Posted by kevindeng0727 on 2nd of Jan 2023 at 04:03 pm
My observation is the impact so far is uneven on different types
of properties: some significant pressure on detached houses in the
2-4M range (probably the 6% mortgage rate is killing lots of
demand). The other weak area is condos in Downtown, they just never
fully came back after covid, and this year the government tightened
foreign buyers policy even more. There were lots of international
students buying condos now they are shut down from the market.
Other areas still appear pretty strong, like townhouses and smaller
houses below 2M. At least so far I do not see too much pressure
yet.
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My observation is the impact
John Roque (used to be a market technician for Soros ...
Posted by kevindeng0727 on 2nd of Jan 2023 at 04:03 pm
My observation is the impact so far is uneven on different types of properties: some significant pressure on detached houses in the 2-4M range (probably the 6% mortgage rate is killing lots of demand). The other weak area is condos in Downtown, they just never fully came back after covid, and this year the government tightened foreign buyers policy even more. There were lots of international students buying condos now they are shut down from the market. Other areas still appear pretty strong, like townhouses and smaller houses below 2M. At least so far I do not see too much pressure yet.