What is the Canadian real estate market like? - It really depends on what kind of housing situation you're looking for, says Michelle Farber Ross, managing partner and broker at Toronto-based MMD Realty. "If you're looking for new construction, for example, expect to pop down a 10% deposit, and 50% through the course of the build," says Ross. "And, you'll be expected to show you have the full 100% to close." Ross adds that Canadian banks have "tightened up" lending for home loan borrowers. "Banks used to lend 90% ten years ago, but the highest amount that is obtainable now is 70%, and they look closely at your income and your ability to pay," she says. Right now, the Canadian real estate market is competitive and the prices are well above the historical means and averages, Ross notes. "Vancouver and Toronto are both over-priced, due to the Chinese and Eastern European money coming in, because they wanted out of China and Eastern Europe. The average per square feet for a house in Vancouver is around $800 -$1000 , and that's in a high-tax environment and less-desirable climate than oceanfront property in Florida and California, which go for $600 per square foot."
"Canadians, on the whole, are pretty baffled that Donald Trump could get elected President," Wright adds.