Something has shifted in Canada’s housing market. This shouldn’t come as a surprise, given something has certainly shifted at a global geopolitically level. You might even call it a “tarrifying” headwind for Canada’s real estate market.
For years, supply was tight, and homebuyers outnumbered sellers in Canada’s real estate market. But as 2025 begins, the landscape looks strikingly different. New listings are pouring into the market at an extraordinary pace, while sales are faltering under the weight of mounting economic uncertainty.
As is tradition, when facing an unknown future, Canada’s real estate market has decided to hit the “pause button.” It is not uncommon to see the market take a breath when we’re facing a historic election, a pandemic or a changing economy. Today’s trade war is no different.
Canada’s problems are perhaps not so much about American tariffs as joining the EU/Britain in their latest scheme:
https://united24media.com/latest-news/europe-eyes-unprecedented-eur700-billion-military-aid-plan-for-ukraine-5981
https://www.lemonde.fr/en/france/article/2025/02/19/macron-holds-second-day-of-emergency-talks-on-ukraine_6738336_7.html
This is a larger amount than the EU Covid relief package for all member countries — as should be noted. And it is worth noting that Canada is being included, which likely means you (Canadian taxpayers) will be on the hook for much of this as well as the European and British taxpayers…regardless of any defensive good or benefit for Ukrainians it would create (my bet is on “not much”, but pockets will likely be lined). European, Ukrainian, British, Canadian leaders like to wrap themselves in the blue and gold and say pretty words, but dead or miserable Ukrainians mean nothing to them, and I dare anyone to say I’m lying with this statement.
Be interesting to know who is selling the properties — those are likely the smart rats.
Because I’m at heart a humane person even though I have at this point no love lost for any of you I will say this: the people need to wake up; you will be paupered and enslaved if this keeps up; you’re almost there as it is.
Was speaking yesterday with a real estate agent of 25 yrs experience in New Brunswick who said she’s never seen such a rush to list and sell.
Anyone paying $1500.00 bucks to hear Carney is too dumb to vote.
Given the slate of candidates he knows he has the job he’s been licking his lips for.
Haven’t heard if he’s been out to smell the barns yet.
The biggest joke of all is ravishing Ruby Dhalla, looks like she’s fresh out of Bollywood.
Re: Ruby.
Ya, there is a whole lotta “heavy lifting” being done by the AI photo filters there.
Given that we are still being swamped with third worlders and more people are coming here than houses being built I can only conclude that more houses are coming on the market because more people are leaving.
It’s also likely that people are trying to sell their homes because they can no longer afford to keep them.
People are attempting to cash out at the top of a bubble and now the market is saturated with listings of used units all while pre-sales of condos are stalled which means their completion could be on hold because pre-sales are required for financing. This will exacerbate the shortage in a few years. Meanwhile 6% of Canada’s population are here on student visas and the finest examples of the ME continue arriving to enjoy the bounty of a bankrupt welfare state.
There is no shortage of condos at all, there are literally thousands coming to completion, the problem is the buyers can’t execute, they are worth 30% less than their agreed purchase price and the buyers can’t get a mortgage.
BoC will be forced to slash rates. Rates are going to 0, or negative. Taxes are going to skyrocket.
Jt trying hard to setup it up for The Carney Show.
Hi speed rail $$ with SNC (cough)
$$ for AI and Uke with EU
Kicking out leader candidates
TBF … didn’t your lame PM duck promise a million new homes, or something? Those homes must all be coming on line … right?
Kenji
Those houses are like Biden’s EV charging stations. Figments of the imagination, and dollars in someone’s Swiss bank account.
I think this is going to be Canada’s 2008 moment. We probably don’t have long to wait.
Added to this toxic mix is the progressive resetting of mortgage rates to much higher levels. Rates have dropped a bit from their peak, but they’re still exponentially higher than 5 years ago.
Canadian rates, along with the dollar, are about to crash. BoC is going to be forced to slash rates.
Eventually you will fulfill your destiny. You will become Americans.
The Canadian people as a whole, including as businesses, are reluctant to embrace supply-and-demand — knowledge of which is really all you need in studying economics. In Canada, a seller will decide, “If it’s not selling it will just sit (regardless of the opportunity cost among other costs.)” There wouldn’t be houses sitting unsold if their seller was asking the right price.
Canadian rates are about to go negative.