Downturn in Canadian home sales expected to last for years 1

Downturn in Canadian home sales expected to last for years

 

Tom Storey of Royal LePage explains how the housing market has changed since COVID-19 and why condos sales will be affected most.

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30 comments

  1. those stats shown were handpicked to support their narritive. GVA home sales down as they showed but thats a volume number. GVA april 2020 home sale prices were still 2.5% above april 2019.

    1. Takes a while to trickle down. If ya buy a place in April chances are you wanted to buy for months/years before you pulled the trigger. Also, 2.5% is around the annual inflation rate so maybe a real 1% increase above true inflation?

  2. It will take longer than that under this Liberal government..Chase away the investment..High unemployment..Massive debt.. Crashing home sales
    Another day hiding at the Cottage for our Liberal PM

  3. He has the look in his eyes like “I’m not wearing pants and you don’t know that.”

  4. My house isn’t worth 1/2 of what I paid for it. So much for my retirement.

    1. Trump is my President I am Canadian Just don’t sell now. Wait if you can and sell when things pick back up.

  5. My old neighbor just put his house on the market at a price 33% above the pre-virus valuation.

  6. ya what a crock, home sales will skyrocket in rural areas as everyone flees the city leaving only stupid reporters like this one in the cities

    1. Well said!
      I wouldn’t want to live in the city. The crime rates are going up for “some reason”.

  7. funny, i want to watch the news and turn it on, two minutes in im back to videos of fixing caterpillar tractors, much more informative and truthful

  8. Can’t wait to move to the Republic of Alberta and Saskatchewan. Moving to the country going to pick me some peaches.

  9. Overpriced market due for a correction, shame it’s one of the biggest assets for most Canadians. Anyways, price can’t keep on going up indefinitely because it’s not sustainable.

  10. Be honest dude. Condo sales will be down bc no one wants to live in condos anymore bc of social distancing.

  11. Here in America , we have been told we could see a depressing much worse then the great depression of the 1930.

  12. 50% off by fall 2021. Buyers this summer are going to be heavily underwater within a year but hey maybe Im wrong

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