Canadian Real Estate News Headlines (January 8th, 2019)

Hello everyone. How are you?

I provide you with Canada’s news headlines for real estate news for today. 

This is how Canada’s housing correction begins

Canadians are finally getting a taste of what a world with rising interest rates will look like, and one thing is painfully clear: we’re not ready for what happens next.

The details can be found here. 

Housing affordability to worsen in 2019 even as market cools, says RBC

Even as house prices dip or rise only modestly in 2019, home affordability will decline in most Canadian cities, according to a recent report from the Royal Bank of Canada. 

The cost of home ownership relative to median incomes will continue to rise, RBC said, forecasting higher interest rates will make carrying a mortgage more expensive. 

The details can be found here.

Cooler housing market will slow Canadian economy

Housing markets across Canada contribute billions of dollars annually to the country’s economy, making up almost eight percent of gross domestic product (GDP) between 2010 and 2017. 

The details can be found here.