Why does everybody have an option about what is going to happen in the real estate market in Canada? It is a story that is not going to go away. There is so much money tied up in the Real Estate. Every facet of life is intertwined with Real Property.
I must read or talk to somebody about their opinion about what is going to happen everyday. I swear I must hear 99 of them everyday. I don’t care how many houses you have sold, or how many projects you’ve backed, or how long you’ve bought or sold Real Estate, the truth is, nobody can predict any future, and nobody knows when or where anything is going to happen. If they did, they would rule the world. So far, nobody has ruled the world, especially in Toronto. They are just getting lucky until this point.
A good prediction of the market is that the pendulum sways in both directions, and will probably again, or it might not. There are many indicating factors for it dropping, but until this point it hasn’t.
Think about it, if anybody knew when and where the market will drop, they would sell every single piece of Real Estate they own, especially now at this high price and wait for it to drop. They would then buy it again when the prices are low. So far, everybody is holding on to their houses and condos, even investors and Real Estate agents. Why, because nobody will know what happens until it happens.
If somebody says they know what is going to happen, they are liars, and its their bullshit ego talking.