Canada’s fertility rate, which has been steadily declining, has hit a record low and the country is now among the “lowest-low” fertility nations.
The U.S. Federal Reserve’s 50-basis-point interest rate cut on Wednesday is having ripple effects north of the border, with experts pointing to implications for both the Bank of Canada and Canadian mortgage holders.
Ontario’s ambitious target of building 1.5 million new homes by 2031 was slipping away and looking near impossible to achieve, with the government admitting aggressive changes were necessary.
Greater Toronto Area-real estate watchers say the combination of high interest rates and an uptick in new condo units coming online has led to an oversupply that will take time to balance out.
While the Bank of Canada may be lowering interest rates, the move is not having an immediate effect on Canada‘s housing market, an economist at one of Canada’s biggest banks says.
The Bank of Canada lowered its key interest rate by 25 basis points on Wednesday and opened the door to bigger cuts if the economy slows more sharply in the months ahead.
Changes in interest rates will not solve what is an ongoing structural problem, particularly evident in the GTA. The cost to build, driven by excessive government fees and taxes, is simply too high. Without immediate action by government, new construction activity will continue to slow and the GTA’s housing shortage will reach unprecedented levels over the next few years.
Canada’s fertility rate, which has been steadily declining, has hit a record low and the country is now among the “lowest-low” fertility nations.
The U.S. Federal Reserve’s 50-basis-point interest rate cut on Wednesday is having ripple effects north of the border, with experts pointing to implications for both the Bank of Canada and Canadian mortgage holders.
Ontario’s ambitious target of building 1.5 million new homes by 2031 was slipping away and looking near impossible to achieve, with the government admitting aggressive changes were necessary.
Greater Toronto Area-real estate watchers say the combination of high interest rates and an uptick in new condo units coming online has led to an oversupply that will take time to balance out.
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