The entire world is going into a recession. The real estate market will take a dip because a lot investors have mixed obligations and the stock market dip will affect them. Unemployment could go up 3-5% which lowers demand further. I expect housing correction of more then 10% by years end. There’s no way the TSX goes down 20% and home prices go up.
The resilience of Toronto’s real estate market is nothing short of spectacular. Hard to imagine it not taking a hit after the virus but it wouldn’t be a bad thing either.
Nothing spectacular about it. The low interest rates and a steady stream of immigration (foreign and domestic) into the city fuels the need for housing.
Does covid spread more easily in a building.
You forgot investors who own up to 50% of all condosWhen you realize that almost every family you know has a condo or two as investment (I'm speaking about myself here but am sure that it applies to many) you know there is a problem. They can hold on to it with their savings and what not for maybe 2-3 months but if tenants leave, their businesses churn it can get really ugly. But it won't happen if the thing is over it 1-2 months.
It's not airborne so the only reason would be so many people living in close proximity. If it was airborne it would be a whole different story as the ventilation is shared throughout most condos.
How did this work out for you?The entire world is going into a recession. The real estate market will take a dip because a lot investors have mixed obligations and the stock market dip will affect them. Unemployment could go up 3-5% which lowers demand further. I expect housing correction of more then 10% by years end. There’s no way the TSX goes down 20% and home prices go up.