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July 06, 2009

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Navtaj Chandhoke

excellent article

Navtaj Chandhoke
Founder, Professional Real Estate Investors Group (PREIG) Canada
www.preigcanada.com

Jordan

So will this finally silence the people who have been saying that "now's a great time to buy"?

lipstickonapig

Great article John!

I was doing the same analysis and thought I would check your site to see if there was mention of this very grim situation. I'm glad you haven't joined in with CREA and TREB saying that the recent sales activity is representative of a return to a healthy real estate market. This is absurd! As you've stated, this is a very unhealthy marketplace. Using Central Toronto as an example: sales to active ratio went from 40% in June 2008 to 70% in June 2009!!! The potential ramifications are obvious: an extremely low supply of houses is not sustainable and eventually, market forces will prevail causing a flood of supply into the market causing a crash in prices. Add to this the very real concern of rising mortgage rates (three months ago I could get a 5 yr fixed for 3.5% now it will cost me 4.4%!)and the potential for a crash in home prices is very high.

John, you hve assessed the current market very well -I'd love to get your thoughts on the potential ramifications.

Thanks,

scared pig

Arman

I sold my house in June, 2009. Is this the right time to buy or should i wait for a better market. Thank you for advice.

Tax Foreclosures

Through the given graph imbalances in the market demands of real estate and property investments have been seen in Toronto's market , these show an unstable conditions .

akshayata

very useful article for people who want to buy new property.

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akshayata
Brisbane real estate

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