Not a lot of news to report locally.
Could we be in what Dave calls a ‘flat’ market?
If you’ve got local news, please do post it in the comments below, but in the meanwhile let’s take a look to the east.
From here that means Toronto, where new condo sales are showing the worst August in a decade.
Toronto’s condo market has been a significant source of concern for policy makers in Ottawa in recent years, including at the Finance Department and Bank of Canada. Finance Minister Jim Flaherty expressed concern in 2012 that he felt too many new units were being built, a phenomenon that could ultimately lead to a crash. The Bank of Canada has said that such a crash could pose a threat to the country’s broader economy. Real estate agents say the warnings have been having an impact on the market, by causing some buyers to think twice about getting in.
So wait, what’s the current lack of sales caused by – Too much construction or warnings about too much construction?
Guess it depends on who you ask.