r/canadahousing

Disregarding where you currently work, or where your family currently reside, which cities present the "easy button" for balancing employment opportunities, housing affordability and overall quality of life today in Canada?

Basically looking for those hidden gems that no one ever wants to mention on Reddit. The communities that exist outside of of the big 8 (Montreal, Ottawa, Toronto, Winnipeg, Calgary, Edmonton, Vancouver & Victoria). Some factors to consider:

1. Employment Prospects
2. Affordable Housing (under $600,000)
3. Traffic & Congestion
4. Access to Nature
5. Post Secondary Institutions
6. Healthcare
7. Arts & Culture

Are these found in secondary or tertiary cities that are located within 1-2 hours drive of one of the above? or are they more remote communities that are unaffected by the housing prices of the larger centers?

I'm curious to hear your experiences if you already live in one of these communities or if you have one in mind that meets the criteria that you would consider moving to.

The provincial establishment in B.C is out here promising "liquidation pricing" for new condos, but Eby is remarkably short on details.

He’s comparing this to a fire sale, but consider this: during the major condo crash in Miami (a city with a much more diversified economy those targeted cities in B.C) prices plummeted by 43%. If this isn't just a taxpayer-funded bailout for developers, are we actually going to see those kinds of price cuts in B.C.? Or is "liquidation" just a buzzword to sell a plan that doesn't actually pencil out?

Seems like selective outrage to me. One is a $300M program, the other is a 10B+ program that’s done nothing but redirect profits to developers.

Hey everyone, I’m trying to understand the real day-to-day problems Canadian landlords deal with.

I’m not selling anything, and I’m not pitching software right now. I’m genuinely trying to figure out what the biggest recurring pain points are, especially the ones that actually waste time, money, or energy.

For landlords here in Canada:

• What’s the most frustrating part of managing a rental?
• What problem comes up often enough that you wish it was easier?
• What do you still have to do manually that feels outdated or annoying?
• Is there one thing you’d genuinely want solved if it was simple and affordable?
• What’s a problem you see over and over again, but never seems to get handled well?

Could be tenant communication, rent collection, maintenance, screening, paperwork, inspections, records, legal stuff, or something else entirely.

I’d especially love to hear from smaller landlords or people managing a few properties, since I assume their problems are a bit different from big property managers.

If you’re willing, feel free to reply with just one pain point and a quick example. That would help a lot.

I, a 26 y/o female living in central Alberta, and my husband are looking to buy a house. My dad owns a plumbing company and is friends with contractors, therefore can get us into a new townhome in a nice area of town for $40k under selling price. He thinks we should buy it and just move in a year and make $50k ish. My husband and I could also afford to buy a house for $375k ish on our own, typically placing us in a detached house from the 70s, well maintained, bigger lot, etc.
I get the appeal of making money, there’s some relational issues with my dad that could make it sticky, but I also don’t like moving and don’t know what the market will do in the next couple years. If housing costs go up $50k anyways, we will still have to buy a house within our small budget again in a year or two.
We have a baby already and want to keep growing our family, the townhome is quite small and would be temporary.
What would you do?
TIA

As prices sink, Toronto condos have returned to 2019 affordability levels, according to a new report from RBC Economics.

“Condo prices in Toronto have fallen faster than most other markets, and that is happening while incomes have continued to rise,” said Rachel Battaglia, an economist with RBC Economics, and co-author of the report. 

Condos in Montreal are now less affordable than ones in Toronto, a “reshuffling” of the markets for the first time in over a decade.

This is good news for buyers waiting on the sidelines. But Battaglia noted, “condo affordability in Toronto is still somewhat stretched and still among the worst of the major markets.”

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How? How would a member of the public bring forth a lawsuit like this?

MPs who are landlords have benefitted financially from the gov's push to keep housing prices high. Landlords cannot vote on housing without personal bias. They stand to personally benefit by voting for their own interests rather than representing their constituents.

