m city condos 5 for sale.House prices are falling in many cities in Canada. There has been a shrinking trend in real estate prices in many cities in Canada, and even Vancouver, which was heavily traded in the past, has not been spared, and some economists predict that house prices may fall by 15% in the next two or three years.Please Visit: m city condos 5 for sale to Get Your VVIP Registration Today!
Some people think that the decline in house prices is not necessarily a bad thing, it can reduce the burden on first buyers, and the profits of existing homeowners are still considerable. At the same time, it also allows foreign speculators to leave the market, prompting the Canadian housing market to return to normal.
Statistics show that half of Canada’s real estate buyers are first-time buyers, and their influence on the real estate market is not to be underestimated. Some experts believe that the decline in house prices is not necessarily a bad thing, and the burden is expected to be reduced for first-time buyers, because the fall in house prices has made it possible for more young people to afford to buy houses. They first buy apartments or urban houses at lower prices, and then, as their income and family members increase, they switch to independent houses a few years later, changing hands with retirees who want to “exchange big houses for small houses” to invigorate the housing market.
Some people think that the decline in house prices can reduce the burden on first-buyers and let speculators leave the market, but the average Chinese “wage earners” who are interested in buying homes think that the decline in house prices is not obvious. Coupled with the tightening of housing loans by the government, the burden on first-buyers has increased rather than reduced. It is even more unrealistic to expect speculators to leave the market.
Mr. Bennaby Chen is a “wage earner”. Immigrants have been renting houses so far, and although they also want to join the “Chao family”, housing prices have skyrocketed in recent years, and wage earners like him can only “look at the house and sigh.” Despite the recent breeze in the housing market, he does not feel that house prices are falling at all. He said that a friend wanted to sell his small apartment in November last year, and his broker suggested that he could list with 300000 yuan. later, because he was too busy, it took him half a year to take real action. recently, he just closed a transaction with 290000 yuan, indicating a small drop in house prices.
He believes that it may be that some of the high-priced luxury homes that soared last year are weak and their prices have fallen, but such products cannot be bought by salaried first-time buyers, and it is useless for him to fall any more.
Some people say that the recent drop in house prices will reduce the burden on first-time buyers, but Mr. Chen believes that the opposite is true. Due to the very limited decline in low-cost properties such as apartments, and the government’s tightening of housing loans, the loan ratio has been reduced and the repayment period has been reduced from 30 years to 25 years. On the contrary, the monthly burden of first-buyers who need loans increases.
A few years ago, Mrs. Zhang of Chinese descent spent more than 500,000 yuan on an old house covering an area of more than 10,000 square feet in Richmond. At the beginning of the year before last, her next-door neighbor sold the house of the same year for 750000 yuan. She joked to a friend who worked as a real estate agent that if someone offered 800000 yuan, she would sell the house.
At that time, the other party just said faintly that it might be a little difficult. Unexpectedly, a few months later, this friend really called and said that a client was willing to buy a house from her for 800000 yuan, which made her quite moved. Finally, she gave up considering that the two children studying in middle school were going to transfer to another school. At the beginning of last year, a real estate agent rang the doorbell and asked her if she was interested in selling the house, and the asking price was higher and higher each time, soaring from 900000 yuan to more than 1 million yuan in just a few months.
But no real estate agents have knocked on the door this year, and it is clear that the market is much lighter. Even if the house price dropped slightly, it was much higher than the original purchase price, which made her very happy, but she couldn’t help worrying about how the two children could afford to buy a house when they left society.