'Getting worse for buyers': Bidding wars are breaking out in Canada's housing market29 Jun 2020
How is the state of the housing market across the country?
The 10-minute interview between Lauren Haw, CEO of Zoocasa (a real-estate agency), and Financial Post’s Larysa Harapyn is worth listening to.
Although I recommend listening to the whole interview, I've transcribed (at my best) the 2 elements I find most interesting:
|Interviewee : It's really important that you're looking hyperlocal because the west part of the country is balanced, the east part of the country is a sellers' market, but within that, there's very different stories.|
Interviewer : Most recently, CMHC has said that we will see severe decline in home sales and construction...that the real-estate market won't bounce-back to pre-pandemic level until the end of at least 2022. (...) Your thoughts on that?
Interviewee : (...) It's just not what we're seeing. So, it's really hard to predict fallen prices when right now I see 3 main reasons that are keeping prices high and will drive prices further upwards: