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I learned a lot about my topic. I learned that there is a big crisis when it comes to the Canadian housing market. One of the issues is that the housing supply is low and the cost of housing is high, making it very difficult for people to by homes. This is also making it better to rent which surprised me.

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This photo I picked shows construction in downtown Toronto  building condos which is a preferred type of housing that needs to be built in Canada. Condo's make use of small area's of land to house many people and they add to the rental market supply.

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I chose this photo because it shows that the housing market is in a state of crisis and peoples debt is increasing which is making housing unaffordable for the average working person.

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This website is about how Canada's housing affordability has saw its worst deterioration in 41 years. The cost of houses has risen which means less people are able to afford homes. An average mortgage payment is $4,166 which is 63.9% of the median salary average in Canada.

I chose this website because it had lots of numbers on the information which made it easier to understand. One piece of information I found useful is that a mortgage can take up 63.9% of the median salary which means you only have 36.1 percent to spend on other essential items used in your daily living.

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Tom Yun CTVNews.ca writer Follow | Contact

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Canada’s housing affordability saw ‘worst deterioration’ in 41 years: report

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In the second quarter of 2022, Canada’s housing market saw the ‘worst deterioration’ of affordability in 41 years, a new report from National Bank Financial Markets has found.

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This video is about whether it is better to rent or buy a home.
It mentions that in your 20's it is better to rent rather than to buy a home. The video states that you should only buy a home if you know you are going to be there for 5 to 10 years, making it worth investing in a property. It also talks about the unrecoverable costs of owning a home such as property taxes, maintenance costs and interest.

I chose this video because although its a short video it has plenty of information, including the pros and cons of renting or buying a home. One piece of information that I found useful in this video is how much the prices of houses in Canada have increased in the past year by 20 percent.

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Why renting may be financially savvier than buying a home

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The average home price jumped 20 per cent in the last year, leaving many Canadians having to contend with long-term renting.

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The topic I picked is the Canadian Housing Market and the factors that impact the affordability of housing. Some of the factors that impact the affordability of housing include supply, inflation, interest rates, rental supply, foreign buyers and investors and government policies.

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This video is about how the Canadian housing market is crashing and explains how it is crashing. Firstly, the video talks about how the median price has gone down and how the interest rates have gone up by 1 percent. The video also discusses how the money supply has gone up 5 times what it was in 2020 and the Canadian government doesn't want to increase the interest rates because they are worried that it would cause a housing market crash.

I chose this video because it provides a lot of information  about the current state of the housing market in Canada and I found the information very helpful. A piece of information I found useful in this video is when he said there is a higher cost of borrowing making it more difficult for people to purchase a house.

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This video is about young Canadians delaying buying houses because of higher interest rates and the rising inflation in Canada. The video also suggest that if you are looking to buy you should take an honest look at your money and work with a professional to find the right time to buy. If you are on the fence of buying or renting it recommends you should buy and become a landlord because it provides extra income to pay off your mortgage.

I chose this video because it gave a lot of info on young Canadians and if they are buying houses or waiting. One piece of information I found useful is that one third of 18 to 34 year old people have delayed or de-prioritized buying a home since the beginning of the year, which shows that people are finding homes to expensive to buy.

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This topic is relevant to me because in the future I want to own property and rent it out to people in order to make money from the properties. This topic taught me a lot on what the market is like and how its trending.

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This website is about  how Canada banned foreign home buyers for 2 years in order to make the housing market better. Also it talks about how they are going to charge higher taxes for people who sell their homes within a year, with exceptions for permanent residents and foreign students.

I chose this website because it gave good information on the foreign ban and how it can help Canadians buy homes and help market to cool down. Something I found useful on this website is that it talks about how the budget has billions for new housing to help Canadians get into the market. This is useful because it shows they are trying to fix this big issue.

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Justin Trudeau's government has announced it will ban foreign investors from buying homes in Canada for two years, in a bid to cool off a hot housing market.

