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Are house prices going to come down?
- Thread starter rashidme
- Start date
OpenGambit
Banned
I would recommend that you also provide information such as location, type of housing, location, price range, location... etc.
um they're already falling. only people who will tell you otherwise will be real estate agents, since their income depends on people buying
and i believe it will be a lot more than 10%. vancouver has seen something like 16% drop over the last year
OpenGambit
Banned
err thats volume not price...
http://www.vancouversun.com/busines...ber+year+over+year+decline/7489336/story.html
i am looking for something in Mississauga, probably Heartland. I wanna get out of Toronto.
frekeyguy
Well-known member
Hartland area.....ZOO of cars...
There should be good mix of townhouses / detached - old&new. A lot of south asian ppl in there....I would not hold on for prices to go down.
frekeyguy
Well-known member
wouldn't doubt that. A lot of these houses have multiple families per unit....I remember when I thought 399K was high...now its just crazy.
well **** me lol
i stand corrected
however its supply demand, if people aren't buying then prices cant continue to climb, or atleast logic would say so.
unless the supply goes down, that could drive prices even higher.
Gone are the days of 0%/40yr mortgages and CMHC changing up some rules for certain home values. House prices will correct themselves but don't expect 30% correction over night (if at all). Some pockets of the country will not fluctuate much if at all (i.e. leaside, beaches, etc) whereas parts of Brampton, Ajax, other suburban locations may be in for a surprise.
Do your research (due diligence is your friend) and stay within your means.
Do your research (due diligence is your friend) and stay within your means.
I bought my 10 year old four bedroom with double car garage and finished basement for half that in Woodstock. lol
Isn't the GTA wonderful?
But you wake up everyday in Woodstock... kidding.... sort of....
OP, nobody actually knows the answer for sure. Market experts predict an adjustment but as others have said it will be a regional thing and some areas wont even notice it.
You neewd to buy into the markety sometime iof you want to live in a certain area, then its a crap shoot. Since you mentioned Mississauga around heartland I would not expect much of a drop IMHO, its very popular with the new Canadian market and thats a growing section in that area. They should keep prices pretty stable with demand.
Come a little further west and you can see stupid at its finest, I'm in "older Milton" , they go for 600+ on my street right now for a nicer one.
You neewd to buy into the markety sometime iof you want to live in a certain area, then its a crap shoot. Since you mentioned Mississauga around heartland I would not expect much of a drop IMHO, its very popular with the new Canadian market and thats a growing section in that area. They should keep prices pretty stable with demand.
Come a little further west and you can see stupid at its finest, I'm in "older Milton" , they go for 600+ on my street right now for a nicer one.
OpenGambit
Banned
I paid that much for a condo. - location location location.
Our crash will be worse since we are more a socialist country then the US. USA housing prices are going down due to free market forces.
We are borrowing money like never before in history thus the high homes prices. Hence the 0% interest rates. As well people are getting government cheques long after they have been laid off. Once the tap has run dry from the governments. Watch for falling home prices.
Just look at Greece, Spain, and Italy. We are going to be like them.
There are some empty $1 million + homes up in Wooodbridge. I know because I have jogged past plenty of them. Our government and media are covering up the trouble well.
We are borrowing money like never before in history thus the high homes prices. Hence the 0% interest rates. As well people are getting government cheques long after they have been laid off. Once the tap has run dry from the governments. Watch for falling home prices.
Just look at Greece, Spain, and Italy. We are going to be like them.
There are some empty $1 million + homes up in Wooodbridge. I know because I have jogged past plenty of them. Our government and media are covering up the trouble well.
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