Enjoy
Mark
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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Right, but this trend cannot continue forever. In rational world the higher prices go there will be less people to buy, except when you throw cheap money. I am still astonished that people in the middle of a recession would buy real estate and bid up prices. It seems so irrational. There is a limit to how high prices can go which has happend in Japan, US, Spain, England, etc.
ReplyDeleteYes, we've seen this before in the mid to late 90's and once the market corrected in 89 to 94 it took 12 years to recover to the highs of 1989, see here:
ReplyDeletehttp://www.mississauga4sale.com/blog/2008/09/some-perspective-on-canadian-markets.html
I've been involved in and watching the current run up of prices since 1995, prices have increased every single year since 1995 except last fall when prices dropped, but, prices have increased this year and the average price is now well over $400k and continues to increase.
All the best,
Mark