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Old 2017-09-14, 11:24 AM
doublep doublep is offline
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Join Date: Jan 2016
Posts: 70
Default sales have stalled

Sales have stalled over the last two months.
builders have not raised prices but are now offering incentives.
They will begin to offer more incentives as real estate continues to slide.
I expect prices to go down by another 20%.

Fall 2013 a home worth $1.2m was selling from $2-$2.2m prior to April.
Now we have people asking $1.8m but not receiving any offers.
If they lower by another 10% they get an offer just below that and it is sold.
The house should be worth about $1.5m now in reality.

It's all fundamentals.
Last 3yrs is nothing but fake demand, investors flipping to each other in the GTA.

Some will get burned over the next one year.

As for new homes look for huge free upgrades.

Wait till next year.
Tougher mortgage rules even with 20% down will hurt those borrowing money for downpayment from mom and dad and other relatives.
BofC will continue to raise rates..look for one more by year-end and another before March.
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