RE:It's not
redcoats wrote: As bleak as some media and posts try to make it sound. The component they can't seem to grasp, is the increasing affordability:
https://www.ctvnews.ca/business/ontario-and-british-columbia-headed-for-a-buyer-s-market-rbc-says-1.6198286
I think next year is going to be a rude awakening for investors. The US home prices has peaked in June and has been falling ever since. In the last housing bubble, it took 8 years to reach the previous high from around June/July 2006.
Are you really going to listen to the same banks that, predicted home prices will rise again in 2022?
Let's be honest here. They were wrong before and they will likely be wrong again if they believe the bottom is already in.
I call BS.
https://www.canadianmortgagetrends.com/2021/12/2022-housing-and-interest-rate-forecasts/