In a report released on Thursday, RBC assistant chief economist Robert Hogue said that while “demand-supply conditions look reasonably balanced nationwide” that is not the case in many of the country’s most expensive real estate markets in Ontario and British Columbia.
His report comes just two weeks after Re/Max warned that housing prices in the GTA could drop nearly 12 per cent in 2023. In his report, Hogue said that while the slowing of the pace of price declines in recent months is likely a sign that the “market downturn has run most of its course” its unlikely that things will “heat up again in short order,” especially in costlier markets in Ontario and BC.
It’s a “BUYERS” market for those with liquid cash & big $ in place. First time buyers still have to save $200,000 to put down on a $1 million dump & 🙏🏽 one of the 4 major banks with give them $800,000 on a mortgage. Ages 19-35 are in one hell of a mess in 🇨🇦
RBC jumping the gun...more discounts In spring 2023
Lol it's always been a Buyer's market otherwise who bought all the houses . When to buy a home . When you can afford to it's always been the same no matter how the news tells you .
I’m using my 500$ top up as a down payment on a home. Thanks JustinTrudeau for having Canada’s back!
Hope it keeps going until there’s something closer to an actual market crash before it’s truly in favour of the buyer. Until then it’s just a slight adjustment.
Not even close
Nope, it isn’t.
Prices going to skyrocket in mid 2023. Mass immigration coming and no supply.
WHO WANTS TO LIVE IN CHICAGO OH SHIT I MEAN THE GTA ANYWAYS LOL 😆
Lol it's always been a Buyer's market . Otherwise no one would own a home come on .
It will never be cheap in Toronto. Maybe in Nunavut somewhere. But not in the largest city in the country.
I'll wait another year.