In spite of their best efforts, even the TikTok realtors are struggling to find anything even remotely hopeful to cling on to.
Lest there be any confusion about what is behind this seemingly abrupt turn, it’s not a summer slowdown nor a return to pre-COVID market rhythms — it’s interest rates.Article content For all of the talk of supply and demand, shifting buyer priorities, population growth and immigration targets, it turns out that what should have been the most obvious element of all has also been the most impactful.
Meanwhile, the cries for help are already starting. Predictions abound that the government will step in and do away with the stress test, extend amortization periods, or offer payment vacations. Forgetting of course that the government we would be asking to save us is the very same that used every tool available to prop up our housing market through the pandemic, allowing this bubble to form in the first place.
Who knew? 🤣🤣🤣🤦🤦
Don’t feel bad for all the real estate agents fleecing people.
Investment in housing is crumbling and prices for everything is rising. The interest rates are not helping anyone but the banks.
Hopefully all Liberals will lose everything.
If by taking a beating you mean sellers are less able to fleece prospective buyers because they have priced themselves out of the market, I agree.
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Source: financialpost - 🏆 7. / 85 Read more »