In this episode I discuss the real estate market's revival in late 2024 due to lower interest rates, revised mortgage rules, and increased buyer demand, with a focus on townhomes and the expected focus on housing supply and affordability in the upcoming spring 2025 federal election. I also touch on the upcoming Bank of Canada's policy announcement on January 29th, the implications of tariffs, and the factors influencing house prices. The conversation ends with a mention of Sherry Cooper's prediction of a 25 basis point rate cut to 3.0%.
Ciao! Welcome to a new episode of Building Wealth Through Real Estate...Brick by Brick with me, Nico James-Bock, Founder of The CondoWiz™ Group and Broker at Royal LePage Signature Realty in Downtown Toronto.
Highlights & Takeaways
• Bank of Canada to announce interest rate decision on January 29th, 2025.
• Federal Reserve (US) to announce interest rate policy on January 29th, 2025.
• Canadian government to monitor and respond to potential 25% tariffs on Canada by the US, set to take effect on February 1st, 2025.
• Canadian government to continue addressing housing supply and affordability issues in preparation for the likely spring 2025 Federal election.
• Bank of Canada to prioritize recession risks over inflation control if US tariffs are implemented.
• Canadian border authorities to maintain tightened border measures in response to Fentanyl export claims.
• Real estate professionals to monitor the impact of recent mortgage policy revisions on buyer behavior and market trends.
Ciao ciao
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