Balancing opportunity and caution: Is now the right time to buy real estate in Canada? Redditors weigh in

Waiting it out: “I just can’t justify the trade”

For some, the math simply doesn’t work right now.

“I just can’t justify trading my $2,000/month rent for a $4,000/month mortgage,” wrote u/Hello_itsme-. “I do want to enter the market, but I want to be financially responsible about it. Meanwhile, I’m putting the extra $2K in investments.”

This sentiment is grounded in reality. According to RBC’s latest Housing Affordability Report, it now takes 60% of a household’s income to carry a mortgage on an average home, near record highs. Even with prices softening in places like Toronto and Vancouver, affordability hasn’t significantly improved because higher borrowing costs are offsetting price declines.

But not everyone sees renting as the better deal. u/kguenett countered that “a significant portion on that $4K goes into an asset that probably appreciates similar to stocks.” It’s a classic rent-vs-buy debate — one that depends on time horizon, risk tolerance and location.

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“Prices won’t drop much more” vs. “brace for separation sales”

Some Redditors believe the floor has been reached. “Prices are not going to drop any more than they already have because no one is willing to take that much of a negative on their house,” argued u/WeHateArsenal.

But that’s not what everyone is seeing on the ground. Especially in Ontario, cracks are forming.

“Speaking for Ontario, I’m seeing LOTS of big losses here from people who bought at peak,” said u/Beginning_Paint7966. “Most will avoid if they can, but don’t forget about divorces, deaths, job loss, interest rate hikes… these situations cause more desperation.”

Their point? Sellers don’t always have the luxury of waiting. “Of course every seller wants top dollar, but if they can’t wait years to sell, and fewer buyers are willing to pay top dollar — then SOME sellers will accept a lower price,” they added. “And over time, that keeps decreasing comps.”

Indeed, the Canadian Real Estate Association (CREA) recently reported that national home sales were down 19% year-over-year in April, while active listings climbed 35%. When more inventory chases fewer buyers, prices often follow.

The danger of timing the market and missing the boat

Yet there’s a deep countercurrent of wisdom urging buyers not to try and outsmart the market.

“Every one of those buyers that was going to wait is now kicking themselves,” shared u/LadyDegenhardt, a real estate agent from Alberta. “They’d be sitting on $50K to $100K in equity today if they had bought.”

Her advice? “The right time to buy a house is when you are financially capable of doing so and want to move. Time in the market always beats timing the market.”

This is echoed by u/SavageTaco, who shared a cautionary tale: “I thought the same thing. Waited 4 years. Paid $100K more than I would have if I bought originally.”

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Sentiment is shifting but so are the fundamentals

Redditor u/Tricky_Perception389 sees today’s market for what it is: a reckoning point. “Sentiment is truly bad in core areas like GVA and GTA,” they wrote. “Condos are showing the cracks first, but it’ll spill over. I still think there’s more downside coming.”

Their logic is grounded in macro forces. Household debt-to-income ratios remain among the highest in the OECD, and OSFI — Canada’s financial regulator — recently flagged mortgage renewals as a key systemic risk. Meanwhile, immigration and housing supply policies continue to add pressure and unpredictability.

Still, u/Tricky_Perception389 isn’t advising paralysis — they’re advising preparation. “If housing continues to slide a bit into more affordable territory… be ready. There’s a lot of sidelined people waiting with big cash savings.”

Know your ‘why’

The conversation on Reddit captures something deeper than numbers. It’s not just about when to buy, but why.

Is a home a place to live or an asset to maximize? Is the risk of waiting higher than the risk of buying in?

Real estate remains local, personal and emotional. But whatever side of the fence you're on, one thing is clear: If you’re trying to time the Canadian housing market perfectly, you’re not alone, and you’re playing a game that even the experts admit is impossible to win every time.

As u/LadyDegenhardt put it: “Some people, particularly those that frequent Reddit, seem to have forgotten that a primary residence is a home first, and an investment vehicle in a distant second.”

Sources

1. Reddit: r/RealEstateCanada – *Is anyone else holding off buying right now to see how far the market falls?*