Home Prices Will Tumble Down Soon?

The real estate market is getting too hot, prices have reached insane level, our Liberal leaders wanted the house prices to drop …

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How Canada’s hot housing market is propping up GDP growth

bnn.ca  – ‎Jun 30, 2016
The real estate and rental category measured as part of Canada’s GDP represents the output of real estate agents, brokers, landlords and other related services. In other words, it’s an indicator of the health of the resale market, as opposed to changes …
The one quick way to cool the GTA housing market: Mayers 
Nothing to see here: Mortgage industry says there’s no housingbubble in Canada 
Douglas Todd: Ten ways to ease Metro Vancouver’s housing crisis 

Canada Needs House Prices To Drop. Here’s How To Make It Happen.

Huffington Post Canada – ‎Jun 25, 2016‎
Evidence is growing that house-flipping — investors buying houses and quickly selling them at a much higher price — has become a major problem in Toronto and Vancouver. House-flipping drives up prices. It’s artificial “demand” for housing that …

Ottawa forms working group to address Ontario, BC housing markets

Toronto Star – ‎Jun 23, 2016‎
The federal government is creating a working group on housing with the Ontario and British Columbia governments as well as officials from Vancouver and Toronto amid warnings that housing prices in those cities are rising at an unsustainable pace …

Making homes more affordable requires balanced approach

Data released by Altus Group shows record-low inventory levels of new ground-related housing especially detached homes in the GTA today.

Victoria homeless camp a symptom of BC’s broken housing market

CBC.ca – ‎Jun 28, 2016‎
Coincidentally, the B.C. housing minister is hosting Canada’s federal, provincial and territorial housing ministers in Victoria this week to plot a course for future housinginvestments. The federal minister responsible for housing, Jean-Yves Duclos …

As a result, we can expect real estate sales to decline, and that house prices will go down (soon)?

But how can this happen when there is listings shortage?

The number of new detached homes for sale in Toronto has never been this low

Toronto area builders say they never seen so few low-rise homes available for purchases in the GTA, a fact that has pushed average-priced detached homes well past $1-million. The Building Industry and Land Development Association said Tuesday that 90 …

Toronto Real Estate Sees Fewer Low-Rise Homes For Sale Than Ever: BILD

Indeed, the average price of a new low-rise home in the GTA hit a record high of $875,174 in May. The average price of a detached home alone hit $1,125,988. Throughout the GTA, low-rise home sales fell to 2,091 from 2,448 last year. But nowhere was the …
Already happening?
Not yet.
Not so soon. Look, developers are pulling the brake to create to reduce the supply again … Home prices can never come down as long as there is not enough house to go around: –

CMHC says housing starts slowed in May

The pace of urban starts slowed by 2.5 per cent in May to 170,432 units as multiple-unit starts fell 5.7 per cent to 110,834 and single-detached starts increased 4.2 per cent to 59,598. The annual pace of urban starts fell in British Columbia and the …

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