https://padlet.com/austin_booth3/Money_Matters Assignment #2 en-us 2017-04-03 22:30:47 UTC 2026-01-20 19:11:53 UTC hello@padlet.com austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164490873 2017-04-03 22:41:39 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164490873 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164491097 In this website, you will find information on the state of the Canadian housing market in 2017 and what has changed over the years.]]> 2017-04-03 22:44:14 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164491097 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164492092 This article reveals that the CEO of Scotiabank says he’s concerned about the possibility of a housing market correction in Toronto and Vancouver. This directly relates to the current state of Canada's housing market. He states that "Trees don’t grow to the sky and markets will correct at some stage here". The head of Canada’s largest bank said it was time to consider bringing measures that cooled Vancouver’s housing market to Toronto. People are concerned because there has been a 20 percent house price growth in a market that most people do not think should be having that growth. Basically, they do not believe that the housing market can keep rising and it will correct itself soon. ]]> 2017-04-03 22:55:47 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164492092 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164492676 In this video, an author and economic analyst discuss extensively about the fall of the Canadian housing market, most notably in Vancouver and Toronto. Some interesting statistics are brought up too. In Toronto, single-family detached houses are reaching prices of at least 1 million dollars, almost doubling this year in the Greater Toronto Area. Also, the Greater Toronto Area saw 2,876 sales of detached properties of $1 million or more in January and February compared with 1,548 in the first two months of 2016. I found these statistics to be more so scary than interesting, they have to drop eventually, right?


]]> 2017-04-03 23:04:33 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164492676 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164494164 This article discusses five different topics all related to Canada's housing market. These topics are; Toronto will stay hot, Vancouver could cool, Everywhere else will cool slightly or stay the same, Breaking into the housing market will get even harder, and Donald Trump will indirectly affect the Canadian housing market. The main point that stands out to me is the one that suggests that Toronto will stay hot. Experts say GTA will be the strongest market in 2017 because of supply and demand. There aren’t a lot of detached and semi-detached houses and lots of people want them, which will continue to push prices higher. As a soon to be first time buyer, another topic that stands out is that breaking into the housing market will get even harder. Due to mortgage rule changes will result in first-time home buyers losing about 20 per cent of their purchasing power. Down payments are going to have to be larger to qualify for higher rate mortgages. This likely means buying cheaper houses, or just renting could be a realistic alternative for the time being. ]]> 2017-04-03 23:25:47 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164494164 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164498028 This image displays a house located in Toronto that is worth 1.1 million dollars. I chose to include this picture to show how absurd the housing market has become around here. I wonder what this house was initially worth when it was first built. ]]> 2017-04-04 00:16:10 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164498028 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164498797 In this video, a CBC columnist discusses the  governments need to do something about Toronto's alarming housing market, which is following in the footsteps of Vancouver.  Vancouver had prices raise by tens of thousands of dollars a month over a relatively short period of time. Families were not able to afford these houses and they were bought, typically, by foreign buyers, which resulted in the houses being left empty.  Once a foreign buyers tax was implemented, the number of transactions dropped and there were less "empty" houses. In February, home prices rose 27% over the pervious year, while the average salary rose by only 5%. The government needs to implement something to combat these extreme changes. One interesting thing I learned from this video was that Toronto is outpacing markets such as Manhattan and San Francisco. ]]> 2017-04-04 00:24:12 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164498797 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164500648 This graph shows the average national house price in Canada and the fact that it has slowly been on the rise every year. Over 11 years the average price jumped over 200K. Back in 2004, the average house sold for 225K, while in 2015, the average house sold for 440K. The graph does not have any major dips throughout the years, this indicates that the average price is going to continue to rise. ]]> 2017-04-04 00:45:02 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164500648 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164502076 This article explains how the city market is on the overpriced side in comparison to country market. As families or new home buyers are realizing this it is forcing them to find a house that may require a longer commute to work/school but will be priced fairly. As population of the city grows, the housing market tends to follow, this can result in over priced houses due to location and buyers are realizing this as they move towards the countryside.]]> 2017-04-04 01:03:44 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164502076 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164502245 This video explains how an expert predicts how Canadian’s housing market will end up this year in 2017 and the reasons why for some major populated areas. As he expects the overall market to slightly increase even though RE/MAX expects it to increase 2%. It will be interesting how the new housing rule will play a factor, as the mortgage rate will increase.]]> 2017-04-04 01:05:59 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164502245 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164502503 Generally, when you are buying a house, the bigger the house the more money it cost which is true to a certain extent. Another factor that relates to the cost of house is where the house is located and this plays a part in city areas where small houses still sell high]]> 2017-04-04 01:08:40 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164502503 austin_booth3 https://padlet.com/austin_booth3/Money_Matters/wish/164506693 2017-04-04 01:49:17 UTC https://padlet.com/austin_booth3/Money_Matters/wish/164506693