Once again the media is scaring the public into thinking the sky is falling. When an article is titled “House Price Collapse“, what are buyers going to think? They will think don’t buy! The impact of this is huge as buyers decide to hold off on buying until they feel confident the housing market is stable again. When buyers stop buying, sellers stop selling and they in turn can’t buy the house they want. The whole market will collapse if buyer confidence disappears. I can appreciate letting the public know if rising interest rates, its important they do know. But to throw out numbers of 25-35% decrease in house prices is ridiculous. There are many markets across Canada that all react different to change and a 35% drop would be on the sky is falling end of the spectrum. These types of media outbursts only makes things potentially worse.
Buyers Scared of Canada Real Estate
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