What’s on Jill’s mind?
I wrote this Blog on Feb 15, 2016….more than FIVE years ago! about the
5 Reasons why Toronto Homes prices won’t crash! At least for the foreseeable future!
and I thought it would be relevant now in this completely UNHINGED market and now that the new Federal Budget for 2021 has been released. After you “refresh” your memory by clicking on the link to the article, you too, may be shocked by how little progress has been made over the past 5+ years where addressing “Housing Change” is concerned in Toronto!
4 out of the 5 reasons in this article still apply either completely or almost completely…the only one that is a little “suspect” today is #5. The one about there is still “affordable housing available”…
And unfortunately, the new Budget did little (a 1% tax on “UNDERUSED” houses)…what does that even mean!! Until and unless the governments at the municipal, provincial and federal levels put their heads together and actually collaborate with the goal of increasing the housing supply to actually meet the current (AND FUTURE) demand for housing in the GTA, then nothing effective will be accomplished from a legislative point of view.
The market reached its peak in March 2021 and we are beginning to see a plateau-ing in showings, offers and sales, so we will likely see an organic moderation of the market. But that does STILL not prepare us for the needs of future home owners….like for the 400,000 PLUS immigrants the government is TARGETING to come to Canada in 2022…where at least 25% of those people will locate here in the GTA. Where will they live? Why does the government not even consult with the experts in the Real Estate industry? Why is this continuing to fall on deaf ears? Your thoughts?
5 Reasons why Toronto Homes prices won’t crash! At least for the foreseeable future!
This article is telling it like it is, and I have a reputation for “selling it like it is”! http://bit.ly/1ZahbdT
We’re still in positive territory when it comes to demand, and negative territory when it comes to supply. That means multiple offers and upward pressure on price will likely continue but that does NOT mean you shouldn’t be very diligent and self controlled when it comes to bidding on the house of your dreams.
Sit back and relax and read this balanced and well researched article. It’s about what matters when it comes to purchasing or selling a home….your best interests! As long as household wealth continues to outpace household debt, those “tiny bubbles” will be limited to your champagne glass or your candlelit bath!
transactions and awards, please let me know the best way for me to connect. I would love to offer my highly personal service. Contrary to that old expression, not only IS this business, but it IS personal! And, please, I encourage you to ask me any questions you may have about this post. I value your input and appreciate the time you took to read it.