Soaring price of Canadian real estate is turning into a political football

Home prices have been on a tear during the COVID-19 pandemic in The Greater Toronto Area (GTA) and Metro Vancouver, a large cohort of first-time buyers find themselves priced out as a result.

The federal Conservatives are pressing the Liberal government to take action on housing affordability for first-time buyers. Conservative leader Erin O’Toole took it to the Liberals during question period on the effects of the rapid rise in prices as well as a developer buying up a billion dollars worth of properties.

We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.

Also See: The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more at Yahoo Finance Canada.

They weighed in on the politics of Canada’s real estate markets.

If you have questions, email them to and John or Steve will answer them on the next episode.

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.