RE:RE:RE:RE:RE:RE:Article: Toronto Housing Market ImplodesTraderBen wrote: FlamingFiat wrote: Toronto real estate has been smashed, canader. Picking apart sentences will not change that. No further comment.
Sales are down from the April highs (A LOT) but this was expected with the new gv't measures and it is a seasonally slow time of year as well. It is imiportant to look at all the metrics, not just sales volume. - because prices are still up modestly. So it is hardly accurate to say that real estate has been "smashed". Sure, some individual areas (Richmond Hill) saw price decreases, but some saw increases. If you make a gereral statement such as "real estate has been smashed" you are a over the top.
September numbers will be looked at very closelly to see if buyers return.
I feel sorry for those holding mortgages more than the value of their assets ! This group of people had to decide to sell their properties at loss and move away, or keep on with their monthly payments and bills until market returns. There is no need for me to say the housing bubble burst is real when Canadian household debt levels are at all times high. Toronto real estate market is smashed that i agree with FlamingFiat. As to the BH investment into HCG, Warren Buffett has time and money for their game plan. This will be the longest Yard for HCG holders.