That's not strange. Back in the 90s the same thing happened. Why? GDI was rolling over. Wages just can't support prices where they are now. And back in the 90s it took yrs for the prices to find support levels. Treasuries are close to going uninverted and this is when everybody needs to worry. It's got nothing to do with it being summer.
Price is not just based on rates, it is also based on sales. Low sales means high inventory or supply, high supply means low prices. Rates doesn't affect the price as much as the economy, it doesn't matter if the benchmark rate is 1% if everybody is broke then who will buy.
The US Fed is at 5.5%. Bank of Canada is now 4.5%. If rates drop any more the CAD will drop to 63 cents again. Import prices will explode then fresh inflation. We are killing the CAD to try and save RE prices that are too high for incomes. We are all getting poorer.
Today's lower interest rates indicate the economy is weakening, not a good sign for housing. Weak economy ==> less demand for homes ==> Lower interest rates ==> Why buy now? ==> Weak home prices. Strong economy ==> people comfortable in big purchases ==> higher interest rates ==> Hurry and beat future increase ==> house prices increase. It's simple economics, and with the exception of what happened during COVID, is what prior markets did.
Hey, enjoyed the video🙌! I'm not really sure if it is the best time to ask but, I was wondering if I could help you create a better distribution by working on post-production like better storytelling through Edits, Keywords, think catchy intros and outros, or even some engaging short clips! Would love to chat if you're interested and keep creating good content:)
Real estate in Canada varies by region. However, following today's Bank of Canada rate cut to 4.5%, keep an eye on the market. With speculation about further reductions to 4% this year and 3% next year, will buyers continue to wait? As the market shifts, sellers may become more flexible on prices. For buyers, this is an opportunity to prioritize the most important factor in real estate: location. Remember the mantra: Location, Location, Location. In today's market, buyers can secure prime locations. If prices rise again next year and affordability becomes an issue, you'll wonder why you didn't act in 2024. While no one can predict the future, we can make informed decisions now. Always do what's best for you, but stay well-informed. #CristianEnache #Realtor #RealEstate #GTAOntario #Money
Way to try and pump the market at every opportunity. Why not tell people the truth, that as interest rates fall the economy is nosediving and house price will follow it down. Be smart people, be patient, much lower prices and more inventory are incoming to every town in Canada. Basic economics, look it up.
![สาวเมืองเพชร - ธีเดช ทองอภิชาติ [Official MV]](http://i.ytimg.com/vi/kEt7F9PvO3I/mqdefault.jpg)
Check out our COMPLETE interest rate report here: www.elevatepartners.ca/canada-interest-rate-forecast/
Historically prices have fallen alongside interest rate cuts.
That's not strange. Back in the 90s the same thing happened. Why? GDI was rolling over. Wages just can't support prices where they are now. And back in the 90s it took yrs for the prices to find support levels. Treasuries are close to going uninverted and this is when everybody needs to worry. It's got nothing to do with it being summer.
Price is not just based on rates, it is also based on sales. Low sales means high inventory or supply, high supply means low prices. Rates doesn't affect the price as much as the economy, it doesn't matter if the benchmark rate is 1% if everybody is broke then who will buy.
The US Fed is at 5.5%. Bank of Canada is now 4.5%. If rates drop any more the CAD will drop to 63 cents again. Import prices will explode then fresh inflation. We are killing the CAD to try and save RE prices that are too high for incomes. We are all getting poorer.
Today's lower interest rates indicate the economy is weakening, not a good sign for housing.
Weak economy ==> less demand for homes ==> Lower interest rates ==> Why buy now? ==> Weak home prices.
Strong economy ==> people comfortable in big purchases ==> higher interest rates ==> Hurry and beat future increase ==> house prices increase.
It's simple economics, and with the exception of what happened during COVID, is what prior markets did.
Who would be buying a house when you are about to lose your job?
Hey, enjoyed the video🙌!
I'm not really sure if it is the best time to ask but, I was wondering if I could help you create a better distribution by working on post-production like better storytelling through Edits, Keywords, think catchy intros and outros, or even some engaging short clips!
Would love to chat if you're interested and keep creating good content:)
what did you think was going to happen? the Earth would move? save your tears for another day
No mystery, just over priced
What kind of lens do you use? Your face looks unusually large. Like a bobble head or something.
Smart investor s are gone just look for first time home buyers
Real estate in Canada varies by region.
However, following today's Bank of Canada rate cut to 4.5%, keep an eye on the market.
With speculation about further reductions to 4% this year and 3% next year, will buyers continue to wait?
As the market shifts, sellers may become more flexible on prices.
For buyers, this is an opportunity to prioritize the most important factor in real estate: location.
Remember the mantra: Location, Location, Location.
In today's market, buyers can secure prime locations.
If prices rise again next year and affordability becomes an issue, you'll wonder why you didn't act in 2024.
While no one can predict the future, we can make informed decisions now. Always do what's best for you, but stay well-informed.
#CristianEnache #Realtor #RealEstate #GTAOntario #Money
Way to try and pump the market at every opportunity. Why not tell people the truth, that as interest rates fall the economy is nosediving and house price will follow it down. Be smart people, be patient, much lower prices and more inventory are incoming to every town in Canada.
Basic economics, look it up.