Recent Buyers Face Problems Due to Rapid Price Drops — ‘The Situation’ Consumer Q&A

In our regular Move Smartly feature, "The Situation," lead contributor John Pasalis responds to the questions that real estate consumers are asking right now.

In some parts of Toronto, home prices are now holding, but that doesn’t mean the recent rapid price drops we’ve seen across the GTA and beyond haven’t caught out some new home buyers. This month, John responds to home buyers who fear they’ve bought pre-construction and re-sale homes at the peak, and now worry about the financial hardships they face banks unwilling to appraise at their bought value for mortgage approvals and more

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John Pasalis is President of Realosophy Realty. A specialist in real estate data analysis, John’s research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been utilized by the Bank of Canada, the Canadian Mortgage and Housing Corporation (CMHC) and the International Monetary Fund (IMF).

A leader in real estate analytics, Realosophy educates consumers at and and helps clients make better decisions when buying and selling a home.

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