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Here is the latest scoop on Canadian Real Estate Market news! 
When big shifts happen in the U.S., Canada often feels the ripple effects. With Donald Trump expected to start his second term, it’s important to think about how his policies could impact everything from trade to our daily expenses. Here’s a look at what experts are predicting. 
Trade and Tariffs
Canada and the U.S. are major trading buddies, exchanging more than $3.6 billion every day! But if Trump moves forward with hefty tariffs or other trade changes, it could be tough news for Canadian businesses. 
One of Trump’s campaign promises was a 10% tax on all imported goods, which could disrupt Canada’s economy, especially since so much of what we make heads south.
Not all hope is lost, though! During his previous term, there were big worries about trade deals being axed, but things ended up more balanced. Economists say some of his tariff threats might end up being toned down through negotiations. So, there’s a chance we could dodge the worst-case scenario. 
The Cost of Everyday Living
Lower oil prices sound like a win for your gas budget, but if tariffs go up, the cost of everyday products could jump. Inflation might also become a concern, making life pricier overall. Some experts suggest that if trade barriers go up and the U.S. economy slows down, Canada’s economy could shrink by 1.7% over the next few years. Add in the risk of interest rates climbing, and the outlook becomes a bit uncertain.
What About the Stock Market?
Markets tend to react fast to political changes, and Trump’s promises of tax cuts and deregulation could excite investors. But any gains might be fragile. Economists warn that more protectionist policies in the U.S. could cloud the global economic outlook. Some industries might see benefits, like fossil fuels, while others, like renewable energy, could face setbacks. 
Mortgage Rates in Canada
Canadian mortgage rates are closely tied to what happens in the U.S., and Trump’s fiscal strategies might push U.S. bond yields higher. If that happens, Canadian mortgage rates could rise too. 
It’s a tricky situation to watch, as no one knows exactly which economic shifts will become reality. Some analysts are cautiously waiting to see how tariffs, interest rates, and inflation all play out before making predictions.
The Impact on Canadian Real Estate
If things get unpredictable in the U.S., it might actually spark more interest in Canadian real estate. 
Some Americans could start eyeing Canadian homes, and we’ve already seen an uptick in web searches for properties in popular cities. If more Americans decide to move here, it could increase demand and potentially push home prices higher in hotspots.
On the flip side, a weaker Canadian dollar could be attractive to American buyers, making our real estate market more enticing. But challenges remain for Canadian developers, as construction here is pricier and takes longer compared to our neighbors down south.
Snowbirds and U.S. Vacation Homes
Canadians who own properties in sunny U.S. spots like Florida might feel the pinch if the Canadian dollar weakens. Keeping up with property costs could become more challenging. 
Plus, if trade policies create uncertainty, investing in U.S. real estate might not be as appealing. Despite these worries, there’s still hope that trade relations will stabilize over time.
Edmonton Real Estate by the Numbers: October 2024 (Updated: Nov 5, 2024) Stats from: wowa.ca
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- Average home price in October 2024: $440,089 (down 0.1% from September but up 11% from last year!)
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- Benchmark prices have climbed 7.7% annually, reaching $403,500.
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- Detached homes: up 13.6% year-over-year to $552,954.
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- Semi-detached homes: up 5.5% year-over-year but dropped 1.5% month-over-month to $407,006.
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- Townhouses: up a huge 19% year-over-year and 5.1% month-over-month to $307,854.
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- Apartments: down 6% year-over-year to $191,413, and fell 4.1% from last month.
Remember, among Canada’s top cities, Edmonton remains one of the most affordable places to call home!
So, while the future is full of question marks, it’s good to keep an eye on these potential shifts. Stay tuned and ready for anything! 
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