default insurance (applicable in some provinces)

Other home-buying costs

Other costs you may need to budget for include:

Home appraisal

Mortgage lenders may ask you to have an appraisal done as part of the mortgage approval process.

An appraiser provides a professional opinion about the market value of the home you want to buy. An appraisal fee is generally between $350 and $500.
For more information on the appraisal process, read the guide from the Appraisal Institute of Canada.
Home inspection

An inspector provides a comprehensive visual inspection of a home's overall structure, major systems and components such as:

electrical and plumbing systems

the foundation

the roof

CMHC recommends that you include a home inspection as a condition when you make an offer.
Use tips from the Office of Consumer Affairs to find an inspector and learn about home inspections.
Moving costs

Before moving in, you may also have to pay for:

moving costs

storage costs

real estate costs for selling your home (if applicable)

redirecting mail

Find out what to consider when choosing a moving company, and how to plan for moving day costs.
Once you move in, you may immediately face other costs, including:

utility hook-up fees

basic furniture and appliances

painting and cleaning

water tests

septic tank tests (if applicable)

Use this home purchase cost estimate form to estimate your home-buying costs.
Working with a real estate agent

Using a realtor is optional. A realtor typically searches for homes, negotiates a purchase price, fills out and file paperwork, and more.

The seller pays the realtor's fees when you buy a home.
Learn more about a realtor's involvement in the home-buying process.
Home buying and newcomers to Canada

CMHC has a guide with comprehensive information on housing for newcomers.
Consult Buying Your First Home in Canada: What newcomers need to know.
Buying a condominium

Condominiums, or condos, are shared properties that contain individual housing units. Each unit has its own owner. Owners share the common areas outside of the unit such as the lobby and parking lot.

There are pros and cons to owning a condo. For example, if you buy a condo, you pay monthly condo fees. However, you may like the idea of sharing the building maintenance costs with the other unit owners.
Learn about condo fees and other ongoing costs of maintaining a home. Use this Condominium Buyers Guide for tips on what to consider before buying.
Buying to rent

You can buy a property with the intention of renting it out. Keep in mind that you have to declare your rental income at tax time each year.
Find out how to calculate your rental income and which expenses you can deduct.

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mortgage; buying a home; buying a house; tfsa; rrsp; hbp; home buyers plan; down payment; tax credit; ght/hst housing rebate; moving costs; buying a condo; rental property

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Homeownership can be very exciting, but it isn't always the best thing for everyone. Before you decide to buy a home, make sure you carefully consider the costs. According to Canada Mortgage and Housing Corporation ( CMHC), your monthly housing costs should not be more than about 35% of your gross monthly income.

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This image displays Canada's housing market over the years and there is an obvious high increase on average house prices. During the pandemic housing prices was at its all time high which damaged the overall market. This led to average housing prices being above the affordable range.

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This image gives 4 tips for saving for your down payments on house. First step is to gather all bank statements and track your expenses. Second shop smarter through buying cheaper products, third step get help by speaking to finical advisor and fourth step consider your options whether you share with friends or family and consider a second income source Etc.

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In this video, mortgage lender Chris Lamb shares practical tips for saving a down payment on a house more quickly. The key steps he suggests include:

1. Clarify your goals: Understand why you want to buy a home and whether it fits your long-term plans.

2. Prioritize savings: Make saving for a home a top priority, especially if you are spending money on unnecessary items.

3. Track your spending: Use tools like Mint or Personal Capital to monitor your budget and ensure you’re saving as much as possible.

4. Automate savings: Set up automatic deductions to a savings account to stay consistent and make saving easier.

5. Prepare for mortgage payments: Anticipate future mortgage costs and adjust your savings to be prepared for the higher monthly payment.

By following these steps, you can accelerate your path to homeownership while making the process more manageable.

