Its not just real estate. People are not spending. My business year over year is down 80% this month. Everywhere there's "sales". Like, who is paying 800k at 7% for a small house way up in Barrie right now? lol
Losing hundreds of thousands of dollars being unable to close on presale condos in Canada is almost impossible to imagine being possible. It’s such an anomaly at the same time.
Question ? If the real estate market crashes ...........will property taxes be reduced ???? Why are property taxes going up and up ?????? right now I don't get it ?
Based on Market assessment, so as prices rise so do taxes, fortunately assessment does not happen immediately, about every 4-5 years, the assessed value is always lower than real market value, some properties will be lower in value than when they were purchased, so those taxes may not move much, if you purchased in the last 4-5 years your going to get killed in new taxes.
@@richardrogers7479 Yes I am looking at houses and my friends are looking for me and they FORGET ............PROPERTY TAXES when your RETIRED is something to WATCH out for !!
In newmarket area, i see homes sold in a month in june. Just looking, it's hard to know purchase prices since I am not sure if agents are bidding them up. Surprisingly, some signs have "sold over asking."
This is good. A correction of recession should have happened sooner. I hope our country can focus more on productive economic growth rather than real estate speculation. Ideally I’d like to see home prices at 2019 levels, stay about there for 10-15 years and have productivity and wages increase. This may not be realistic but it is something Canadians, including our governments, should aim for.
Its not just real estate. People are not spending. My business year over year is down 80% this month. Everywhere there's "sales". Like, who is paying 800k at 7% for a small house way up in Barrie right now? lol
Prices are all over the map and dont make sense. Some 1 bedroom condos are listed for more than 2-3 bed towns? huh.
It depends on location
Losing hundreds of thousands of dollars being unable to close on presale condos in Canada is almost impossible to imagine being possible. It’s such an anomaly at the same time.
Question ? If the real estate market crashes ...........will property taxes be reduced ???? Why are property taxes going up and up ?????? right now I don't get it ?
Based on Market assessment, so as prices rise so do taxes, fortunately assessment does not happen immediately, about every 4-5 years, the assessed value is always lower than real market value, some properties will be lower in value than when they were purchased, so those taxes may not move much, if you purchased in the last 4-5 years your going to get killed in new taxes.
@@richardrogers7479 Yes I am looking at houses and my friends are looking for me and they FORGET ............PROPERTY TAXES when your RETIRED is something to WATCH out for !!
This is one of the main reasons besides protecting the banks that the government has been intentionally inflating the housing market
Is that serious question? It’s frightening if it is. Does your garbage still need picking up?
@@Seaward1224 MY PROPERTY Taxes went up 14 percent in 2 years . I guess yours didn't .
In newmarket area, i see homes sold in a month in june.
Just looking, it's hard to know purchase prices since I am not sure if agents are bidding them up. Surprisingly, some signs have "sold over asking."
Most of those are listed low
It's just starting
Wow how prices have changed,I believe this is a recession .
This is good. A correction of recession should have happened sooner. I hope our country can focus more on productive economic growth rather than real estate speculation. Ideally I’d like to see home prices at 2019 levels, stay about there for 10-15 years and have productivity and wages increase. This may not be realistic but it is something Canadians, including our governments, should aim for.