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With 36 years in journalism, Rob Carrick is The Globe and Mail's personal finance and housing columnist.
Please submit your questions for his upcoming AMA (will occur at 1 PM EST on August 23rd).
Introduction from Rob -
Canada’s housing market during the COVID-19 pandemic seemed to know no limits, and bidding wars, paying over the ask price and unconditional offers were commonplace. Since the Bank of Canada began jacking up rates in March, the housing market has tanked: Sales volumes have plummeted, and the average home price is down 18.5 per cent from February to June (according to Canadian Real Estate Association data).
What we once believed to be true about the housing market -- mortgages are a noble debt, and HELOCs are a worthwhile way to pay for renovations -- has changed. AMA about Canada's housing market, managing housing debt, participating in the housing market and anything else relating to Canadian housing.
ANSWERS BEGIN at 1 PM.
What can be done by the government to help first-time house buyers be able to actually get a house? We're worried enough about rocketing rent prices cutting into potential savings, and we're tired of people saying to cut down on additional spending. We're not doing anything, we barely even have date nights out, or any extracurricular activities because of this insane inflation cutting into our livelihood
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