Why is the market slower???

[extm88]

If you havent notices, RE sales have gone way down over the past few months. Even worse, they are done drastically from this time last month. The most common excuse heard is that CMHC doesnt offer a 0 or 5% down option anymore.
While so many people believe this it is not true.... You can still purchase a property for 0-5% down. It is only if re-financing that you need the 10%.
Also, I have heard many people say they are waiting for the 400+ foreclosures to hit the market from the BMO bust. Most of these places have already been sold off!
Regardless, its going to get even more slow for the next 2 weeks :P Stampede shuts real estate down!
Im not one to say buy something now before prices go up but, if your like me and feel prices are bound to rise you may want to consider getting in now!

[Criticull]

What could possibly be putting upward pressure on markets? Confidence about the economy has been declining as of late due to contagion fears from the European crisis and shitty indicators coming out of the US. Interest rates can't fall materially further, and the demand for houses was pulled forward to the present by buyers looking to score a deal with leverage. Those first timers and mover uppers got in. There is very little going for real estate. It's not like employment and wage levels are increasing significantly enough to have an impact either. When rates do start to climb, max mortgage amounts go down and the bid will too. IMO.

[Sasuke_Kensai]

I can't remember - was extm88 a realtor? Feels like I'm reading a sales pitch from CREB, but "forumified"

[Tik-Tok]

Originally posted by Sasuke_Kensai
I can't remember - was extm88 a realtor? Feels like I'm reading a sales pitch from CREB, but "forumified"


Yep.

[autosm]

The rush of people getting in under the old rules was the driving factor in this springs upswing. I can see how the market has anywhere but down to go. Lots of stuff for sale around me for 4+ months.

My Re agent says wait 6 months to buy. Prices will stay the same at best.......

[bspot]

Originally posted by extm88

Im not one to say buy something now before prices go up but, if your like me and feel prices are bound to rise you may want to consider getting in now!

If you have no basic understanding of economics, yes, go buy a house now :rofl:

[yourmom]

Here is why. (http://forums.beyond.ca/showthread.php?s=&threadid=301266&perpage=20&pagenumber=3)