According to a Bloomberg report, Canada’s housing market has gone on to another record year of gains, even surpassing the wins in the red-hot U.S. market.
The impressive housing market boom is coming against a gloomy prediction in which Canada’s national housing agency has forecasted a dive in home values ranging from bad to catastrophic as a result of the COVID-19 pandemic.
Canada’s housing market started in 2021 with prices already at record levels, posting annual profits of 30 percent in many communities across the country.
Sal Guatieri, a senior economist with the Bank of Montreal, stated that “the housing market is on fire, and there does not seem anything to put out the fire.” According to him, Canadians are spending a lot more keeping a roof over their heads than they are on machinery and equipment.
Canada’s remarkable capacity to attract immigrants, more than 300,000 newcomers a year, often tops the list of why the housing market has not and may never collapse.
Canada remains a fertile land for foreign direct investment (FDI) and welcomes investors into all Canadian economy sectors, including the housing market.
Investors can now participate in the forthcoming virtual FDI Canada Forum, a platform for investors globally to learn about the Canadian Investment Opportunities Database, holding between May 5 – 6. Interested participants can register here. Early bird registration attracts a 25% discount till April 6, 2021.
Original Source:
https://www.bnnbloomberg.ca/housing-boom-that-never-ends-has-wiped-out-all-the-short-sellers-1.1577168
