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(Yahoo)   You probably didn't hear, but Canadian home prices dropped again. Sorry, homeowners   (finance.yahoo.com) divider line
    More: Followup, Central bank, Real estate, Monetary policy, Canadian home prices, Canada, housing market, Bank of England, Canadian dollar  
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373 clicks; posted to Business » on 15 Sep 2022 at 1:35 PM (19 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



12 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-09-15 1:48:09 PM  
As someone who doesn't own a house and would like to buy one..... burn, baby burn!
 
2022-09-15 1:56:28 PM  
that's terrible news for my girlfriend...that you guys wouldn't know
 
2022-09-15 1:58:39 PM  

trialpha: As someone who doesn't own a house and would like to buy one..... burn, baby burn!


Agreed, the prices everywhere are out of reach for people wanting to get into the market
 
2022-09-15 2:02:42 PM  
They haven't dropped anywhere near enough.
 
2022-09-15 2:38:14 PM  
Nothing wrong with home prices dropping unless your trying to sell. Otherwise, it's just a tax break.
 
2022-09-15 2:39:19 PM  

Tyrone Slothrop: Nothing wrong with home prices dropping unless you're trying to sell. Otherwise, it's just a tax break.


bleh
 
2022-09-15 3:56:48 PM  
I like subby's assumption that all homeowners are always looking to sell.

I wish I owned a home. Wtf would I care if it's appraised value dropped? It's home, not a stock holding.
 
2022-09-15 6:18:48 PM  
That brings the cumulative drop from February's peak to 7.4%.

Wake me when it's down 20%.  I'm guessing mid to late 2023 it will get there.
 
2022-09-15 9:17:24 PM  
NateAsbestos

I like subby's assumption that all homeowners are always looking to sell.

I wish I owned a home. Wtf would I care if it's appraised value dropped? It's home, not a stock holding.


This.

I built myself a house in 2015, no intention of ever selling it. I don't care what's it's worth, I have a home in a place I truly want to live. Can pay mortgage with a paper route, and the place is insanely energy efficient so it's cheap to run. Let the values drop, lower property taxes.
 
2022-09-16 7:20:33 AM  
And congratulations home buyers!
 
2022-09-16 1:32:09 PM  
As a Canadian home owner, I'm totally fine / happy about this. What do I care? I'm not looking to sell until I retire.  Though I know my property taxes won't go down. There will be some excuse and they're only evaluated every two years anyway.

As somebody taking out a $700k loan in a couple of weeks (to buy a business, not a property), I wouldn't mind the interest rate coming back down though. That's going to be rough until it's not. Inflation is real, yo.
 
2022-09-16 5:03:25 PM  

D135: That brings the cumulative drop from February's peak to 7.4%.

Wake me when it's down 20%.  I'm guessing mid to late 2023 it will get there.


Nevermind, we are already down over 20%

Real estate slowdown continues, with average price down 22% since February

https://www.google.com/amp/s/www.cbc.ca/amp/1.6583733

And we will likely see further price drops as Canada and the US keep hiking rates into 2023.
 
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