Housing Market In Canada By Behnaz Nikaein by https://padlet.com/be_nikjob/lzp806l92wij Made with the strength to succeed en-us 2018-03-10 16:53:01 UTC 2023-06-07 21:53:45 UTC hello@padlet.com Introduction: be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/240471087 Canada is a great growing country. Thousands of people immigrate to Canada each year. The first thing these people need is a home to live in. Most of them at first rent their places but later when they get settled and get a confident job, they buy a property. In this topic we will learn where in Canada is more demanded for properties, how this demand effects the housing market, how rates effect the market, and a way to buy a property when you do not have enough money. ]]> 2018-03-10 16:57:07 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/240471087 An Idea to Buy Your First Home be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247674208 Nowadays, when prices are very high, co-ownership can be a good idea to buy your first house. However, you need to determine that each person how much is paying, and the percentage of the ownership needs to be clear. The owners will be recognized as joint tenant or tenant-in-common. Not only they will share the down payment, but also all expenses will be shared. This especially helps first buyers if they do not have enough money for down payment, or if their income is not enough to cover the expenses such as monthly payments for mortgage. 
This website is useful because gives people an idea how to manage their investment in housing market. 

]]> 2018-04-01 15:16:00 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247674208 The High Demanded Places In Canada be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247678503 Based on this website, the first highest price is British Colombia and the second highest is Ontario. Therefore, these two provinces are highly demanded. If you move your mouse across the map in this website, you can compare the prices for different provinces and territories. You also can compare the 2018 and 2017 prices that shows how they have been changed. In British Colombia the average price has been decreased, but in Ontario it has been increased. 
I have chosen this website because it shows and compares different prices. The most interesting part is the high price in Northwest Territories which amazed me.  

]]> 2018-04-01 16:20:16 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247678503 The Mortgage Rate and Housing be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247680380 The millennial which are the children of the baby boomers are one of the biggest demographics who are getting the age to buy a home. Besides, immigration is growing up. These factors will cause raising the housing price. However, increasing the mortgage rate by Bank of Canada, put an stop on increasing the housing market price. In 2018, a borrower need to go under Stress Test which shows if they can afford to pay back their mortgage. They will do the test even they have a high credit score. 
I chose this website to show how mortgage rate has effected the market price. The interesting part is even if your credit score is high, you still need to do the Stress Test.

]]> 2018-04-01 16:41:07 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247680380 Politics and Housing Market be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247682730 This individual indicates that in Canada right now we have the low interest rate and the high price level in housing market. However, he believes this is not a good time to buy or sell the properties. He is concerned of the political movements in China and Russia that will effect the economy in the U.S. and Canada. He says these two countries will make their currency backed with their gold which will cause a war. He believes if the things get bad, it is time to buy a house and vice versa. 
This video was a little shocking of how world can effect our lives in our own country. It was a dark video to me.

]]> 2018-04-01 17:07:20 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247682730 Data and Statistics be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247683854 In this video I have learnt that the middle class in Canada are shrinking. He has suggested in this vidio to buy a property or start a small business to stay in this class. He also provides some data and statistics to show how the housing market has been changed during the years. He also introduces a website that he has picked his data from. Between 1991 to 1996, the market price decreased, and some people sold their houses, but in the next 6 years period, the price increased again. 
I used this YouTube because showed me graphs that helped me to understand the housing market and why people decided to sell their properties in a specific period of time.]]> 2018-04-01 17:25:54 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247683854 Housing in Vancouver be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247685419 This specialist believes the reason of high housing price in Vancouver is money laundering. Based on his opinion, the Chinese have transferred lots of money and bought houses that causes increasing the prices. He believes someone needs to speak up and stop this because people buy houses, but they leave them vacant. He believes by stopping this the housing market can be affordable for middle class families. He has also mentioned the mortgage fraud in Toronto which is under investigation. He offers to sell your house in Vancouver and rent a place or move out. 
The reason for high market price in Vancouver was interesting. I liked the idea that someone needs to do something to help middle class to buy their homes.  

]]> 2018-04-01 17:50:06 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247685419 Answers to Some Questions be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247688247 1.What did you learn about the topic that most surprised you?
2.Provide a real-life example of how this topic is relevant or interesting for you.
3.Which research did you find most interesting?  Why?
]]> 2018-04-01 18:34:20 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247688247 Tenant In Common be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247700097 Tenants-in -Common is a way to share owning a property with others. All those people together shape the ownership and at the same time share the costs and expenses regarding the property.
http://langleynotarypublic.ca/joint-tenancy-part-2-of-4-joint-tenancy-vs-tenancy-in-common/]]> 2018-04-01 21:04:57 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247700097 The Power to Buy be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247701057 This image clearly shows how new rules impacts buying a home. As long as the income is the same, the power of purchasing a house is lower.
https://www.huffingtonpost.ca/2016/10/08/canada-mortgage-rules-millennials_n_12391596.html]]> 2018-04-01 21:18:50 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247701057 Low Rate or Low Price be_nikjob https://padlet.com/be_nikjob/lzp806l92wij/wish/247702192 This picture explains how the interest rate is a factor for deciding to buy a house or not. As this shows, when the interest rate is low, it is a good idea to buy a house even the price seems to be high . We will pay less interest during the mortgage's life which means we will pay less in total.
http://rutenbergblog.com/what-does-250000-buy-on-long-island/]]> 2018-04-01 21:35:54 UTC https://padlet.com/be_nikjob/lzp806l92wij/wish/247702192