{"id":965,"date":"2022-09-12T01:09:20","date_gmt":"2022-09-12T01:09:20","guid":{"rendered":"https:\/\/www.realestateleads.ca\/blog\/?p=965"},"modified":"2023-09-25T22:00:49","modified_gmt":"2023-09-25T22:00:49","slug":"cdn-real-estate-holdings-now-down-by-322-billion-in-canada","status":"publish","type":"post","link":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/","title":{"rendered":"CDN Real Estate Holdings Now Down By $322 Billion in Canada"},"content":{"rendered":"
<\/div>\r\n
\r\n
\"\"<\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

Staggering numbers are just that, staggering numbers and surely you\u2019ll all agree that 322 billion is a staggering number. Where that number comes from is that is the number in dollars by which real estate holdings are down in Canada, and given how much of our country\u2019s GDP is in real estate this is not something that should be seen favourably by anybody. Even those who are keen to see lower prices for real estate as a means of their getting into the market.<\/p>\r\n\r\n\r\n\r\n

What is happening here is the conflux of events that are related to the runaway inflation we\u2019re seeing, both in Canada and all around the world. Interest rate hikes are threatening a lot of homeowners now with what it will take for them to be making their monthly mortgage payments, but as most of us will know these rate hikes are entirely essential to combat inflation as best as possible. Is it a lesson for people to not overextend themselves when buying real estate? Even if they did pass a mortgage stress test. Sure, but let\u2019s not look past the fact that by and large this was an unforeseen development.<\/p>\r\n\r\n\r\n\r\n

What happens when values decline in real estate is that the only people who are selling are usually those that need to sell. Yes, there will be exceptions to that but with real estate holdings down by this type of value there is going to be PLENTY of product held off the market when it would be there otherwise. This creates obvious challenges for people working as realtors who would otherwise be more engaged by clients on either end of the buying \/ selling spectrum.<\/p>\r\n\r\n\r\n\r\n

Our online real estate lead generations system here at Real Estate Leads is an excellent way to counter the downturn and still generate new real estate business for yourself. But staying on topic let\u2019s have a look at what is being said about this recently announced drop in real estate holdings value in Canada.<\/p>\r\n\r\n\r\n\r\n

2nd<\/sup> Quarter Plummet Continues<\/strong><\/h3>\r\n\r\n\r\n\r\n

Canadian households saw a decline of almost C$1 trillion ($775 billion) in net worth in the 2nd<\/sup> quarter of this year, and at the forefront of it all were plunging prices for homes and stocks. Further, the 3 months between April and June saw real estate holdings held by households plummet some $419 billion, and at the same time financial assets dropped by $531 billion. All of this and along with the numbers provided here was put out by Statistics Canada.<\/p>\r\n\r\n\r\n\r\n

The next sobering statistic to go along with those is that household net worth dropped 6.1%, working out to about $990 billion. That\u2019s the largest drop ever seen for this metric, and it should be plenty disturbing for anyone and not just those invested in real estate. If you don\u2019t know why that is then you may not have the understanding of global economics that you might like to have. Here\u2019s why.<\/p>\r\n\r\n\r\n\r\n

Higher global interest rates are destroying household wealth in Canada, and providing a major stimulus that promotes Canada\u2019s economy slowing even more than it has already. We currently have the average resale price of a home having gone down by 10.5% from the 1st quarter of this year. Again, when we consider the truth of what real estate means to our GDP, that\u2019s not good for anybody.<\/p>\r\n\r\n\r\n\r\n

Income Growth Lags<\/strong><\/h3>\r\n\r\n\r\n\r\n

What economists foresee here is a drag on net worth from housing that is likely to persist into next year, with Canadian home prices continuing to fall and borrowing costs likely to go up further. It isn\u2019t difficult to foresee all of this with the fact that the BoC has increased its policy interest rate by three-quarters of a percentage point to 3.25% recently, and they will almost certainly be doing it again next month and adding another half point. The rate was holding at an emergency low of 0.25% until March.<\/p>\r\n\r\n\r\n\r\n

If there\u2019s any good news in all of this it is that households remain much better off than they were before COVID, and a cumulative net worth that is $2.9 trillion higher than what was the case for the end 2019 attests to that. The value of residential real estate held by households has increased $2.3 trillion over that period too.<\/p>\r\n\r\n\r\n\r\n

