With the recent downfall in the US market do you guys believe us Canadian will get hit as well? I know that some builders now are not selling like they used to, but are prices going to decrease significantly from here? I would say the Toronto condo market is over valued but what about other areas?

Dan

 

I think my fellow Calgarians would agree that the prices here are a little crazy. I moved to Calgary 3 years ago from a small town in Ontario (Brockville) and the difference in prices is amazing. I think the people that are hurt the most are the ones who arn't in the market yet (like myself). I'm lucky enough to have a great place to live but I do want to buy in the near future and havn't quite figured out how I'll afford it.

 

We are in for a market correction.....NO DOUBT..... Prices in the GTA are ridicules.

 

Subscribed.

 

Market is still good in Ontario.

 

the market is due for a correction very soon.

 

Lower Mainland in BC is a special circumstance. Esp in the Sea to Sky area, with the Olympics coming we're expecting the numbers to keep on climbing.

 

No. There will be a slow-down in Canada because our economies are linked, but we wont see much of a drop in the RE market. The Canadian and US RE markets are fundamentally different, driven by factors from tax policy, to investor makeup, to product offers.

 

I don't see a correction coming because interest rates are low and falling, you can now get 40 year mortgages, sub-prime mortgages are not a problem here, and the Canadian dollar has higher buying power for imported goods. All of which does not signal a correction.

That said I think things will slow-down as speculators get out of the market, especially out west. But I would be expecting real estate appreciation close to the rate of inflation.

 

what do you guys think about commercial real estate? do you think cap rate will go up?

 

I think that the growth in Vancouver is slowing down a bit, but still going up faster then most area's in Canada.

 

(suburban areas around) Detroit is one of the hardest hit US areas. i'm no analyst but anyone know how Windsor has been doing lately? could that even be predictive of Canada real estate in general?

 

I don't think Windsor would be indicative of the Canadian market as a whole due to its dependence on one main industry.

 

Burlington/Oakville/Ancater/Waterdown & Milton are still booming. Prices have never been higher.

 

alberta is still very expensive