It’s no wonder Canadians are suffering from forecast fatigue
For the last six years, Canadians have been plagued by constant predictions of a housing crash coupled with dire warnings that homes are overvalued by 21% to 35%—and yet, year after year housing prices keep going up, as we show below. Take last year, when prices increased by 6%, despite the Bank of Canada forecasting a possible 30% market correction. Or go back to 2010, when prices increased by 6.8%, despite the Economist predicting a potential 25% correction. All of this is enough to give anyone forecast fatigue—but homeowners in it for the long haul really won’t be impacted by the last few years of rapid appreciation or an impending correction. Instead, just focus on prudently paying off your mortgage.
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"Jamie Ostby, thank you so much for your help with the sale of our home in Shawnessy. It was very helpful to have you meet with us at our home at times that were convenient for us to go over marketing strategies, pricing, timing of the sale and more. You did a fantastic job of moderating the market conditions, which were on the downturn at the time, to get our home sold at the right price and with a possession time that fit with the purchase of the new home in Auburn Bay!"