Last but not least, the household credit market debt as a proportion of disposable income increased to 181.7%, from 179.7% for Jan-March of this year.<\/p>\r\n\r\n\r\n\r\n

__<\/p>\r\n\r\n\r\n\r\n

Sign up for Real Estate Leads here<\/a> and receive a monthly quota of qualified, online-generated buyer and \/ or seller leads<\/a> that fast-track you to being first in touch with real prospective clients who have shown their genuine intention to either buy or sell a home. And not just any home, these leads will be for prospective clients looking to buy or sell a home in the same city or town in Canada where you are working as a realtor and looking to grow your business. Check out these testimonials<\/a> to see how highly recommended this online resource for realtors is.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Staggering numbers are just that, staggering numbers and surely you\u2019ll all agree that 322 billion is a staggering number. Where that number comes from is that is the number in dollars by which real estate holdings are down in Canada, and given how much of our country\u2019s GDP is in real estate this is not […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-965","post","type-post","status-publish","format-standard","hentry","category-general-topics"],"yoast_head":"\nCDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog<\/title>\n<meta name=\"description\" content=\"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog\" \/>\n<meta property=\"og:description\" content=\"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Leads Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-12T01:09:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-25T22:00:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png\" \/>\n<meta name=\"author\" content=\"Real Estate Leads\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Real Estate Leads\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/\",\"url\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/\",\"name\":\"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png\",\"datePublished\":\"2022-09-12T01:09:20+00:00\",\"dateModified\":\"2023-09-25T22:00:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86\"},\"description\":\"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog\",\"breadcrumb\":{\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#primaryimage\",\"url\":\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png\",\"contentUrl\":\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.realestateleads.ca\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CDN Real Estate Holdings Now Down By $322 Billion in Canada\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#website\",\"url\":\"https:\/\/www.realestateleads.ca\/blog\/\",\"name\":\"Real Estate Leads Blog\",\"description\":\"Welcome to RealtorLeads Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.realestateleads.ca\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86\",\"name\":\"Real Estate Leads\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g\",\"caption\":\"Real Estate Leads\"},\"url\":\"https:\/\/www.realestateleads.ca\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog","description":"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/","og_locale":"en_US","og_type":"article","og_title":"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog","og_description":"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog","og_url":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/","og_site_name":"Real Estate Leads Blog","article_published_time":"2022-09-12T01:09:20+00:00","article_modified_time":"2023-09-25T22:00:49+00:00","og_image":[{"url":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png"}],"author":"Real Estate Leads","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Real Estate Leads","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/","url":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/","name":"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog","isPartOf":{"@id":"https:\/\/www.realestateleads.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#primaryimage"},"image":{"@id":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png","datePublished":"2022-09-12T01:09:20+00:00","dateModified":"2023-09-25T22:00:49+00:00","author":{"@id":"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86"},"description":"CDN Real Estate Holdings Now Down By $322 Billion in Canada - Real Estate Leads Blog","breadcrumb":{"@id":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#primaryimage","url":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png","contentUrl":"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2018\/05\/AdobeStock_104716085.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.realestateleads.ca\/blog\/cdn-real-estate-holdings-now-down-by-322-billion-in-canada\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.realestateleads.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"CDN Real Estate Holdings Now Down By $322 Billion in Canada"}]},{"@type":"WebSite","@id":"https:\/\/www.realestateleads.ca\/blog\/#website","url":"https:\/\/www.realestateleads.ca\/blog\/","name":"Real Estate Leads Blog","description":"Welcome to RealtorLeads Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.realestateleads.ca\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/413386b258baa1b3e7d5709228082e86","name":"Real Estate Leads","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realestateleads.ca\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4801655c68dae8c9486a6bdf5e4c6505?s=96&d=mm&r=g","caption":"Real Estate Leads"},"url":"https:\/\/www.realestateleads.ca\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/posts\/965"}],"collection":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/comments?post=965"}],"version-history":[{"count":0,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/posts\/965\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/media?parent=965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/categories?post=965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realestateleads.ca\/blog\/wp-json\/wp\/v2\/tags?post=965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}