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Thread: real estate..... is it true??

  1. #385
    Quote Originally Posted by angrymime666 View Post
    did a drive through in my old area where I sold my house months ago. there is now more inventory then 4 months ago. prices are still overvalued.
    It's a waiting game right now. People are waiting for the prices to drop further and deeper. On average, homes' prices in GTA have been dropping about 10 - 20 % from a year ago. The trend of price's dropping still continues. So people are just playing the watching game right now without buying much these days...

    If Canada may and will be in economic recession from the Trump's tariffs on various Canadian products and demolishing of NAFTA agreement, then the home's prices will sink much further.
    Last edited by NiceToMeetYou; 08-16-2018 at 12:05 AM.

  2. #386
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    Well Canada will be in recession soon, if it is not already (By definition, recessions can only be announced after they have been going on for some time). The recession will occur not because of the Trump tariffs- although that doesn't help- but just because recessions are a normal part of the business cycle and we are due, or past due, perhaps. Housing prices will fall in a recession as will prices generally. But then so will wages, if it goes on long enough. All this is perfectly normal. High end, large, expensive homes will suffer more than smaller ones, so if you re looking to trade up, hang on a bit.

  3. #387
    Quote Originally Posted by amazing age View Post
    Well Canada will be in recession soon, if it is not already (By definition, recessions can only be announced after they have been going on for some time). The recession will occur not because of the Trump tariffs- although that doesn't help- but just because recessions are a normal part of the business cycle and we are due, or past due, perhaps. Housing prices will fall in a recession as will prices generally. But then so will wages, if it goes on long enough. All this is perfectly normal. High end, large, expensive homes will suffer more than smaller ones, so if you re looking to trade up, hang on a bit.
    soon could be a year or two from now...higher oil prices could lift Canada for a year or more; but a higher rates and further housing price corrections could take its toll too..once again probably not til next year.

  4. #388
    I'm waiting...

    Vancouver housing prices are beginning to decline for all housing types, including condos. I don't see how Toronto gets out of this unscathed. In fact, the slowdown is being felt in worldwide major real estate markets.


    Think of the children -> http://www.numberofabortions.com/
    I want you to point your finger at me. I want you to call me names.

  5. #389
    Quote Originally Posted by wonkyknee View Post
    soon could be a year or two from now...higher oil prices could lift Canada for a year or more; but a higher rates and further housing price corrections could take its toll too..once again probably not til next year.
    higher brent and wti does not mean better prices for canadian oil. The sentiment is better (or was) but canadian production is generally heavily discounted.

    https://oilprice.com/Energy/Crude-Oi...Crude-Oil.html

  6. #390
    Saw an article. Over house prices up 1% from last year.

    My hope is 3% over the next ten years year to year to get to early retirement.

    But I knew it would start slow.
    It is my hope that Bernie Sanders will run as an independent candidate in the 2020 presidential election.

  7. #391
    houses that I have been viewing are still going for multiple offers above ask. nothing insane as 2016 but over ask by 5-10k where I am looking. single detached bungalows with original owners that have never been updated since they were built.

    even a tear down dump in hamilton for 169k will go over ask.

    I think I may forgot about buying a house in southern ontario and go buy out of province and live in another country for 6 months out of the year.

  8. #392
    Quote Originally Posted by angrymime666 View Post
    houses that I have been viewing are still going for multiple offers above ask. nothing insane as 2016 but over ask by 5-10k where I am looking. single detached bungalows with original owners that have never been updated since they were built.
    .
    I'm finding the same thing in my area and the area i'm looking to move to, only the ask has often dropped twice already(both in the 416). I find the RE agents won't do a price drop on the listing but rather cancel and list again as new so buyers don't know the price has been dropped. But when you've been watching for awhile you'll notice the same house listed again and again each time with a lower price but never showing the previous price. The rules in this industry are really archaeic and need some basic regulation to stop duping the consumers.

  9. #393
    Quote Originally Posted by wonkyknee View Post
    I'm finding the same thing in my area and the area i'm looking to move to, only the ask has often dropped twice already(both in the 416). I find the RE agents won't do a price drop on the listing but rather cancel and list again as new so buyers don't know the price has been dropped. But when you've been watching for awhile you'll notice the same house listed again and again each time with a lower price but never showing the previous price. The rules in this industry are really archaeic and need some basic regulation to stop duping the consumers.
    I agree. Laws in the real estate markets in Canada are lacking in transparency. Unlike the laws in the USA in real estate markets, they keep track of the prices' drop to give more protection to consumers. Also, if an agent de-list and re-list a property again in the USA, it continues to count number of days of listing from the original listing instead of resetting to 1 as in Canada. So the agent cannot fool potential buyers. Laws in Canada is more to protect the real estate business owners than consumers.
    Last edited by NiceToMeetYou; 08-20-2018 at 11:44 PM.

  10. #394
    I think in 416 with high transfer taxes, buying and selling is dampened. Until employment starts to decline, I don't see much risk of rapid depreciation. But of course with rising rates I do not see rapid rises in price either.

  11. #395
    Quote Originally Posted by NiceToMeetYou View Post
    I agree. Laws in the real estate markets in Canada are lacking in transparency. Unlike the laws in the USA in real estate markets, they keep track of the prices' drop to give more protection to consumers. Also, if an agent de-list and re-list a property again in the USA, it continues to count number of days of listing from the original listing instead of resetting to 1 as in Canada. So the agent cannot fool potential buyers. Laws in Canada is more to protect the real estate business owners than consumers.
    Some very good news today. The Toronto Real Estate Board's (TREB) appeal to keep Sold Data private has been rejected by the supreme court, so now home sold data can be made public by realtors. Expect lots more sites to pop up with this data moving forward.

    TREB are scumbags for launching the lawsuit and keeping it going for years to hide information that is made readily available in markets such as the U.S.
    Last edited by Smallcock; 08-24-2018 at 01:36 PM.


    Think of the children -> http://www.numberofabortions.com/
    I want you to point your finger at me. I want you to call me names.

  12. #396
    Prices will not drop. Canada will not go through a real estate bubble. The banks are far too strict with the loans

  13. #397
    I found this recent article

    Ocotber 3, 2018 -- Toronto Real Estate Board President announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB's MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year.

    New listings entered into TREB's MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs.

    So my thoughts are that..
    The lower supply and higher demand , with low interest rates for now will continue to drive prices up in the GTA.
    Interest rates will have to increase a fair bit to see prices drop . Prices drop when there is more supply than demand
    and homes sit on the market too long then you start to see more price reductions . The higher end homes take a bigger hit
    but look at the condo market still booming and the rental market is insane in the GTA another indication of short affordable supply.
    fy2d

  14. #398
    Quote Originally Posted by knight12341 View Post
    Prices will not drop. Canada will not go through a real estate bubble. The banks are far too strict with the loans
    Cycles are unavoidable.

    Vancouver detached is down 20% YOY in some areas, and Months-of-Inventory is up to 15 months. 111 sold last month - the lowest in 28 years.

    Toronto is still holding but I think it will turn a corner as rates rise. Recessions have resulted most often when rates begin to rise historically. The amount of debt out there is crazy.


    Think of the children -> http://www.numberofabortions.com/
    I want you to point your finger at me. I want you to call me names.

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