{"id":24599,"date":"2017-08-08T17:06:10","date_gmt":"2017-08-08T22:06:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=24599"},"modified":"2017-08-08T17:06:10","modified_gmt":"2017-08-08T22:06:10","slug":"what-slowdown-vancouver-and-toronto-real-estate-markets-still-hot-and-unaffordable-for-many","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=24599","title":{"rendered":"What slowdown? Vancouver and Toronto real estate markets still hot and unaffordable for many"},"content":{"rendered":"
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What slowdown? Vancouver and Toronto real estate markets still hot and unaffordable for many<\/a><\/h3>\n<\/div>\n

Housing prices are once again climbing in Vancouver and Toronto may soon follow<\/strong><\/p>\n<\/div>\n<\/div>\n

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\"Emelia<\/p>\n

Emelia Symington Fedy with her partner, Christie Watson, and two children in Vancouver \u2014 the city the family is leaving because they can’t afford to live there. (Emelia Symington Fedy)<\/p>\n<\/div>\n<\/div>\n

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With recent price declines in Canada’s hot\u00a0real estate markets, there’s been talk of\u00a0a slowdown<\/a>. But, so far, it’s hardly something for prospective buyers to get excited about.<\/p>\n

While prices did drop\u00a0after the introduction of a foreign homebuyers\u00a0tax in Vancouver last year, they’re once again surging to new highs.<\/p>\n

In Toronto, both prices and sales have taken a dive\u00a0since\u00a0the same type of tax came into effect in April.<\/p>\n

Some had hoped a combination of recent government\u00a0rule changes making it harder to get a mortgage,\u00a0higher mortgage rates and the foreign buyers\u00a0tax might have a lasting effect in cooling the market.<\/p>\n

However, Toronto home prices are still\u00a0up compared to last year and some industry experts predict\u00a0that, as in Vancouver, the city’s recent dip will simply be a blip.<\/p>\n

And as long as Toronto and Vancouver’s real estate markets continue to sizzle,\u00a0many people will continue to find home ownership out of reach in these cities.<\/p>\n

‘I just don’t get to live here,” says Emelia Symington Fedy, who’s moving her family from Vancouver to Halifax because she can’t afford the high cost of housing in her beloved city. “It feels like my lover has jilted me. I’m heartbroken.”<\/p>\n

Vancouver downturn dashed<\/strong><\/p>\n

In August 2016, the B.C. government implemented a 15 per cent tax on foreign nationals<\/a>\u00a0buying property in Metro Vancouver to help cool skyrocketing house prices. For a time, the tax appeared to be working.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

What slowdown? Vancouver and Toronto real estate markets still hot and unaffordable for many Housing prices are once again climbing in Vancouver and Toronto may soon follow Emelia Symington Fedy with her partner, Christie Watson, and two children in Vancouver \u2014 the city the family is leaving because they can’t afford to live there. (Emelia […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,1956,3000,2340,15065,803,1340],"class_list":["post-24599","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-housing-market","tag-cbc-news","tag-housing-market","tag-sophia-harris","tag-toronto","tag-vancouver"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24599"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24599\/revisions"}],"predecessor-version":[{"id":24600,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24599\/revisions\/24600"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}