LOT OF PEOPLE ASK ME QUESTION WHAT IS THE IMPACT OF USA ECONOMY ON OUR HOUSING MARKET IN TORONTO AREA.
AND I ALWAYS SAYS "NOTHING". YES, THAT'S RIGHT NO IMPACT ON GTA SURROUNDINGS, LOT OF REASONS AND FACTORS PLAYS THAT ROLE. CANADIAN ECONOMY USE TO DEPEND ON USA ECONOMY SINCE FREE TRADE, AND IT STILL DOES BUT NOT 100% THE WAY IT WAS. THERE ARE LOT OF OTHER FACTORS WHICH SEPERATE USA AND CANADIAN ECONOMY, THE MOST IMPORTANT IS OUR ECONOMY IS SHIFTING ITS PARADIME FROM AUTOMOTIVE INDUSTRY TO HOUSING INDUSTRY. USUALLY IT GETS HECK OF SLOW DOWN WHEN THEASE THREE MAJOR AUTOMOTIVES COMPANIES SLOW DOWN, BUT IF YOU NOTICE THIS IS NOT HAPPENING ANY MORE AS IF HOME BUILDERS ARE BUSY THERE WAS NO SLOW DOWN IN JOBS.
SECOND IS GTA IS IMMIGRANT AREA WHEN EVERY DAY PLANES COMING FULL OF IMMIGRANTS, OBVIOSLY THEY GOT TO EAT AND LIVE SOME WHERE, THEN HOW IT CAN GET SLOW DOWN, WHEN EVERY SINGLE DAY PEOPLE ARE LANDING IN MARKET AND RULE IS SIMPLE ITS RULE OF CONSUMPTION.
RIGHT NOW MAKET IS GOING THROUGH ITS CORRECTIVE PROCESS MEANS THERE WAS UNNECESSARY PRICE JUMP IN SOME AREA SO, MARKET IS CORECTING IT. ITS CORECTIVE ERA, YOU PUT YOUR HOUSE ON RIGHT PRICE IT SELLS NEXT DAY, YOU PUT YOU HOUSE ON FUNNY NUMBERS YOU THINK MAY SELL ON WILL SIT THERE FOR EVER.
SO GTA IS NOT SLOW ITS BOOMING BUT WE ARE GOING THROUGH CORRECTIVE ERA AND ITS PART OF MARKET HAPPENS EVERY COUPLE OF YEARS.
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