Quote:
Originally Posted by Mazrim
For those of you who already own houses, I'm happy for all of you since you'll be making some value on your properties in the next few years at least. For people like me who are scrounging up a down payment for their first home, it's a little depressing to watch houses become even less affordable, potentially in a big hurry if the Toronto and Vancouver situation spill out to other Canadian cities.
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You better buy buy buy!!! J/K I have no idea what's going on.
This has to be the most unpredictable time for real estate since I've been alive. Thing are already so heated in some markets, they can't go up any further? Well they are. Interest rate are at all time low. We could see inflation. What happens post covid? Are increased oil prices here to stay? What about retired boomers? Surely they want to downsize at some point?
It seems like there's just been a lot of people sitting on the sidelines for a while. Now that interest are very low and things are turning around, they are all jumping in. Who knows if this is the new norm or blip before some big crash.