Tuesday’s figures may also signal the worst of the recent slowdown is over. Average prices in Toronto were little changed from June, and the nationwide sales decline in July was much smaller than in May and June, which each saw drops exceeding 6 percent.
I think is wishful thinking.
Glad my wife and I sold our home last year. Our financial advisor encouraged this decision. We now rent.
Smart move dave as long as its a temporary “wait out the storm” type of plan because owning a home is still a great deal better than renting in the long run even with maintenance and upkeep and property taxes.
As an aside dave i paid my mortgage off in july so i dont really care what happens i want it to drop so i can get some little one bedroom apartments at wholesale prices!!
People who can pay a million or more for a home are not stopped with a token tax on rich home buyers. They simply pay a bit more for what they want or need.
Major cities are now only for the rich and the poor. The middle class, working slob has no chance in the big city.
I encourage skilled people to move to smaller mid sized cities of around a 100K more or less …. that is where one can find success in small biz or a decent job in an affordable place.
I mean to say … drugs, crime, constant left wing protests and unaffordability are not for everyone.
The problem is that the government tax deflates ALL housing values. So Canadian homeowners have been hit by loss of equity to some degree. Somewhere I would like to see a calculation as to just how large the financial loss is to homeowners generally from this government tax.
Its called white flight j
agreed. ‘speculation’ taxes and aaaaaall those gubbamint ‘fees’ meant to ‘calm down the overheated market’ merely chase away the wannabes.
who but a hardcore lieberal would hang around tranna a.k.a. the nation’s ‘tumor’ in their retirement years sitting on a 2 +/- million dollar asset. jeezuz murphy people, GET OUT.
Alright then … the decline is … less declin-y !!! Woo hoo !! Congrats and backslaps all around. Only Captain Capitalism is saddened over his loss of enjoyment with the decline.
Looks like Phil Jones isn’t the only place to find ‘hide the decline’ horse hockey going on. Things will get worse before 2019 when hopefully enough people have had enough of economy wrecking progressive lies.
let me know when one can buy a house for less than the inflated value. The government has created this particular type of inflation, not the market. People keep saying it is the market but it is underlying policy that has created it. Imagine paying a million dollars for a shack and tearing it down and then building a 5 million dollar shack. Man we are stupid. many years ago I lived on Wellesley Ave in TO. Captcha……..Wellesley calle. I don’t think I could afford the cheapest piece of crap there these days.
Canadians will never have enough socialism. Even if the country starts to look like Venezuela, Canadians will still look for government to fix things. You can’t fix stupid.