Scotiabank suggests that a “big drop” in housing prices is “very low”. My question is what defines a “big drop” and “very low”? I know Scotiabank has a number in mind. But guess what? They won’t tell you because a low chance of a big drop keeps you in a positive mindset. Therefore, you spend more money on renovations (via a loan from Scotiabank) and maybe even sell your house and get a new one (with help from a Scotiabank mortgage product).
Why won’t the Canadian housing market follow what has happened in the States? No one says why. Except Garth Turner.
Housing slump continues in the States, by the way. Oh, Happy Memorial Day to my American neighbours!
And if things weren’t bad enough, a Realtor in the…wait for it now….Scarborough area (shudder) was robbed last week. That sucks.
Does anyone know why mortgage rates are dropping? At present they are lower than a pregnant ant. That’s low.
And finally, this weekend is Doors Open Toronto. If you happen to be in the area check it out. You’ll have lots of fun and get a new appreciation for culture and architecture in the Greatest City in the World!