Current situation on Housing market in GTA area, what will happen next...?


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RBO   
Member since: Aug 06
Posts: 1761
Location: Mississauaga

Post ID: #PID Posted on: 19-02-19 18:08:19

Toronto real estate prices rose 1.7% YoY in January to a new average price of $748,328. That’s good news for sellers in the GTA, however it is a big irritation for homebuyers who have lead to believe government action would benefit them and create opportunities to buy.
The GTA market is still a big market and only the Montreal housing market has a chance to outperform the GTA housing market through 2020. Housing markets in Calgary and Vancouver are down significantly.

We are back to about spring 2016 prices. Speculators drove the prices from 2014 onward.

So many people not able to close the house deal or just walking away. The value of the home just dropped by at least $200k in some of the GTA Area.

All investors outside of GTA were propping up demand cause of easy money.

Many regular families bought being greedy. Builder took advantage and now laughing at buyers behind closed doors.

Is Canada really moving towards recession? What is future for GTA house market for next 5 years?





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