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We believe that Toronto prices will bottom out sometime this spring. =========== So one of our key banks acknowledges that rates will rise, but that will not help support the trend of softening prices?
This townhouse: https:// could not sell for 220 k in 2008. Buy it, Garth says invalidating all his advices since 2008 on the topic. I think it’s time for people like Khan to “step up” and take responsibility for their own actions.
“Canadian homebuyers are seeing a “long overdue” improvement in housing affordability, according to RBC, but the bank is warning Toronto residents to enjoy it while it lasts…the retreat from “dizzying heights earlier last year” will be brief.” Then there will be newer and shinier taxes.
I can’t speak for the rest of Canada, but those of us that live in the Lower Mainland always knew prices would only go up and continue to do so.
So house prices went from 1.3 million to 1.25 million in the crap part of town over a few months. MF “It would be tempting to view the fourth quarter’s affordability improvement in Canada as the start of a new, friendlier trend for homebuyers,” RBC Economic Research wrote.
“But this is unlikely to be the case for a few key reasons.