Reitmans Ord Shs V.RET

Alternate Symbol(s): RTMNF | RTMAF | V.RET.A

Reitmans (Canada) Limited is a Canada-based specialty apparel retailer for women and men, with retail outlets throughout the country. The principal business activity of the Company is the sale of women’s wear. The Company operates three different brands: Reitmans, Penningtons and RW&CO. The Reitmans banner is a specialty fashion destination. The Reitmans has an online presence and store locations across the country. Penningtons is a destination for plus-size fashion, ranging from sizes 14 to 32. Penningtons operates stores across Canada, as well as an ecommerce site at penningtons.com. RW&CO. operates stores averaging 4,500 square feet in premium locations in shopping malls, as well as on their e-commerce site. Specializing in menswear and womenswear, the brand delivers versatile, well-crafted collections and brand experiences. It operates approximately 391 stores under three distinct banners consisting of 226 Reitmans, 85 Pennington, and 80 RW&CO.

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Reitmans Ord Shs > Cad : USD

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Comment by flamingogoldon Aug 08, 2024 11:05am

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Post# 36169479

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Cad : USD

TJ, that convo was not with me. Maybe you were talking to a realtor lol, which I am not. I agree with you on Toronto real estate aside from a few points. I'll stick with T.O. as that is my locale.

I've kept close tabs on the market for well over 30 years. I myself bought my first home in the late 80's just before the market crashed. I held for 8 years selling in 1997 and didn't make a dime. I didn't lose, but I also didn't make anything either. A wash.

Post 2020 dot com, rates went into the ditch and pretty much stayed there until recently. Real estate became a commodity, realtors became superstars on billboards and buses. Everyone was lining up to buy pre-construction because no one loses in real estate, it never goes down unlike the stock market.

But, here we are, 4 years since covid began and prices, while under pressure, are still above pre-covid era. Rates are at decades high. Inventory is growing but prices are not cratering. In normal housing cycles, rate increases lead to real estate price drops. What gives? I'm scratching my head here too. All real estate markets are local and as far as Toronto goes, immigration is certaintly playing a role in holding up the stilts.

This time next year we could very well be looking at rates 1% lower. I believe that that, along with the influx of new Canadians, it will keep our market balanced. Flippers and specuvestors will be flushed out but a market crash is not likely. In fact, let's not wish for it because then we're all in trouble, homeowner or not.

Torontojay wrote:

Lllennn wrote: A 37th-floor luxury condo in the heart of Toronto’s entertainment district that sold for a $320,000 loss is an example of a condo market that hasn’t been this tough in decades, realtors and observers say.
NO VOLUME? 1.90-2.00 volume IMO not fact imo.

I remember having a discussion with someone on Stockhouse that the Canadian housing market was in a bubble. The general push back I received was that immigration will keep property prices elevated. I of course disagreed with this individual.

Now here we are, with over 1.2 million new immigrants entering Canada over 12 months and real estate is getting pummeled in Toronto. Keep in mind that most of these immigrants land in Toronto. Why aren't property prices moving higher?

The real estate correction in Canada is far from over. Prices always continue to drop AFTER they lower interest rates as it did in the 1990's and GFC.

We need to restore housing affordability in this country. Home prices will continue to decline or your wages need to increase substantially. One of these two things has to happen. So far it hasn't been the latter.