COVID-19 pandemic.Real estate agents say after months of end users driving sales, investors are again a factor in the market and flipping activity is picking up.
In response, desperate buyers are over-extending themselves, paying tens of thousands more than originally budgeted just to get in.While Bank of Canada Governor Tiff Macklem in February acknowledged “some signs of excess exuberance” in the housing market, he downplayed the need for action.
Canada’s housing market showing ‘early signs’ of overheating, Bank of Canada warns “Right now the economy is weak, we’re just coming out of the second wave.
I think we need the support, we need the growth we can get,” Macklem said.The pandemic shift to working from home coupled with rock-bottom.