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> with increasing rate the ‘burbs of Toronto are down 25% in the last two months Are you saying that real estate prices in Toronto suburbs have fallen by 25% i
by marvin 4y ago
> with increasing rate the ‘burbs of Toronto are down 25% in the last two months
Are you saying that real estate prices in Toronto suburbs have fallen by 25% in two months? That's incredibly quick; generally real estate crashes take a couple of years to play out and bottom out at a ~40% decline.
- refurb 4y agoYes, median sales price is down 25-30% since rates started going up. That said, those same places were up 50-100% during Covid. But the latest drop bring them back to pre-Covid levels. However, rates just went up 100 bps today and will likely go up by another 100 bps by year end. Canada is looking at a major correction, but that said, the median price in Canada is 2x the US, so there is plenty of room to fall.