Why did Canadian home prices go up during the pandemic, especially when immigration basically went to zero? (Canada only met our target of 400,000 immigrants for 2021 by counting people who were already here.) When Covid hit, spending on gas, shopping, restaurants, and travel plunged, and household savings went way up. A lot of people who could work from home and still had their jobs suddenly had a lot more money to invest, and some of that money went into real estate.
Pandemic savings
Pandemic savings
Pandemic savings
Why did Canadian home prices go up during the pandemic, especially when immigration basically went to zero? (Canada only met our target of 400,000 immigrants for 2021 by counting people who were already here.) When Covid hit, spending on gas, shopping, restaurants, and travel plunged, and household savings went way up. A lot of people who could work from home and still had their jobs suddenly had a lot more money to invest, and some of that money went into real estate.