Fewer home buyers - MoneySense

Fewer home buyers

More Canadians intend to sit on the real estate sidelines, according to RBC.

  • Just 15% of Canadians polled by Ipsos Reid for RBC say they are likely to buy a home in the next two years. That’s down from 27% last year and the biggest drop ever recorded suggesting Canadians are taking a wait-and-see approach to real estate investment amid market forecasts for a housing correction. Roughly 40% of wannabe buyers are first-time shoppers, the bank found. What’s keeping Canadians on the sidelines? A mix of factors including the possibility of lower prices in the months ahead, tighter mortgage lending rules and little threat of rising interest rates.
  • Canadians can now pay income tax owing to the Canada Revenue Agency via the credit card of their choice thanks to a new partnership between the CRA and Plastiq Inc. Paying your CRA bill by credit card however will cost you 2% per transaction so cash or cheque remain better options for Canadians with the money in the bank. For more information on how to make a payment, visit the CRA’s website. Taxes owed to the government are due by April 30.