Wednesday, November 8, 2017

Toronto housing listings zoom up

A very confused chart.  As around our place, lots of places for sale, but no sales.  As I predicted, the slight uptick in prices caused a huge entry into the market.  If you take the average price and multiply by sales you can see there is no money in the market.  In the next month or two, the forced sales will drive down the price.  Condos have a little tick up, but not much.  They probably also have a big rise in listings.  Condos will also drop with forced sales as everybody will be caught with two houses.

ps.  I predicted all this last November when the Chinese hot money died.  However, I thought it would have unfolded a bit faster.  It will really dive now because of the Paradise Papers and such which will cause more hot money to withdraw.

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