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Home sales stay hot in June

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Real Estate Professional | 14 Jul 2015, 11:12 AM Agree 0
Real estate sales in one of Canada’s hottest markets records the second strongest June, according to the latest stats from the British Columbia Real Estate Association.
  • | 14 Jul 2015, 11:36 AM Agree 0
    How come we only ever hear from you about B.C. Alberta, and Toronto. There is a lot more to Canada than those places.
    How about Ottawa and area, the Upper Ottawa Valley, Madawaska Valley Bonnechere River Valley??
    Doris
  • Bonnie | 14 Jul 2015, 11:58 AM Agree 0
    I agree with Doris. Can we include Muskoka, Minden, Haliburton, Orillia, Almaguin Highlands, and Parry Sound please?
  • Jaeden Scott | 14 Jul 2015, 12:17 PM Agree 1
    Maybe Doris and Bonnie, can provide the relevant info, and contribute to REP by writing some articles and stories about market conditions in their respective areas?
  • Blair Armstrong | 14 Jul 2015, 12:17 PM Agree 1
    Thats a GREAT idea Jaeden!
  • Greig | 14 Jul 2015, 05:13 PM Agree 0
    It is not Doris or Bonnie's responsibility to research and write articles for REP. I agree with them both. Providing a wider view of the Canadian Real Estate Market would be beneficial to both readers and the publication.
  • Shirley | 14 Jul 2015, 06:21 PM Agree 0
    And how about Rural Canada. The average home price is not over $500,000. It would be have the stats broken down as the larger centers do not reflect in any way the rest of Canada.
    Shirley
  • Retah Jennings Lalonde | 14 Jul 2015, 09:04 PM Agree 0
    Bonnie and Doris don't need to write articles about their areas. RECO and CREA have all the stats for the these areas and can compile the info the same as they can for the larger urban areas. It would be good to have stats on more than 3 or 4 major cities across the country. That really isn't representational.
  • djd | 23 Jul 2015, 06:08 PM Agree 0
    I agree that many of these articles are aimed largely at the Toronto or Vancouver markets. I get it. There are more readers in those markets. However, there is big risk in being too myopic in our understanding of the broader Canadian market.

    The Canadian residential market may, or may not be in the early stages of a fundamental shift in demand. There is no shortage of opinions in that regard. However, what troubles me is that we are now in a different yet eerily similar market to that of the 1989 housing market correction.

    Prior to the 1989 housing market correction, real estate industry leaders vigourously condemned a number of predictions made by recognized financial analysts and respected financial institutions that predicted significant drops in house prices on Toronto.

    The rationale offered by the real estate industry in 1989 in defense of the Toronto market was that these analysts just didn't get it. They offered in its defense that Toronto was a world class city that was largely immune to the woes of the rest of Canada.

    The unfortunate reality was that we were far from immune. I recall from personal experience that house prices in my neighbourhood of North Toronto dropped by 25% during that correction.

    What happens in the broader Canadian market affects all urban areas including Toronto and Vancouver. Should we not as an industry dedicate more intellectual capital in understanding the real estate trends affecting the broader Canadian housing market?
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