Hi Rachel, I think that is a possibility. IF STR units start selling en masse then the prices will come down and spread to the condo market in general.
If that’s the case, it will be spilling into single family also. Entry level single family home buyers will start to flirt with nice condos if the price is right.
Spot on Ira, thanks for the information. I'm curious if in the next video you could shed some insight on rental availability and rent prices. How is the current housing market and interest rates affecting those? Interesting times to come but living in your investment still beats all other types IMO.
Thanks for the suggestion, rental prices seem to have peaked. I think we may start to see a cooling of rental rates... LOTS of re-posts and vacant listings on FB Marketplace lately.
Thanks Ira. Sobering update, but on 🎯 I feel. The bubble is about to burst, and as one of those unfortunately souls to have bought in the recent Victoria real estate crazy times, it's worrying time ahead indeed
It's only worrying if you have to sell! Hold on and ride it out. Everyone needs a place to live, and Victoria rents are still high and that will keep the bubble from bursting, but we can still get a decline in prices.
Now with an Airbnb ban coming there will be lots more inventory available pushing listings down
Hi Rachel, I think that is a possibility. IF STR units start selling en masse then the prices will come down and spread to the condo market in general.
If that’s the case, it will be spilling into single family also. Entry level single family home buyers will start to flirt with nice condos if the price is right.
Well said, Thanks Ira.
Always great info. Thanks Ira!
Thanks for watching Eric!
Spot on Ira, thanks for the information. I'm curious if in the next video you could shed some insight on rental availability and rent prices. How is the current housing market and interest rates affecting those?
Interesting times to come but living in your investment still beats all other types IMO.
Thanks for the suggestion, rental prices seem to have peaked. I think we may start to see a cooling of rental rates... LOTS of re-posts and vacant listings on FB Marketplace lately.
ok... but will there be a free rider 4?
Thanks Ira. Sobering update, but on 🎯 I feel. The bubble is about to burst, and as one of those unfortunately souls to have bought in the recent Victoria real estate crazy times, it's worrying time ahead indeed
It's only worrying if you have to sell! Hold on and ride it out. Everyone needs a place to live, and Victoria rents are still high and that will keep the bubble from bursting, but we can still get a decline in prices.
*PromoSM* ⭐