Fara Ghafari, 88 West Realty
Fara Ghafari is a licensed real estate agent as well as a REALTOR® in CREA and an expert in rental and for-sale properties at 88 West Realty.
Fara Ghafari is a licensed real estate agent as well as a REALTOR® in CREA and an expert in rental and for-sale properties at 88 West Realty.
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Canada: Buy Now or Wait on Housing?
A recent poll found 64% of Canadians said timing a home purchase perfectly is impossible, while 73% said economic uncertainty makes acting harder. Among Canadians planning to buy within the next 2 yr, 45% said now is the right time, versus 27% of Canadians overall. Some purchasing power returned as borrowing costs eased, but mortgage […]
Canada’s Foreign Buyer Ban Ends in 2027
Canada’s foreign-buyer ban is set to expire January 1, 2027, and federal officials are exploring rules steering offshore money toward new construction and redevelopment. Housing supply remains central: the housing agency says Canada must roughly double annual starts over the next decade, from ~259K now to 430K-480K. The model under review would allow foreign purchases […]
StatCan: Immigrant homeownership climbs while Canadian-born rates slip
New data shows immigrants are buying homes faster despite affordability challenges. In several provinces, immigrant homeownership rates in their fifth year have risen, narrowing the gap with Canadian-born residents. Most immigrant homeowners had prior Canadian experience, aiding mortgage qualification. Immigrants buy more expensive homes and face higher mortgage payments but contribute less to retirement savings, […]
Canada housing affordability and market trends
Home buying in Canada has become more challenging due to a pandemic-driven housing boom and inflation spikes. The Bank of Canada raised rates sharply from 2022 to 2023 but has since cut rates nine times, holding the overnight rate at 2.25%. Inflation is expected to ease toward the 2% target, reducing the likelihood of further […]