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by refurb 1440 days ago
With rising rates expect housing to fall.

Canada had a massive run up and with increasing rate the ‘burbs of Toronto are down 25% in the last two months.

Unless you have a crystal ball, I wouldn’t count on the current trend continuing.
1 comments
marvin 1440 days ago
> with increasing rate the ‘burbs of Toronto are down 25% in the last two months

Are you saying that real estate prices in Toronto suburbs have fallen by 25% in two months? That's incredibly quick; generally real estate crashes take a couple of years to play out and bottom out at a ~40% decline.

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refurb 1440 days ago
Yes, median sales price is down 25-30% since rates started going up.

That said, those same places were up 50-100% during Covid. But the latest drop bring them back to pre-Covid levels.

However, rates just went up 100 bps today and will likely go up by another 100 bps by year end.

Canada is looking at a major correction, but that said, the median price in Canada is 2x the US, so there is plenty of room to fall.

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