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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...
A lot of chatter about rate hikes in 2022, the narrative seems to change week to week, however let’s assume rates will not stay this low forever. The common and logical line of thinking is that when banks raise their prime rate homeowners with variable rate mortgages will see their monthly payments increase based on the increase in prime rate. What happens to the monthly payment varies on which...