While some have quite clearly determined the worst is behind us, others are bracing themselves for what comes next should economic hard-landing lie ahead — a painful recession with widespread unemployment isn’t a complete impossibility is it?
Perhaps unsurprisingly, the conversation that I have been having over and over and over again is with my older clients who are wondering if this right now is their moment to capitalize and cash out. As transactions ground to a halt and prices fell, there were many wondering if they had missed their moment in their attempt to catch the top of the market.
But now that things are humming again, most particularly in Central Toronto, there appears to be a new sense of urgency in getting to market..Clients who had planned to take their time and consider listing in the fall are now charging full speed ahead into purpose-built rental buildings, recognizing a viable, though perhaps not completely ideal, interim solution as they contemplate what’s next while still getting their houses up on the market to catch this rally.