First-Time Buyers Have Waited Years for This Market: Here's What Actually Happened

First-Time Buyers Have Waited Years for This Market: Here's What Actually Happened First time buyers in Canada have been told to wait, save more, and be patient for years now, and the market has not rewarded that patience. In this episode we sit down with Shaun Cathcart, Senior Economist at the Canadian Real Estate Association, and we get into what the actual data says about where the Canadian real estate market stands right now, how mortgage rate swings and global events are reshaping what buyers can realistically afford, and whether the long awaited recovery is something buyers can actually count on or just another headline that fades. Shaun also breaks down the housing supply problem in a way that makes clear why building more homes is not as simple as politicians make it sound. If you are a first time buyer in Ottawa or anywhere in Ontario trying to figure out whether now is the time to move, this conversation gives you the clearest picture available right now from someone who works with the data every single day. 00:00 Intro 02:52 Market Uncertainty and Economic Factors 05:32 The Impact of Rising Mortgage Rates 08:56 First-Time Buyers and Market Dynamics 11:11 The Missing Middle in Housing Development 16:19 The Role of Purpose-Built Rentals 22:40 Future Predictions for the Condo Market 26:14 Reallocating Housing Resources 28:41 Land Transfer Tax Credits for Downsizing 33:09 Job Market Dynamics in Ottawa 40:10 Spring Market Trends and Predictions Don’t Miss Out! Hit LIKE, SUBSCRIBE, and drop a COMMENT with your thoughts on where the market is heading! Get in touch with us! *Paul Stevenson* - Mortgage Agent Level 2 CENTUM Financial Services LP Email: paul@paulstevenson.ca Phone: 1-613-263-4543 https://www.paulstevenson.ca *David Warren* - Mortgage Agent Level 2 Referral Mortgages Email: david@referralmortgages.com Phone: 1-613-686-6003 https://www.referralmortgages.com *Shaun Cathcart* Senior Economist - CREA www.crea.ca If you have a question or topic you'd like to hear us discuss send us an email at: theottawarealestatepodcast@gmail.com or leave us a comment below! New Episodes of the podcast are available on Wednesdays at 10AM on all podcast services and at www.theottawarealestatepodcast.com Brought to you by Referral Mortgages, PaulStevenson.ca, Guertin/Poirier Avocates Lawyers, CENTUM, BIG - Billyard Insurance Group and Easy Neon Signs Canada. https://www.referralmortgages.com/ https://paulstevenson.ca/ https://guertinpoirierlaw.ca/ https://www.centum.ca/ https://www.thebig.ca/ https://www.atozcleaningexpert.com  https://www.easyneonsigns.ca Use code TOREP and get 20% off all your orders. (This is an affiliate link).