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4 Things to do BEFORE the Next Real Estate Correction

Look, there may not be a real estate correction of any sort for many years.  But we like to be prepared.  This week we share the 4 things you should consider before any real estate correction does hit...

 

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0 comments on “4 Things to do BEFORE the Next Real Estate Correction”

  1. Tom, i'm a bit confused by your video, as I'm watching it on Feb 25, 2019 - are we not in the midst of a real estate correction for the past 2 years in the GTA market? On average prices are down 20-25 percent around the city. If thats not a correction, I dont know what you are referring to then in your video. I can see another 5 or even 10% lower from here, maybe, but to ignore the fact that we've fallen so fast and so quick already (which is what a correction is generally defined as, including the 20% threshold) is quite perplexing? Just asking, cause maybe I'm missing something here?

  2. Hi Josh, I don't think you're missing anything. In some areas and price points prices are down, but it's not the majority from what we're seeing. In many areas and price points in Ontario that we work with prices aren't down. For example at some price points in Hamilton and St. Catherines prices are slightly up this year and we're even seeing multiple offer situations again. Crazy, but true! But at higher price points across Toronto, so $2M plus, prices are down. But across the board in Toronto prices are up year over year (http://trebhome.com/index.php/market-news/market-stats). So we're in a mixed situation. We don't see prices down on average across the board of property types and price points.

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