We've seen a lot of changes in the Hamilton housing market over the last few years. The impact of the pandemic-induced low interest rates pushed demand through the roof. Now, a near tripling of mortgage rates has contributed to falling home prices.
All in Homebuying
Canadian Boomers are Quitting the Workforce
As far back as 2008, CNN reported on the expected effects of Baby Boomers (the largest generational cohort) retiring from the workforce. The pandemic has accelerated the process.
Confidence in Real Estate Shattered
Canadian consumer confidence is negative and has not started to improve yet.
U.S. Fed poised to raise rates in 2022
Higher U.S. interest rates will pressure Canada to match or devalue the Canadian dollar
Airbnb Empires Postponed
Tourism was recovering a little, but Omicron has scuppered any ambitious plans.
From Euphoria to Normal
Canadian Confidence is Trending Lower
Interest Rates are Rising
Interest rates are rising and it will put downward pressure on home values.
