Canada's real estate crash explained & 2023 update

Описание: The Canadian housing market is at risk of collapsing, according to Bloomberg. The Bank of Canada is considering new rules to restrict buying in order to prevent people who cannot afford mortgages from obtaining them. The bank's mortgage business has declined over the past six quarters, which is an indicator of the Canadian housing market. Private mortgage lenders are also exiting the Canadian real estate market due to rising default rates. The real estate industry makes up 22% of Canada's GDP, and the Bank of Canada is considering increasing interest rates to prevent inflation from rising too quickly. However, this increase in interest rates could also hurt the real estate industry. Inflation is expected to decrease to 2-3% within the next 3-6 months, at which point the Bank of Canada may lower interest rates in order to save the real estate industry.

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