Canada Mortgage and Housing Corp. said Monday that housing starts fell a 9.6 per cent to 213,700 annualized starts in August, the lowest rate since last October.

The slowdown followed a report last week that Canada's jobless rate rose to 6.5 per cent in August from 6.4 per cent in July, the third month in a row the Canadian economy has lost jobs after a huge gain in May.

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1158054426963&call_pageid=968350072197&col=969048863851

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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership

As said prevoiusly, I wish to confirm the slowdown in the housing market.
Just today, without any notice 2 staff from our office (one desi whom i helped to get a job and another east european lady) have been laid off from work Considering that we are just 10 people, 20% have been laid off. They have been told that there is not enough work.
So this is an indication. I expect that in 1 year, the slowdown will affect the home sales/ home price in the GTA.
So people buying houses on speculaltion, Beware !
Architectural people thinking of migrating to the GTA in search of employment (only in house related drafting, designing jobs), Beware!
Please note that this is just my opinion. You very welcome not to follow it.
TK A

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I am a Gents and not a Ladies.

Of course it is a slow down compared to last few years. Media, TREB reports and many people in real estate and housing business feel the same. And then TK is giving us the first hand info!

But this slow down DOES NOT mean that prices are coming down. It means lack of activity than what we saw in the last year. There are no more frequent multiple offers/ price wars etc. Prices are staying strong and moving up slowly, but have lost that pace or sharp rise.

But then there are price ranges where I still feel that we are in the sellers market (250-400K) unless one is talking about condo apartments in Mississauga/ Toronto ( very much a buyer's market)

In my opinion the overall market is somewhat mixed- no. of buyers and sellers are in equal nos. at the same time. This mean lots of competition amongst available inventory. Nicely priced, well kept, better marketed homes will sell faster than the average homes.

Good time for quality Realtors!

The point of discussion is "When is the right time to buy?"

And the answer was given above: "Anytime you can afford to buy a home is good time to buy."

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

chittesh,
This fight over difference of opnion will go on, your right time to purchase house is when you are comfortable to pay monthly / weekly payment of mortgage. End of the day it is your call...anyway property price over 5 years are not going to dip that low that you will make loss....so why do you want to worry over it now

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