Toronto Real Estate Prices Posed for Collapse

By
Real Estate Agent with RE/MAX Realty Specialists Inc.,

Are we at the top of the pricing?  Is everything down from here? 

 

The months stats say that the real estate market has slowed down and I wonder why?

August 3, 2012 -- Greater Toronto REALTORS® reported 7,570 sales in July 2012, representing a decline of 1.5 per cent compared to 7,683 sales reported in July 2011. The decline was most pronounced in the condominium apartment segment in the City of Toronto. Total sales in the rest of the Greater Toronto Area (GTA) were up compared to the same period last year.
http://www.torontorealestateboard.com/market_news/market_watch/2012/mw1207.pdf

 

It’s the summer time! Hottest July on Record! Poor Press in the Media?  Shortened Mortgage AMs while rates stagnate at 3%?  Gas Prices? Insurance Rates? Commuting Times?  Land Transfer Taxes 416 and 905?   So many opinions!   Do they matter?  Will it drop?  ....  Doubtful.

 

Real Estate will not decline UNTIL there is a surplus in supply

[ Homes that No one is buying ]

 

 

Let’s ask a different question?

 

If your family member was getting married…   Is it better to help them with the Wedding Expense?   Or would you forgo the wedding,   Suggest they elope, and help them purchase an appreciating asset.

 

 

Join the Poll 

 

http://www.facebook.com/groups/153969581393863/#

 

 

 

We continue [The GTA] to be a safe haven for money, security, jobs, education and lifestyle.   When people stop coming to Toronto, I will begin to be concerned.  The rest is just selling newspapers

 

How can I help your family achieve their goals this year?

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Topic:
Home Buying
Location:
Ontario York Region Toronto Etobicoke
Groups:
Realtors®
RE/MAX Active Rain Bloggers
RE/MAX Ontario-Atlantic
Toronto (Canada) Real Estate
Tags:
bubble
inventory
prices
toronto
real estate
ceiling
rhetoric
david pylyp

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