2019 will be about bidding wars. Monetary policy is easing. The cost of money will drop unless there is a global economic or environmental disaster. Money will stay cheap to protect stock markets. Government regulation such as the 2% stress test will be reduced or removed to protect provincial and municipal tax collection. Ontario policy
The heat is back. On January 4th, 2019 Federal Reserve chairman Jerome Powell announced low inflation would allow the Fed to be “patient” in deciding whether to continue raising interest rates… After the DJI Average dropped 20% due to investor fears over raising interest rates it looks like we are headed back to cheap money.
There were 12,388 less properties for sale this year from last year – a 16% drop in listing and a 4.3% drop in average sales prices in the GTA. Do you know where prices didn’t drop? TORONTO. Location Location Location!! The Gov of Can’s recent announcement putting interest rate increases on hold means we are
Prices slump and so do active listings. The stats represent TORONTO as a whole – I can tell you that property values in premium areas continue to climb while attracting multiple offers. Supply is an issue and I expect it will continue to be an issue moving into the spring – the stress test has