The Weakening

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I think we can all agree that the Canadian real estate market is weak(ening). It’s not that I have an agenda to push or a service to sell as a result of this recent phenomenon. Facts are facts: There are more listings on the MLS, closing times are being increased, and listing prices are coming down.

What does this all mean? In my opinion, it means that if you just bought, you better hold on for the long haul and hope 1) you have a secure job to continue your payments, 2) you have a VRM and 3) that you don’t end up with negative equity. If you’re looking to buy, RELAX. Wait a while. I guess it depends on your local community but prices are coming down. Your deal is soon to be had.

Are you interested in following some cool articles on real estate? Then follow me on del.icio.us. I’ll post articles there instead of links here.

Have fun and stay profitable!

Karim Kanji

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