https://padlet.com/angelicakusik/aqali18ssg75kyt1 by Angelica Kusik en-us 2022-04-03 18:11:14 UTC 2026-01-06 09:20:29 UTC hello@padlet.com angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127393575 In this wall I will be covering the topic Housing Marketing - Understanding the Financial Crises, which was one of my favorites topics in this course so far. 
On this wall you will find resources that discuss the Canadian Housing Crisis from different perspectives and will give you some insight on what we can expect to happen in the coming years. ]]> 2022-04-03 18:17:09 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127393575 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127489452 This video discuss the recently released Oxford Economics forecast for the Canadian Real Estate and the increase on housing prices that we have been experiencing all over Canada.
What I liked the most about this video is the fact that it uses the National Price Map to demonstrate the housing prices increase per Canadian Marketing, which gives people a better understanding of the crisis and how it is worse on GTA and Vancouver areas. It is also worth pointing out that the author of this video do not believe that we will see a decrease of 24% on housing prices as indicated by the Oxford forecast.]]> 2022-04-03 20:27:36 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127489452 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127505969 This video is an interview with the MPs of the Standing Committee on Finance, conducted earlier this year on CTV News where they were asked about what is causing the Housing Marketing Crisis and what are the Government's plan to tackle it. 
 I thought it was important to add this video to my wall
because it discusses some of the initiatives that the Government must adopt to
make housing more affordable. This video also discusses some of the root issues
causing this crisis that many people may not be aware of, such as the fact that
the Government’s has been printing money and injecting it on the financial market
leading to wealthy investors being able to loan money for very low rates and
heavily invest on real state causing prices to rise.

]]> 2022-04-03 20:51:48 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127505969 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127514564 The third video discusses the Canadian Housing Crisis from the perspective of those renting a place to live. The video shows how it is becoming harder and harder to find afford a place to live in Canada and how high rents are impacting families budgets.
What I liked about this video is the fact that it shows the effects of rent increases on people in different stages of live living in different areas in Canada. Another interesting thing about this video is that it also includes the perspective of landlords into the discussion.]]> 2022-04-03 21:04:55 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127514564 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127519209 The last video discuss the current situation of Canadian Housing Market from the perspective of an investor and make some predictions about what we can expect to happen in the coming years.
I added this video to my wall because I think it is important to look at the housing crisis from different angles and hear different opinions. The author of this video believes that the predictions of Oxford forecast are correct and that we will see house prices dropping and potentially crash in the coming years. An interesting point of this video worthy mentioning is that the video talks about the economic moment we are living and how eventually things may get better in terms of housing prices and lower inflation.]]> 2022-04-03 21:11:28 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127519209 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127520778 While some people may still say that we are not experiencing a housing crisis in Canada, this article from The Globe and Mail says otherwise pointing five reasons why in fact we can say that the housing prices are just crazy right now.
One of the most interesting things about this article is that it makes a comparison between house prices in Canada and in US. According to the article a house in Chicago costs the equivalent to a house in Barrie, Ontario.
The articles also mentions how people do not want to sell their houses right now due to the sky-rocking price rises that we have seen in the last two years.

]]> 2022-04-03 21:13:37 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127520778 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127521248 This article discuss the recently published Oxford Economic Forecast that Canadian Real Estate prices are expected to decrease 24% between now and mid-2024 due to higher interest rates and anti-speculation policies.
What is interesting about Oxford's predictions is that  they estimate that if the measures being adopt to reduce house prices do not have the expected effect we may see a crash of 40% on housing market and a financial crisis as well.
The article also highlights that even if house prices drop 24% it would still be around 15% higher than what we have seen in pre-2020 before the Coronavirus pandemic.

]]> 2022-04-03 21:14:23 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127521248 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127813103 This article from Financial Post also discusses Oxford Economics predictions of a drop of 24% on housing prices within the next two years.
The most interesting thing about this article is that it explains that even though 24% seems like a lot, it is unlikely that such decrease on housing prices would negatively affect the economy leading to a financial crisis, because it would still leave house prices 15% above pre-pandemic rates.
The article also mentions the recently increase of borrowing rates by The Bank of Canada and the impact that this measure will have on mortgage rates by the end of this year and in the coming years. ]]> 2022-04-04 02:36:53 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127813103 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127840776 The fourth and last article is from a couple of days ago and discuss Doug Ford recently announced government's housing plan called "More Homes For Everyone". According to the CBC article the plan seems to lack immediate actions to tackle the housing crisis and it is dividing opinions even among Ford's supporters. 
One of the most interesting things about this article is that it mentions how the plan was particularly criticized by a group called More Neighbours Toronto which is mainly made up of people in their 20s and 30s that have been very vocal about the increasing on housing prices which makes sense given that younger people seems to be the most impacted by the ongoing crisis. ]]> 2022-04-04 02:59:23 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127840776 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127857662 The image below shows the average price of a home in Canada over the years. As we can see, according to Oxford predictions housing prices will reach its peak in 2022 and then will start to drop. ]]> 2022-04-04 03:13:03 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127857662 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127879706 This tiny house in Toronto was listed for $1 Million and was sold over asking for $1.8 Million. According to Narcity people were willing to pay so much for this house because it is situated in a nice neighborhood.. just mind blowing! ]]> 2022-04-04 03:32:12 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127879706 angelicakusik https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127899387 1- I was surprised to learn about Oxford Economics predictions of a potential decrease in housing prices starting later this years. 

2- I chose this topic because my husband and I really would like to buy a house some day and we have been doing a lot of research about the costs involved in owing a house, and mortgage prices versus renting a house, so the research I did for this activity was very relevant to me personally.

3-  Under the current circumstances my advice in terms of housing market would be to exercise caution and not buying a house right now. Prices are way to high, mortgages rates are expected to increase in the course of this year and there is a lot of pressure on the government to adopt tougher measures to prevent this crisis from aggravating, so I think right now if you have the money for a down payment on a house it may be a better idea to invest it and wait for the housing market to cool down.    ]]> 2022-04-04 03:50:56 UTC https://padlet.com/angelicakusik/aqali18ssg75kyt1/wish/2127899387