Can you show me, or antidotally describe any Real Estate in Durham, that went up that amount? You realize 300% and 400% is a "4 and 5 " X fold on your moneyDealHunter100 wrote: ↑Feb 1st, 2018 10:26 pmWhere do you see detached for 500K.. downtown Oshawa? You could not buy new Townhouse in Oshawa for that. Maybe older properties require alot of work.
Last Jan you could buy 4 bedroom detached for 700K and you can now depending on location and other variables.. Houses are not all the same.
From 2009 real estate is up 300 to 400% and this is normal cycle, all Im saying smart people buy when the market is down.
Real estate is long term investment and I dont see prices going down.
Established people with large home in Durham wont sell their homes for 20% less now and move to rent. they will buy more . That is what smart people do..
You are exaggerating that RE went up 5X in Durham since 2009 and this is " normal cycle".
Toronto average detach didn't even do that since 2009.
You realize that house value is based on comparable sold.. established people may not move, but someone is always selling and this is what lowers prices.
IN fact, plenty are for sale right now, the market GTA wide is being flooded with inventory compared to last year.
Even if listings were really, really low, I will tell you who will always have to sell:
My agent deals with only these sales and trust me, she does more sales than average realtor. ( in durham too)