RE:RE:RE:Canadian dollar to take a hit Torontojay wrote: What are you talking about Flamingogold?
The housing market in the gta is easily down over 20% from the peak in early 2022. This is on par with the steep correction that plagued Canadian homeowners in the early 90's.
Let's not even talk about commercial real estate which makes the residential correction look like child's play. Did you see the vacancy rate for office space?
Canada's gdp per capita has been negative for 6 consecutive quarters! That means the standard of living for Canadians is declining and that's not a positive sign.
My house is currently still worth 3x what I paid for it 8 years ago. But yeah, probably down 20% from 2022. Steep correction? Sure. The GTA doesn't accurately represent what happened in the average Candian city. Housing prices would need to be cut in more than half to bring them back in line with where they should be.