the canadian population hit the 40 million mark

june 30, 2023

The Canadian population hit the 40-million-mark last week and the Real Estate crash many were expectING has so far this year has been avoided.

Economists predict that Canada will need 3.5 million additional housing units by 2030 to restore affordability.

While the housing growth has not kept pace, the high interest rates have had an unexpected affect on Real Estate. New listings across the Country have been falling; reducing the supply

It has been said that the high mortgage rates have been a deterrent to homeowners’ listing their homes for sale.  This, combined with increased demand, has driven prices higher, which of course has worsened affordability.

This doesn’t mean selling in today’s market is easy. Homes that are well priced and well marketed are selling successfully.

Being in the industry for as long as I have, I’ve seen it all – the good and the bad. It's not the glitz that gets home sold successfully, but rather smart practices and good advice.  

Mortgage rates stay elevated. If your mortgage is up for renewal, you will likely be surprised by the rates being offered and the increase of the new payment.  In some cases, borrowers could see an increase of up to 80%.

Many economists worry about the impact to borrowers, especially by 2025 when many borrowers will have their mortgage due for renewal from the time they locked into very low rates during covid.

Don’t wait to be shocked. Act now and explore your options by contacting me.  

My name is David Yetman and I am the Broker-Owner of CENTURY 21 All Points in Nova Scotia

You Have Questions….We Have Answers! Ask me your questions any time by calling or texting me at 902-830-3777 or email me at


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