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THE LIFE OF FALLON 335


CAUSEHUBCAP50'S BLOG


CANADA ELECTION: DEEPENING HOUSING CRISIS LOOMS LARGE - AL - THE FACTS

October 13, 2021
8 eye-popping facts about Canadian real estate




GETTING MY CANADA ELECTION: DEEPENING HOUSING CRISIS LOOMS LARGE - AL TO WORK



Canada beings in a housing crisis of its own, and its government is considering
some unconventional fixes. Prime Minister Justin Trudeau aims to ban blind bids,
which keeps buyers from seeing others' offers. The ban would "punish predatory
speculators," he said. Packing Something is loading. Canada frantically requires
inexpensive houses.


House prices in Canada rose 22% over the previous year, and the mean house cost
sits at a record high, the Canadian Real Estate Association stated. Material
scarcities and soaring building and construction expenses also put the country
in a bleak supply scarcity. The Bank of Nova Scotia approximated that the
country has less homes per 1,000 residents than any other G-7 country.


Victoria has third least-affordable Canadian housing market: RBC - Times
Colonist



On the supply front, Trudeau rolled out a plan last week that intends to build
1. 4 million houses over the next 4 years. Yet the prime minister's plans for
accessible homebuying are maybe more ambitious. For one, Trudeau seeks to ban
blind bidding. Because procedure, bidders can see the asking price of the house,
but not what other potential purchasers quote.




9 SIMPLE TECHNIQUES FOR CANADIAN PROPERTY BUBBLE - WIKIPEDIA



Disallowing such bidding would help "punish predatory speculators" and produce a
fairer market, Trudeau said in an August 24 speech. The prime minister also
plans to ban the buying of Canadian homes for financial investment functions.
Real estate markets in Canada's largest cities have been increasingly flooded
with foreign buyers as investors seek to profit from skyrocketing rates.


"No more foreign wealth being parked in houses that people ought to be residing
in."Some of Trudeau's plan has currently received pushback from Canadian
real-estate agents. Prohibiting blind bidding would keep homeowners from selling
their homes "the way they desire," and increasing supply is a a lot more
reliable method to aid affordability, the CREA said in a statement."Open bidding
is still bidding," the association included.


Erin O'Toole, the party's leader, proposed a strategy recently that would
likewise disallow foreign financiers from purchasing for 2 years and lift supply
by reconditioning 15% of federal buildings for housing usage. Despite Look At
This Piece , each celebration's plan strikes a starkly various tone from their
southern neighbor. While the United States continues to come to grips with
similar affordability pressures, the federal government has actually done little
to aid buyers.


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