{"id":12347,"date":"2019-04-28T10:10:48","date_gmt":"2019-04-28T17:10:48","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12347"},"modified":"2019-04-26T17:41:56","modified_gmt":"2019-04-27T00:41:56","slug":"mortgage-stress-test-has-caused-near-recession-housing-demand","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/","title":{"rendered":"Mortgage Stress Test Has Caused “Near Recession” Housing Demand"},"content":{"rendered":"

The impact of the mortgage stress test continues to be shown in home sales in British Columbia.<\/p>\n

British Columbia Real Estate Association says there were 5,707 sales through the MLS in March, down 23% year-over-year, while the average price was down 5.4% to $687,720.<\/p>\n

\u201cBC home sales continue to be adversely impacted by federal mortgage policy,\u201d said BCREA Chief Economist Cameron Muir. \u201cThe erosion of affordability caused by the B20 stress test has created near recession level housing demand despite the province boasting the lowest unemployment rates in a decade.\u201d<\/p>\n

Total sales dollar volume was $3.9 billion, a 27.1% decline from the same month last year.<\/p>\n

Listings increased 36.2% to 34,295 units from a year earlier and the ratio of sales to active residential listings declined from 29.4% to 16.6%.
\n\"\"<\/a>
\n\u201cThe sharp erosion of affordability caused by the B20 stress test is now creating pent-up demand, as many would-be home buyers are forced to wait on the sidelines,\u201d added Muir. \u201cUnfortunately, new home construction is slowing as well, which will likely lead to another housing supply crunch down the road.\u201d<\/p>\n

Mortgage Stress Test Has Caused “Near Recession” Housing Demand<\/a> by Steve Randall | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"

The impact of the mortgage stress test continues to be shown in home sales in British Columbia. British Columbia Real Estate Association says there were 5,707 sales through the MLS … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-12347","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nMortgage Stress Test Has Caused "Near Recession" Housing Demand • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Mortgage Stress Test Has Caused "Near Recession" Housing Demand • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The impact of the mortgage stress test continues to be shown in home sales in British Columbia. British Columbia Real Estate Association says there were 5,707 sales through the MLS … [read more]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BCREA-chart.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Mortgage Stress Test Has Caused “Near Recession” Housing Demand\",\"datePublished\":\"2019-04-28T17:10:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/\"},\"wordCount\":195,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"image\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/BCREA-chart-288x162.jpg\",\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/\",\"name\":\"Mortgage Stress Test Has Caused \\\"Near Recession\\\" Housing Demand • Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/BCREA-chart-288x162.jpg\",\"datePublished\":\"2019-04-28T17:10:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/BCREA-chart.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/BCREA-chart.jpg\",\"width\":800,\"height\":450},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/mortgage-stress-test-has-caused-near-recession-housing-demand\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Stress Test Has Caused “Near Recession” Housing Demand\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling & Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mortgage Stress Test Has Caused \"Near Recession\" Housing Demand • Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/","twitter_card":"summary_large_image","twitter_title":"Mortgage Stress Test Has Caused \"Near Recession\" Housing Demand • Rory C Real Estate | Oakwyn Realty","twitter_description":"The impact of the mortgage stress test continues to be shown in home sales in British Columbia. British Columbia Real Estate Association says there were 5,707 sales through the MLS … [read more]","twitter_image":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BCREA-chart.jpg","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Mortgage Stress Test Has Caused “Near Recession” Housing Demand","datePublished":"2019-04-28T17:10:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/"},"wordCount":195,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"image":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#primaryimage"},"thumbnailUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BCREA-chart-288x162.jpg","articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/","name":"Mortgage Stress Test Has Caused \"Near Recession\" Housing Demand • Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#primaryimage"},"image":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#primaryimage"},"thumbnailUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BCREA-chart-288x162.jpg","datePublished":"2019-04-28T17:10:48+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#primaryimage","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BCREA-chart.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BCREA-chart.jpg","width":800,"height":450},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/04\/mortgage-stress-test-has-caused-near-recession-housing-demand\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Mortgage Stress Test Has Caused “Near Recession” Housing Demand"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling & Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=12347"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12347\/revisions"}],"predecessor-version":[{"id":12349,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12347\/revisions\/12349"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=12347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=12347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=12347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}