The finance minister, Chrystia Freeland, took a number of measures to tamp down speculation and demand amid record home prices in announcing the federal budget for the year.

The government announced a two-year ban on foreign home buying as well as higher taxes for people who sell their home within a year, though both measures include multiple exceptions including for permanent residents and foreign students.

The budget also includes billions for new housing and measures to help Canadians trying to get into the market, including a new savings account and changes to the first-time home buyers tax credit.

The government is under pressure to cool an overheated market after prices climbed by more than 20% last year, while rental rates have also been rising.

The federal Liberal government is also promising C$500m (US$397m) in additional military aid to Ukraine as well as more humanitarian and financial support to Kyiv in response to Russia's invasion.

Canada responded to months of pressure from the Nato military alliance and others by promising more than C$8bn in new military spending over the next five years. Canada will remain far short of Nato's spending 2% of GDP target, even as other allies dramatically ramp up their own military investments following Russia's invasion of Ukraine.

Last month, the Canadian government announced it selected Lockheed Martin Corporation and the F-35 as the preferred bidder in its competition to buy a new fighter jet.

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Canada bans foreign homebuyers for two years in effort to cool market

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Justin Trudeau's government has announced it will ban foreign investors from buying homes in Canada for two years, in a bid to cool off a hot housing market. The finance minister, Chrystia Freeland, took a number of measures to tamp down speculation and demand amid record home prices in announcing the federal budget for the year.

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This video talks about how the housing market faces a supply shortage. In the video it also says there is a first time home buyers plan. The housing supply needs to be the right type of housing such as multi family homes, condos and rental properties.

I chose this video because it talks about how Canada is facing a supply shortage. What I found useful is that the type of house being supplied is a major concern.

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A homebuyer in 2022 could be paying around 250 per cent more in interest during the first year of their mortgage when compared to a buyer in 2021, according to an analysis conducted by Ratehub.ca.

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Canada's housing market faces supply shortage: Economist

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A homebuyer in 2022 could be paying around 250 per cent more in interest during the first year of their mortgage when compared to a buyer in 2021, according to an analysis conducted by Ratehub.ca.

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This website talks about all the different factors that can effect housing prices in Canada. It talks about how employment and income can affect prices because usually you need to have a job 3 to 6 months before you apply for a mortgage. Another force that effects housing prices is how expensive utilities can cost and with them being expensive you don't have much money to spend else where.

I chose this website because it had a lot of different examples and charts on how everything effects the housing market. One thing I found useful was when it talked about the long term rental investors, it says long term rental investors have a significant effect on home prices and nearly 40% of Toronto's condos are not owner occupied.

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Five Forces Driving Ontario Home Prices - Mortgage Sandbox

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At Mortgage Sandbox, we break down our Ontario market analysis to five key factors: affordability, capital flows, government policy, supply and popular sentiment. In the long-run, the market is fundamentally driven by economic forces, but in the short-run sentiment can drive prices beyond economic

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If I was to pass on my knowledge to a friend I would pass on the information on whether its better to rent a house or buy a house because it would help them when they are getting to that point in there lives.

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This website talks about how inflation isn't the main factor driving Canada's sky high housing costs. Housing prices have been rising for the last 20 years. The prices have risen 318 % since 2000. Another main cause is  the slow down in housing construction and financialization of the housing market is a bigger factor than inflation.

I chose this article because it is on the housing market and its a recent article. The thing I found useful about this website is that it shows that inflation is not the only cause of inflation

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As Canadian housing prices continue their dizzying climb to record highs, the federal Conservatives are defining the problem as a "housing inflation crisis."

That description dovetails neatly with the ongoing debate about Canada's inflation rate, now at a 30-year high of 4.8 per cent. But some experts warn that pairing housing costs with inflation could obscure the actual causes of surging home prices.

"These issues have predated our conversations about inflation, or even concerns about inflation," said Murtaza Haider, a professor in real estate management at Ryerson University.