Buying a single-family home with a basement that has a separate entrance and a simple interior door. The mortgage will be CMHC-insured, and I’ll live in the home as my principal residence. It will remain a single dwelling unit with the City. Planning occasional short-term rentals (Airbnb) of the basement.

I haven’t gotten an insurance quote yet, but I expect it to be slightly higher than a standard homeowner policy because of the short-term rental use.

Has anyone with a CMHC-insured mortgage hosted short-term guests from a basement — did the lender or insurer object? Any advise?

Thank you.

If you’re on the fence about buying a home right now, seriously consider waiting.

Prices have already started coming down in many areas, and there are still several factors putting downward pressure on the market. Affordability remains one of the biggest issues. Even households with two average incomes often struggle to qualify for or comfortably carry today’s mortgage payments, especially with higher interest rates and rising living costs.

The job market has also become less certain in many sectors, making people more cautious about taking on large amounts of debt. At the same time, recent changes to government policies are expected to slow population compared with the rapid increases seen in previous years. That could reduce the pace of housing demand, particularly in markets that were expecting continued growth.

Another thing to consider is supply. During the housing boom, developers launched a large number of projects, and many homes have already been completed or are still under construction. In some neighbourhoods, you’ll also find vacant homes and investor-owned properties. If demand softens while supply continues to increase, prices could remain under pressure.

I’d be especially cautious about pre-construction purchases. If resale homes are already declining in value, paying today’s pre-construction prices could mean taking on additional risk, especially if market conditions change before the project is completed.
No one can predict the market with certainty, but rushing into one of the biggest financial decisions of your life because of FOMO rarely ends well. Buy when the numbers make sense for your income and long-term plans—not because someone tells you prices can only go up.

What do you think? Are we still in the early stages of a correction, or do you think the market has already found its bottom?

Am I the only one looking at the GTA market and wondering who’s still paying $750k for old detached houses that need another $100k–$200k in renovations?

Some of these homes are many years old, with outdated electrical, plumbing, roofs, windows, and insulation, yet they’re still listed like they’re luxury properties. In my opinion, many of these houses would be worth closer to $350k based on their actual condition—not the land value or years of market hype.

With higher interest rates, affordability issues, and more inventory coming onto the market, it feels like prices still haven’t fully adjusted to reality. I think buyers who aren’t in a rush should stay patient. Markets move in cycles, and it wouldn’t surprise me if detached homes continue trending down before finding a true floor.

Curious what everyone else thinks. Are we still in a pricing bubble, or do you believe these valuations are justified?

Hello All,

My first ever post on reddit. I chose to post about this, because I was tired of reading posts which either became political OR didn’t have all the pros and cons. I am Apolitical and try to follow a logical approach with any policy that Government comes up with.

My perspective on the BC Condo bailout is based on my own personal situation. If I have to bear the high interest (fixed) and keep paying the mortgage along with high strata fees and increased property taxes, in the name of “risk” I took to own where I live, why shouldn’t a corporation? If they really wish to avoid an economic failure, why not lower the interest rates and make the condos affordable for everyone?

What am I missing? Would love to hear your unbiased opinion.

Regardless of personal political views, Pierre Poilievre has become the first major federal leader to explicitly state that restoring housing affordability requires a market price correction. By opposing a government plan to buy unsold properties, which he argues acts as a "condo bailout" that sustains artificially high developer prices—he is effectively pushing for the market to drop.

For those priced out of the market, a federal leader openly advocating for lower prices rather than government intervention is a significant policy shift and a breakthrough for affordability advocates. We need MPs from across the political spectrum to start saying the quiet part out loud: the only way to meaningfully restore housing affordability for this generation is through a decline in home prices.

Popul-ation decline alone won't make enough of an impact, salaries will not catch up with the growth of prices, and we are nowhere near building enough new homes to close the gap. A true price correction is the only path forward.

Just curious as I applied in March I believe and I haven’t heard anything yet, so I’d like to see if anyone else has been contacted or received anything yet :)