Canada’s housing markets, especially the Greater Toronto Area (GTA) and Greater Vancouver, are showing subtle signs of slowing but remain hot and prices are still rising rapidly.
Prices are up as much as 35 per cent or more in some suburban and rural neighbourhoods. There’s even a boom in cottage country. Some economists are calling on Ottawa to introduce policy to cool the market, including taxing the sale of a primary residence.
We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.
They shared their thoughts on where they see the markets going and how effective a number of policy measures could be to put a lid on through the roof prices.
Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.