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For every 1% increase in interest, real estate prices drop by 10% Here is how I see this playing out in the GTA. While a rate hike next week is unlikely to change market sentiment (if it happens), line of sight on hikes to follow can as the problem will compound the longer this is delayed. If new listings continue to lag as we are in real estate gridlock due to affordability, even with a rate...
Real Estate is in gridlock. Here is why: One of my favourite metrics of the Real Estate market is the active resale listings. I like this visual for the simple yet very easy to understand metric relative to history. We are looking at record low active listings in a city that has seen massive population growth over the last decade. In other words, if we considered population growth/home...
Here is a real estate prediction worth listening to. My friend Jordon Scrinko of Precondo is one of the great resources in the space who provides solid and objective analysis of the condo space. Back in December of 2020 when we were in the thick of lockdowns, the condo market was at an all time low and no one was buying except a few brave souls. Jordon made a very contradictory prediction...