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By MoneySense Staff on March 26, 2013
Estimated reading time: 1 minute

Fewer home buyers

By MoneySense Staff on March 26, 2013
Estimated reading time: 1 minute

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

This article is 11 years old. Some details may be outdated.

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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.

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