Canadians are ,pausing under recent economic pressures, opting to delay making real estate transactions or major purchases due to the interest rate increases seen this year.
According to a survey conducted by software company Dye & Durham, 33% of Canadians have chosen to delay making a real estate transaction or major purchase, with 9% saying they’ve delayed buying a house this year and 10% expecting to delay their home purchase in the next year. Seventeen per cent (17%) also said they don’t expect their home to reach the same value it did prior to the interest rate increases of 2022.
The survey revealed that 53% of respondents believe Canada is about to enter a recession, while 30% think the country is in recession. As a result of recession fears and concerns about the strength of the economy, 57% said they are planning to spend less this holiday season compared to last year. # SANDI HALPERN # REAL ESTATE # SOLD # LEASED # RECESSION
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