Since the financial meltdown of 2008, real estate’s been the asset of
choice. In fact even earlier – with Nine Eleven – most people started
falling out of love with mutual funds and tech stocks, and retreated to
the property womb. Thus began the greatest housing boom in Canadian
history.
But all booms end. And now that 70% of us own some, financed with an
ocean or mortgage debt, real estate’s the new Nortel. Will 2013 be the
year everybody gets squished when the elephant rolls over?
That depends on you.
Here are five housing trends to mull.
Pent-up demand.
Not from buyers this time, but sellers. After all, last year brought
new mortgage regs, tighter banking rules, slowing sales and the first
negative media stories about real estate since the bust of the early
Nineties. As a result, legions of sellers withdrew their properties
rather than extending listings and risk getting vultched in a crappy
market. As 2012 ended, there were nothing but pooches for sale in many
neighbourhoods. It was like going to a retirement home looking for
action. (more)
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