In the end, this is likely a positive thing as far as inflation is concerned, but that doesnt mean it comes without a little pain. See: 3 Things . The reasons for the bleak prediction for Canada's housing market include worse statistics so far this year and more active monetary policy than originally expected, which has resulted in increased mortgage borrowing prices. Investors seeking to buy up a few properties once prices drop should start maximizing their savings now. The Federal Reserve will likely increase rates to combat inflation if inflation continues to rise. ", "10 Common Rental Property Repairs Landlords Need to Know About [Infographic]. Hang in there. Here are what other organizations and firms are predicting: Glenn Kelman, CEO of Redfin, predicted on a Jan. 4 episode of Barrons Live that the real estate market, particularly when it comes to real estate agents, will experience a painful constriction in 2023. Or if its little more meaningful declines, a 10% decline, take advantage of those because 10 years from now youll see much better conditions.. Lets take them into consideration before we review the cities which have been hit the hardest. Additionally, when the economy is in a recession, people may be more cautious about making large financial investments, such as buying a home, which can also contribute to a decrease in home prices. <
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