I would agree the realities of Mortgage renewal costs into the persisting 'higher for longer' rate Financial conditions will increase supply of competing listings as demand destruction/recession/stagflation entrench under the the wider Canadian consumer deleveraging cycle now unfolding. Simply put.... even the most ardent 'normalcy bias' based speculative investment sentiments are capitulating into acquiescience that GTA(GVA to lesser extent) Real Estate valuations are unsustainable longer term.... and significant stresses/losses are now not merely 'probable' but inevitable into tighter lending/OSFI regulatory rationales now emergent. The 1989 to 1995 GTA correction is looking like a cakewalk comparatively in percentages expected.... I would suggest with at least a 25% lower from here foreseeable complete with all the Banking/Financial system ramifications that entails.... in a word... "scary" !
Great video 👌
I would agree the realities of Mortgage renewal costs into the persisting 'higher for longer' rate Financial conditions will increase supply of competing listings as demand destruction/recession/stagflation entrench under the the wider Canadian consumer deleveraging cycle now unfolding.
Simply put....
even the most ardent 'normalcy bias' based speculative investment sentiments are capitulating into acquiescience that GTA(GVA to lesser extent) Real Estate valuations are unsustainable longer term.... and significant stresses/losses are now not merely 'probable' but inevitable into tighter lending/OSFI regulatory rationales now emergent.
The 1989 to 1995 GTA correction is looking like a cakewalk comparatively in percentages expected.... I would suggest with at least a 25% lower from here foreseeable complete with all the Banking/Financial system ramifications that entails.... in a word... "scary" !
Great video