EZcumEZgo
2020-08-04 15:57:51
Will Toronto's housing market go up or down?
Will Toronto's housing market go up or down in the next 12 months? Please give your reasons.
Personally, I see two main driving forces moving in opposite directions which more or less cancels out, thus leaving the market relatively stagnant.
Firstly, with the economy in shambles, the real estate market should suffer as well. Expect to see increase of mortgage defaults, people downsizing their home, and the trend of working from home allowing people to move out of Toronto's core. All this portends to more sellers than buyers leading to a slump in average home prices.
On the other hand, with excess liquidity due to federal government desperate to prop up the economy, quantitative easing, too much hot money driving equities markets to insanely overpriced levels, and near zero rates on money markets, it seems there just isn't many safe places to invest our money. In times like these, real estate is a safe conservative choice (if you are risk taker you can speculate on gold or Bitcoin). So we can see increased investment into Toronto's real estate sector driving up prices.
Based on these 2 factors, I foresee the housing market staying relatively stable in the foreseeable future.
Lets hear your thoughts!
Personally, I see two main driving forces moving in opposite directions which more or less cancels out, thus leaving the market relatively stagnant.
Firstly, with the economy in shambles, the real estate market should suffer as well. Expect to see increase of mortgage defaults, people downsizing their home, and the trend of working from home allowing people to move out of Toronto's core. All this portends to more sellers than buyers leading to a slump in average home prices.
On the other hand, with excess liquidity due to federal government desperate to prop up the economy, quantitative easing, too much hot money driving equities markets to insanely overpriced levels, and near zero rates on money markets, it seems there just isn't many safe places to invest our money. In times like these, real estate is a safe conservative choice (if you are risk taker you can speculate on gold or Bitcoin). So we can see increased investment into Toronto's real estate sector driving up prices.
Based on these 2 factors, I foresee the housing market staying relatively stable in the foreseeable future.
Lets hear your thoughts!
吃瓜灌水
This is an answer to the question from the previous poster.
似乎是在高点
after all open up or close down
May I ask why it will still go up if everything's closed down?
the house open source will be not a lot
especially the agent will doing something on the offer (both side) which make the prices so high
But during lockdowns, there are much less people renting rooms or houses. And people are earning less, or at least not more than the time when everything's open. Only with what the agents are doing, in my opinion, the price can't go much further.
is you got the point too
but as u can see i try to get a fight the offer on march 2020 when that time covid 19 happen
and the prices went so crazy i cant even get the offer cuz the agent
There were billions of dollars(40+ billion CAD) flowing into Canada from Hong Kong last year, due to what happened there. I think that's why the price of house kept rising even after Covid showed up. After they pushed up the housing market, more and more people joined as they saw the price go up. It will come to an end in a near future (1-2 years imo) since the economy doesn't show strength matched with that.
long term every tier 1 global city will only go up
too much supply with high interest rates
long term real estate in toronto will be fine. Toronto is a very desirable place to live. Right now or near the future will be great time to pick up some good cheap real esateif you got alot of cash
i seen some crazy deals lately.