Rachelle Younglai

In this discussion, Rachelle Younglai, a real estate reporter for The Globe and Mail, unpacks Toronto's condo market, which is facing a 27-year low in sales. She highlights the alarming rise in developer insolvencies and how pre-construction sales are becoming increasingly scarce, potentially driving housing affordability to new lows. Rachelle explores the financial mechanics behind condo developments and the overwhelming challenges posed by rising costs, delays, and an oversupply of properties, raising crucial questions about the future of Canadian housing.

Rachelle Younglai, a housing and real estate reporter for The Globe and Mail, discusses the Canada Mortgage and Housing Corporation's shift in housing affordability benchmarks. She reveals that returning to 2004 affordability levels is impossible due to increased home prices and rent. Younglai highlights the impact of remote work on housing demand, particularly in smaller communities, and explores the contrasting interest in condos versus detached homes. The conversation underscores ongoing challenges in the market, including rising interest rates and construction barriers.

In this discussion, Rachelle Younglai, a real estate reporter for the Globe, examines new mortgage rules aimed at helping first-time Canadian buyers. She explains how changes like lower down payments and longer repayment terms can ease entry into the housing market for younger generations. However, she warns that these benefits may come with increased overall interest costs. The conversation also highlights the potential impact of these rules on rising home prices and overall household debt.