"To assume as such, we would make the mistake of thinking that if we solve the inflation problem, we will solve the housing problem and that would be a big mistake."

The House of Commons is examining the effects of inflation on the Canadian economy through a special parliamentary committee that launched in January. The first meeting of that committee saw a thorough discussion of housing prices, but some who took part say the committee risks conflating two issues which are distinct in some ways.

"I don't think we can call this just an inflation problem," said Sahar Raza, a manager at the National Right to Housing Network.

Raza and Haider both appeared in January as expert witnesses before the parliamentary committee on inflation.

Following his appearance, Haider said discussions about housing prices have "some but not much relevance to the ongoing discourse on inflation."

Conservatives blame government spending

Conservatives, meanwhile, point out that housing prices in Canada surged by 33 per cent from March 2020 to November 2021 - something the party blames on what it calls the federal government's reckless spending during the pandemic.

The price of the average Canadian home hit $713,500 in December 2021, according to the Canadian Real Estate Association (CREA).

"The inflation in house prices followed the government printing about $400 billion of new cash, dumping it into the financial system, much of which was lent out in mortgages," Conservative finance critic Pierre Poilievre told CBC News.

"More dollars chasing fewer goods means inflation, and in this case, housing inflation."

Poilievre said that what he calls Canada's housing bubble is set to burst if no change is made to government policy.

In an email to CBC News, a spokesperson for Finance Minister Chrystia Freeland did not describe rising housing costs as the result of inflation. Freeland herself has consistently avoided Poilievre's attempts in the House of Commons to make her use that term.

"Housing affordability remains a priority for the federal government and, as we have said previously, we will take further action in the upcoming budget," wrote Adrienne Vaupshas, adding that the Bank of Canada is focused on "price stability and inflation."

Prices have been rising steadily for decades

But many housing experts point out that Canadian housing prices have been rising steadily for more than 20 years now, far predating the recent spike in inflation.

CREA sales figures show a 318 per cent rise in home prices since 2000, suggesting today's high housing prices have been decades in the making.

Experts say those soaring prices have multiple causes.

Haider points to a slowdown in new housing construction as the primary cause. He said that trend began in the 1970s and left Canada with far fewer homes per resident than the G7 average.
WATCH | Canada's housing supply hits record low as prices climb:

Raza said the "financialization" of the housing market is a bigger factor than inflation. She said changes to taxation rules for investors and developers would do more to lower prices than broadly trying to reduce inflation.

"These are major gaps that don't even come into the picture when we're just talking about inflation as this overarching concern," Raza said. "The housing sector is experiencing something very specific."

Others say that Canada should change the way it calculates its inflation rate to better include housing prices - which have risen more than six times faster than the general inflation rate since 2000.

A clearer picture of inflation

Such a change could give the government a better sense of the increase in living costs facing Canadians, according to a new report by the non-profit research and advocacy group Generation Squeeze.

A report by the group released last month called on Statistics Canada to review how it factors housing prices into its inflation numbers. Inflation is currently calculated using the consumer price index, which does include rent and mortgage costs.

"It's alarming that the relentless escalation of home prices has had seemingly little impact on reported levels of inflation, because rising prices have increased un-affordability for anyone who didn't already own a home, while creating wealth windfalls for those who already did," Generation Squeeze said.

The report said a change to that calculation would give policy makers a more accurate sense of housing prices, making it easier to craft policy to improve affordability.

"Increasing housing supply, revamping tax policies and protecting renters are all important - and so is ensuring that accurate information about inflation drives our monetary policy," Generation Squeeze said.

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Inflation isn't the main factor driving Canada's sky-high housing costs, experts say | CBC News

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As Canadian housing prices continue their dizzying climb to record highs, the federal Conservatives are defining the problem as a "housing inflation crisis." That description dovetails neatly with the ongoing debate about Canada's inflation rate, now at a 30-year high of 4.8 per cent.