Real estate is a great hedge against inflation. As interest rates rise, so do property values which can translate into taking a larger loan for example.
King...you better land in AB soon, heard many BC and Ontarians are moving to AB driving up prices
The whole point of the housing discussion is that if you're planning on buying a house now, don't. Give it about 1-2 years. The market will crash and so too will housing prices.
Idk, maybe to someone who thinks they would never have a shot in the first place.
People apply for H1 while being on TN to be able to apply for GC.
and if not then what? some people in my country have been saying this crash for 6 years now!!! Prices more than tripled since then and many have priced out of the market.
It will only crash if they raise interest rates (or borrowing costs). Right now, it looks like they would rather inflation take off
They may have come on a TN visa and might have changed to either L1 or H1. TN to GC is not possible unless they changed to TN to L1/H1 to GC. Go thru the below link. It gives you a better picture.
I think it’s harder there, because there aren’t as many dumbasses taking variable rate mortgages. If it raises and low money investors can’t pay the mortgage, they are forced to sell. Though right now, it’s easy to sell, but if too many sell at the same time, they are forced to lower asking price to sell quick because they can’t afford mortgage.
Probably the housing boom will slow down soon and HOPEFULLY wages will follow in the upcoming years so the real value of the property will decrease even if nominal still slightly increases.
I got an email from the PR Portal email about approval, and had to reply to it to confirm details, including that i was in Canada. It wasn’t a “donotreply” address though.
I need to buy one now, maybe when I reach 50 I get an ITA then having that house will be useful.
