Are People still Buying Real Estate?
YES THEY ARE!
The media will have you believe that the Real Estate industry has completely vanished. By quoting statistics that are completely skewed the media has irresponsibly painted a picture that is far worse then reality. Comparing November 2007 sales to November 2008 sales is not at all a clear picture when you consider the implementation of the new Toronto land transfer tax in 2008 and the increased activity it caused towards the end of 2007 combined with the fact that 2007 was a record year for number of sales in the GTA and then comparing that to November 2008 on the tail of a financial meltdown, the tightening of lending internationally, and an election in both Canada and the U.S.A..
All that has passed, and yes even during that period people were still buying and selling Real Estate in the GTA. Life continues and if you need some where to live and shelter your family you to will be in the market to buy Real Estate. After all, your home is still the greatest long term investment for most Canadians and least we forget the pride of ownership and pleasure we derive from that ownership.
Tasis G.
Posted by Tasis Giannoukakis
on January 23, 2009