<description>&lt;p&gt;First time buyers in Canada have been told to wait, save more, and be patient for years now, and the market has not rewarded that patience. In this episode we sit down with Shaun Cathcart, Senior Economist at the Canadian Real Estate Association, and we get into what the actual data says about where the Canadian real estate market stands right now, how mortgage rate swings and global events are reshaping what buyers can realistically afford, and whether the long awaited recovery is something buyers can actually count on or just another headline that fades. Shaun also breaks down the housing supply problem in a way that makes clear why building more homes is not as simple as politicians make it sound.&lt;/p&gt;&lt;p&gt;If you are a first time buyer in Ottawa or anywhere in Ontario trying to figure out whether now is the time to move, this conversation gives you the clearest picture available right now from someone who works with the data every single day.&lt;/p&gt;&lt;p&gt;00:00 Intro&lt;/p&gt;&lt;p&gt;02:52 Market Uncertainty and Economic Factors&lt;/p&gt;&lt;p&gt;05:32 The Impact of Rising Mortgage Rates&lt;/p&gt;&lt;p&gt;08:56 First-Time Buyers and Market Dynamics&lt;/p&gt;&lt;p&gt;11:11 The Missing Middle in Housing Development&lt;/p&gt;&lt;p&gt;16:19 The Role of Purpose-Built Rentals&lt;/p&gt;&lt;p&gt;22:40 Future Predictions for the Condo Market&lt;/p&gt;&lt;p&gt;26:14 Reallocating Housing Resources&lt;/p&gt;&lt;p&gt;28:41 Land Transfer Tax Credits for Downsizing&lt;/p&gt;&lt;p&gt;33:09 Job Market Dynamics in Ottawa&lt;/p&gt;&lt;p&gt;40:10 Spring Market Trends and Predictions&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Get in touch with us!&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Paul Stevenson&lt;/strong&gt; - Mortgage Agent Level 2&lt;/p&gt;&lt;p&gt;CENTUM Financial Services LP&lt;/p&gt;&lt;p&gt;Email: &lt;a href="mailto:paul@paulstevenson.ca" rel="noopener noreferrer" target="_blank"&gt;paul@paulstevenson.ca&lt;/a&gt;&lt;/p&gt;&lt;p&gt;Phone: 1-613-263-4543&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.paulstevenson.ca/" rel="noopener noreferrer" target="_blank"&gt;https://www.paulstevenson.ca&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;David Warren&lt;/strong&gt; - Mortgage Agent Level 2&lt;/p&gt;&lt;p&gt;Referral Mortgages&lt;/p&gt;&lt;p&gt;Email: &lt;a href="mailto:david@referralmortgages.com" rel="noopener noreferrer" target="_blank"&gt;david@referralmortgages.com&lt;/a&gt;&lt;/p&gt;&lt;p&gt;Phone: 1-613-686-6003&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.referralmortgages.com" rel="noopener noreferrer" target="_blank"&gt;https://www.referralmortgages.com&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Shaun Cathcart&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Senior Economist - CREA&lt;/p&gt;&lt;p&gt;&lt;a href="http://www.crea.ca" rel="noopener noreferrer" target="_blank"&gt;www.crea.ca&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;If you have a question or topic you'd like to hear us discuss send us an email at: theottawarealestatepodcast@gmail.com or leave us a comment below!&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;New Episodes of the podcast are available on Wednesdays at 10AM on all podcast services and at &lt;a href="https://www.theottawarealestatepodcast.com/" rel="noopener noreferrer" target="_blank"&gt;www.theottawarealestatepodcast.com &lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;Brought to you by &lt;a href="https://www.referralmortgages.com/" rel="noopener noreferrer" target="_blank"&gt;Referral Mortgages&lt;/a&gt;, &lt;a href="https://paulstevenson.ca/" rel="noopener noreferrer" target="_blank"&gt;PaulStevenson.ca&lt;/a&gt;, &lt;a href="https://guertinpoirierlaw.ca/" rel="noopener noreferrer" target="_blank"&gt;Guertin/Poirier Avocates Lawyers&lt;/a&gt;, &lt;a href="https://www.centum.ca/" rel="noopener noreferrer" target="_blank"&gt;CENTUM&lt;/a&gt;, &lt;a href="https://www.thebig.ca/" rel="noopener noreferrer" target="_blank"&gt;BIG - Billyard Insurance Group&lt;/a&gt;, &lt;a href="https://www.easyneonsigns.ca/" rel="noopener noreferrer" target="_blank"&gt;Easy Neon Signs&lt;/a&gt; and &lt;a href="https://www.atozcleaningexpert.com" rel="noopener noreferrer" target="_blank"&gt;A to Z Cleaning Expert.&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.easyneonsigns.ca" rel="noopener noreferrer" target="_blank"&gt;https://www.easyneonsigns.ca&lt;/a&gt; Use code TOREP and get 20% off all your orders. (This is an affiliate link).&lt;/p&gt;</description>

The Ottawa Real Estate Podcast

TOREP

First-Time Buyers Have Waited Years for This Market: Here's What Actually Happened

MAR 25, 202648 MIN
The Ottawa Real Estate Podcast

First-Time Buyers Have Waited Years for This Market: Here's What Actually Happened

MAR 25, 202648 MIN

Description

First time buyers in Canada have been told to wait, save more, and be patient for years now, and the market has not rewarded that patience. In this episode we sit down with Shaun Cathcart, Senior Economist at the Canadian Real Estate Association, and we get into what the actual data says about where the Canadian real estate market stands right now, how mortgage rate swings and global events are reshaping what buyers can realistically afford, and whether the long awaited recovery is something buyers can actually count on or just another headline that fades. Shaun also breaks down the housing supply problem in a way that makes clear why building more homes is not as simple as politicians make it sound.If you are a first time buyer in Ottawa or anywhere in Ontario trying to figure out whether now is the time to move, this conversation gives you the clearest picture available right now from someone who works with the data every single day.00:00 Intro02:52 Market Uncertainty and Economic Factors05:32 The Impact of Rising Mortgage Rates08:56 First-Time Buyers and Market Dynamics11:11 The Missing Middle in Housing Development16:19 The Role of Purpose-Built Rentals22:40 Future Predictions for the Condo Market26:14 Reallocating Housing Resources28:41 Land Transfer Tax Credits for Downsizing33:09 Job Market Dynamics in Ottawa40:10 Spring Market Trends and PredictionsGet in touch with us!Paul Stevenson - Mortgage Agent Level 2CENTUM Financial Services LPEmail: [email protected]: 1-613-263-4543https://www.paulstevenson.caDavid Warren - Mortgage Agent Level 2Referral MortgagesEmail: [email protected]: 1-613-686-6003https://www.referralmortgages.comShaun CathcartSenior Economist - CREAwww.crea.caIf you have a question or topic you'd like to hear us discuss send us an email at: [email protected] or leave us a comment below!New Episodes of the podcast are available on Wednesdays at 10AM on all podcast services and at www.theottawarealestatepodcast.com Brought to you by Referral Mortgages, PaulStevenson.ca, Guertin/Poirier Avocates Lawyers, CENTUM, BIG - Billyard Insurance Group, Easy Neon Signs and A to Z Cleaning Expert.https://www.easyneonsigns.ca Use code TOREP and get 20% off all your orders. (This is an affiliate link).