Comments on: Canadian real estate: Signs of recovery come with rising listings and cautious optimism

By: D O Reality

D O Reality — Mon, 23 Sep 2024 12:13:08 +0000

The real problem is that the majority of Canadians are tapped out. Carrying huge debt loads they are just managing to service. Or in many cases are unable to carry. Not to mention that as supply continually increases, despite the “do over” listings, values will continue on a downward trend. Which is another important part of the affordability equation. Unfortunately this will put many seller’s deeper under water as they have no equity in the homes they purchased during the height of the market. A prudent buyer will continue to wait out the market. A more accurate prediction is that in 2025 seller’s may have to walk away from their homes. POS will increase resulting in real estate values on a downward trend. The Feds and Liberals have been walking a tight rope to try and keep values high, as there is so much debt tied in with consumers homes. Think about HELOCs. This is the “I want it now era” consumers have been using credit to buy the luxury items they believe they want. The “don’t pay a cent” promotions putting consumers in further debt. Once the Liberal lose the next election Canadians will find out how bad things really are in Canada.

By: Robert Ede, Broker, Toronto

Robert Ede, Broker, Toronto — Mon, 23 Sep 2024 11:54:59 +0000

Don’t forget that TRREB allows each Terminate and relist (same brokerage, same property and same owner within the timeframe of the initial listing) to be counted EACH time as a NEW Listing.

I pointed it out a couple of Annual Meetings ago and a few folks in the (members only) audience had never heard of the Re-List Share Comparison Chart that TRREB published (around lunchtime) within the Market Stats (2nd from right circle on main landing page).

Recently approx 30% of the Published-as New Listings Total on Market Watch are Do-Overs.

It screws up the SNLR that we, the daily papers and monthly pundits look at and that CREA incorporates into their monthly data (that recently has been used by the Bank of Canada in their 1/4ly Monetary report as a “housing market” indicator.

Let’s smarten up!

By: Robert Ede, Broker

Robert Ede, Broker — Mon, 23 Sep 2024 11:53:28 +0000

Don’t forget that TRREB allows each Terminate and relist (same brokerage, same property and same owner within the timeframe of the initial listing) to be counted EACH time as a NEW Listing.

Recently approx 30% of the Published-as New Listings Total on Market Watch are Do-Overs.

Let’s smarted up!