Smart Advice with Carissa Lucreziano
Business:Investing
Navigating Canada’s real estate market with Benjamin Tal
Dive into the complexities of the Canadian housing market with our latest episode of "Smart Advice," where we explore the challenging landscape of real estate affordability, market dynamics, and government policies.
In this episode, CIBC’s Deputy Chief Economist, Benjamin Tal dissects the ongoing affordability crisis, stagnating market trends, and the anticipated impacts of governmental and economic shifts on both buyers and investors.
Whether you're a homeowner, potential buyer, or investor, this episode offers invaluable insights into navigating the uncertainties of the Canadian housing market and preparing for upcoming financial challenges and opportunities.
Tune in to gain expert advice and stay informed about the future of real estate in Canada.
Here are three reasons why you should listen to this episode:Episode HighlightsCanadian housing market affordability crisis
[04:09] Benjamin: “This is not a mild recession. This is a major crisis when it comes to affordability.“
[06:46] Benjamin: “We have to realize that we need much more supply of rental units in order to tackle this affordability crisis that we're facing.”
[10:25] Benjamin: “With no demand and supply still in the market, I see the condo space relatively soft. After that we get to see it's starting to go down and no supply in the market, you will see investors going back into the market, but that will be a year from now, two years from now.”
Government policies on the Canadian housing market[12:59] Benjamin: “It seems that the Bank of Canada is overshooting by design. They want to make sure that inflation is dead before they cut interest rates and there are very good signs when it comes to inflation.”
[20:59] Benjamin: “So what do you want to do? Well, it depends on your situation, of course, depends on your risk appetite. But in general, it would be not a bad idea to try to buy time to take a short term mortgage, namely one, maybe two years mortgages by the time and then ride the variable rate mortgages later and take advantage of the fact that the trajectory would be downward as opposed to upward.”
About Benjamin TalBenjamin Tal is a prominent Canadian economist and the Deputy Chief Economist at CIBC, one of Canada's leading banks. With years of experience in economic analysis and financial forecasting, Benjamin is widely recognized for his expertise in analyzing macroeconomic trends and their implications for the global and Canadian economies.
At CIBC, he plays a crucial role in advising both the bank and its clients on economic developments and investment strategies. His analytical skills and deep understanding of economic intricacies make him a respected figure in the financial community.
Learn more about Benjamin through CIBC.
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