I decided to choose this video because it offers practical, actionable advice on how to save for a down payment on a house more efficiently. The tips provided by Chris Lamb, such as clarifying your goals, prioritizing savings, tracking your spending, automating your savings, and preparing for future mortgage payments, are essential strategies for anyone looking to buy a home. Overall, everything he covered explains why it is important to be invested in the housing market and gave many tips on achieving that goal.

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How To Save For A House Faster (in 2025)

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In this video, the speaker discusses whether owning a home is still better than renting, explaining that the answer depends on a detailed financial analysis. The debate between renting and owning is often emotional, as people tend to pick information that supports their desired position. To help viewers make a more informed decision, the video uses a case study of Vancouver, comparing the costs of owning vs. renting a two-bedroom apartment.For the case study, the cost of owning a condo priced at $748,000 with a 5% mortgage rate totals $5,052 per month, while renting a similar apartment would cost $2,698 per month. This indicates that renting could save a person over $2,300 per month. However, the speaker updates this by factoring in actual rental market prices, which bring the rent cost closer to $4,450 per month, still making renting a better option by saving around $600 per month.

The reason I picked this video is because it compares renting vs. buying a house. It also supports its facts through doing a case study that results in renting being the better option. Ultimately showing the two different outcomes gives people a view on the overall market and what it is leading to.

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Renting vs Buying a Home in Canada| The Honest Truth

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Videos # 4 How buyers can approach the housing market

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Videos # 4 How buyers can approach the housing market

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In this interview, real estate agent Nancy KY offers advice for potential homebuyers navigating a challenging market influenced by rising construction costs, fluctuating interest rates, and economic uncertainty, particularly due to tariffs. Here are some examples:

1. Flexibility is Key: Buyers should remain adaptable to the changing market, considering alternative property types like resale homes, which offer more transparency and stability compared to pre-construction homes with uncertain timelines.

2. Interest Rate Uncertainty: While there is speculation about the Bank of Canada reducing interest rates, buyers should be cautious and consult with mortgage brokers to understand what they can afford in both the short and long term. Being financially prepared for potential rate increases is important.

3. Location Flexibility: The trade war and tariffs may force buyers to reconsider their preferred locations. By staying open-minded, buyers can explore more affordable options that align with their financial situation and long-term goals.

4. Market Sentiment: Many buyers are feeling uneasy about the current market and are delaying decisions. However, for those who are still actively searching, there may be opportunities to negotiate better deals due to less competition.

5. Opportunities in Uncertainty: Despite the challenges, buyers who remain knowledgeable about the market can find opportunities, especially when there is less competition and room for better negotiations.

In summary, staying adaptable, informed, and financially prepared can help buyers make wise decisions in a market shaped by tariffs and economic volatility.

I chose this video because I thought it gave insight on the present time of the housing market and how economy is struggling due to tariffs from America. The shortage of supplies affects the housing market by either leading to houses not being built due to lack of material or house cost being increase from high demand of new houses. By taking the advice of being adaptable, informed, and finically prepared.

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How buyers can approach this season's housing market

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What did you learn about your topic that surprised you the most?
What surprised me the most is how much external factors, like economic uncertainty, interest rates, and even international trade policies (like tariffs), can affect the housing market. I had always thought of real estate as something more dependent on local factors like location, property demand, and neighborhood trends, but these economic forces also play a huge role in shaping buyer’s decisions and market conditions.

Provide a real-life example of how this topic is relevant or interesting for you.
A real-life example is that I have a co-worker who's been saving up for a home for a while. However, with rising construction costs and unpredictable interest rates, he has been reconsidering his options. Before, he was looking into buying a new house but is now leaning toward renting instead. This shift directly connects to how the market conditions have affected his home buying plans and put it to a pause.

If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?
The most important thing I would pass on is the need to remain flexible and informed. The real estate market is not static, and external factors like rising construction costs, interest rates, and trade policies can impact your home buying decision. It’s crucial to be open minded about your options and consider different types of properties, explore various neighborhoods, and stay in regular contact with professional real estate agents to ensure you are making knowledgeable decisions. Being adaptable to shifting market conditions can ultimately help you make the best choice for your needs.