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Mortgage 101 - Recap of 2024 Real Estate Market Challenges
Manage episode 446128948 series 3484554
A tartalmat a Podstarter and Clinton Wilkins Mortgage Team biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Podstarter and Clinton Wilkins Mortgage Team vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
In early 2024, the Ontario real estate market slowed significantly, while Nova Scotia's affordability stood out with an average home price of $500,000 in Halifax. Building costs and labour have surged due to inflation, affecting both new construction and renovations. First-time homebuyers are increasingly opting for starter homes, often in need of repairs. Atlantic Canadians are particularly burdened by debt, with 70% expressing concern about repayment. Despite high interest rates, there's cautious optimism about potential rate reductions, with predictions of a 200 basis point reduction by 2025. The housing market remains a seller's market, with a need for a more diverse inventory.
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