Since I started selling Real Estate, I always hear from people wanting to buy or sell, I’m waiting for the market to go down. If you live in Toronto, Vancouver or Alberta, you are going to have to pay more money to get a house or property.
What’s Driving this market? Its simple, the interest rates are low. While prices are climbing and regulations are getting really tough, the people that have equity already and have good credit and a good paying job are capitalizing on their good fortunes. The rich get richer.
The market will not go down until the interest rates go significantly higher and make it impossible for these do-gooders to stop qualifying for a second property.
We also now have a lower dollar and lower gas rate. Cheaper oil, and lower dollar are contributing to attracting foreign dollars and investment again in the country. All this is leaving Canada as an attractive place to invest, and invest significantly in Real Estate they are.
My professional advice is that if you are thinking about investing or buying a property, do it now, so you can start seeing the investment go higher and stop waiting it out on the side lines while other people are making money. The markets not going down anytime soon, get your head out of the gutter.