The stats don't prove it...yet

(April 09, 2018 )

There are many speculations as to what's happening in our market. With the Government intervening into the real estate sector, major financial institutions adjusting mortgage approval mandates and the general conversation of the public's perception of the market, we could be in for a bit of a change! 
Here's what we think:
1. The Government has never been more involved with the real estate market than now. There are changes to the property transfer tax calculations (which is a huge amount of money on the purchase price that we cannot mortgage as well as we never see a penny go towards housing), they've interjected into how we conduct and contract our business and have tried to essentially price correct by calling it housing affordability
2. The financial institutions have certainly affected the market pricing by the "stress test" implemented in January of this year. 
3. The media puts fear into our minds with articles written in such a way that the floor is about to fall out from under us

From what we can see, there are areas of our market that will continue to sell and buy strongly (ie: mid range condo's and under $2,000,000 single family detached.