https://padlet.com/fionaweeden/ra6d1kfcd7gp495o Fiona Weeden - Money Matters GNED course en-us 2023-04-02 20:07:31 UTC 2023-04-03 01:19:23 UTC hello@padlet.com fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541332194 Welcome to my padlet about the Canadian housing market. Throughout this padlet you will see various images, videos and website links to better your understanding of the housing market in Canada.]]> 2023-04-02 20:15:15 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541332194 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541350186 This website communicates many factors that are paying an influence on the housing market in Canada. Some of these things include, The Bank of Canada's benchmark rate, inflation, mortgage rates, housing supply, housing builds, rents, immigration and much more. 

I chose to include this website in my padlet because it is quite current about the information thats affecting the housing market in Canada. Many websites only give a glimpse into one or two of the important factors, however this website encompasses all of the factors which I found very helpful in learning about it all as a whole. ]]> 2023-04-02 20:53:20 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541350186 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541362270 This website communicates the outlooks of how the housing market is projected to adjust throughout 2023. Some key points from this website include the interactive maps and charts of different areas within Canada. 

Something that is unique about this website is the interaction ability that you can look and manipulate any of the regions of Canada for the different informations that you are trying to look at which I found quite interesting and helpful. ]]> 2023-04-02 21:20:12 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541362270 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541363985 This website communicates more information about the trends and affordability of the housing market in Canada. This information coming from a bank in Canada helps us to know that this information is reliable and also with the trends and charts on this website, we can see and compare easily to see how high the interest rates are right now compared to other years and how this is directly affecting the prices of homes.

I chose this website because I found that the charts and diagrams on this website were easy to read and interpret which makes it much easier to pull facts and stats out of it and make accurate judgements based on this information.]]> 2023-04-02 21:24:37 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541363985 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541368020 This website directly is communicating about the prices and the price increase of homes over the past 10 years (approximately). This website also has charts that help to understand the trends and the rise and fall of the housing prices over the years. In 2022, the prices were highest they've been in the last 10 years. 

I chose this website because it talks about the different types of housing. Apartments, single-storey, double-storey, and townhouses. I found that this was unique because most other sites just talk about one type of house, or they generalize all housing types together.]]> 2023-04-02 21:33:50 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541368020 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541447225 This video reveals how the prices of the housing market in Ontario specifically, will rise be rising and how people are sometimes in some situations being forced to sell their houses due to other financial burdens. 

This video was chosen because it is an interesting news interview that one would think is aimed towards adults with established homes already, but it also is aimed towards the younger population that is going to be buying homes in the coming years also.]]> 2023-04-03 00:13:18 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541447225 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541457991 This video reveals many of the issues surrounding the rising home prices and why this is problematic for our population. This video mentions specifically Toronto and Vancouver as 2 of the most expensive cities in Canada to live in and they also mention the aspect of the rapidly rising population and how this contributes to the problem at hand. 

I chose this video because I believe it showed the issues with the rising home prices with different points at hand than most other videos.]]> 2023-04-03 00:25:29 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541457991 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541476920 This video discusses how the housing market could be viewed from the bank's prospective and something that I took away was how it would negatively affect the banks if people are unable to afford the high prices of their homes so the bank gains the keys to a home that is extremely "overvalued". 

I chose this video because I believe it is important to consider many different stances on these issues, including a group as powerful as the banks.]]> 2023-04-03 00:43:15 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541476920 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541487109 This video reveals a different point of view again that discusses how many real estate experts are believing that the home prices in Canada will drop again. Just about a year ago, the houses were delving into bidding wars and deep issues with houses selling extremely fast and for far more than they were listed for. Currently, houses are staying on the market longer and they are not selling for as far over asking price as they were not long ago. 

I chose this video because it is nice to see a different view that a lot of real estate experts believe could be expecting to happen. With that, this is yet another projection based on trends that people are trying to make educated guesses about.]]> 2023-04-03 00:53:36 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541487109 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541496100 This graphic expresses that there was a difference in how the mortgage rates grow and fall over the years and how it is different based on your buyer status (first time, repeat, or investor). It is noted how high it increased around 2021 and 2022.]]> 2023-04-03 01:02:44 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541496100 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541504828 This graphic expresses how in comparison to other statistics, Canada's housing prices are more overvalued homes in comparison to other countries in the world. This is interesting because although there was one dip around 2008, it is fairly consistently increasing since then until present day.]]> 2023-04-03 01:09:42 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541504828 fionaweeden https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541515350 1. What did you learn that surprised you most about this topic?
Something that surprised me the most was how the house prices have increased but they are now titling the homes as overvalued. From what I understood before is that there was more of an increase in value in homes, however it is just the price and not the value that increased. 
2. Provide a real life example of how this topic is relevant for you.
This topic is interesting to me because my boyfriend and I are hoping to buy a house fairly soon after I graduate and with the way the some real estate experts are suspecting that the housing prices will be decreasing this year, this is good news for us. 
3. What is the most important thing you learned that you would pass on to a family member or friend? 
Something that I believe would be important to pass along to a family member or friend would be that the housing market is always going to rise and fall throughout the years and so it is important to do research on the trends and current trends when considering when it would be a good time to buy or when it would be a good time to sell.]]> 2023-04-03 01:19:10 UTC https://padlet.com/fionaweeden/ra6d1kfcd7gp495o/wish/2541515350