Welcome to a new episode of the Real Estate Podcast with me, Nico James-Bock, a Broker with Royal LePage Signature Realty in Downtown Toronto. Today is another big day in Real Estate as there are 2 events taking place today that will help determine the balance of the year and beyond.
July 12th Events
1. BoC Rate Announcement
2. Swearing-in of a new mayor of Toronto: Olivia Chow
Seven Factors Driving Today's Real Estate Market
1. Cost of Ownership
2. Job Security
3. Population Growth
4. Supply
5. Regulatory Changes
6. Global Factors
7. Replacement Cost vs Market Value
Prices are still trending upwards. We will continue to see the inflation dance as the powers that be try and wrestle it downwards. There isn’t anything we can do regarding interest rates and some of the other factors affecting value. We live our lives and make decisions that are best for us now and adjust those decisions as circumstances change. If you don’t have to move, stay put. First-time buyers, upsizers, downsizers, and most renters can and should take advantage of opportunities in the resale, assignment and pre-construction markets now!
As for existing homeowners and investors, patience continues to be profitable, and will likely do so for many years to come.
Helping YOU Build Wealth Through #RealEstate #BrickByBrick
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Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
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