Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Bank of Canada Rate Hold, Housing Supply Gaps, and Economic Insights
The episode begins with an introduction and welcome, followed by a sponsor message from Real Approved Incorporated. A discussion on the Bank of Canada's decision to hold the overnight lending rate steady is presented, along with the impact of U.S. trade tensions on Canada's economy. The episode delves into the balance between supporting the housing market and addressing inflation concerns, referencing a CMHC report on housing supply gaps. The conversation shifts to Prime Minister's housing goals and TD Bank's skepticism, highlighting the systemic changes needed in the sector. The episode concludes with closing remarks and a sponsor reminder.
Key Points
- The Bank of Canada has decided to hold the overnight lending rate steady at 2.75%, following a year of rate cuts.
- The Canada Mortgage and Housing Corporation reports that to return to 2019 levels of housing affordability, Canada needs to double its current pace of housing construction to between 430,000 and 480,000 units annually over the next decade.
- Prime Minister Mark Carney's goal to build up to five hundred thousand housing units annually is seen as ambitious, with skepticism from the Toronto-Dominion Bank regarding the feasibility of meeting these targets.
Chapters
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Transcript
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