Why are houses for sale if they only go up? better to hold forever?
i get it not everyone can afford to buy a new house without selling their old one, but with all the rich people in GTA (pretty much most people are rich), and all the investors (rich people/investors are the ones who are the ones buying houses) how are there even houses for sale? it should be a very limited market. The (poor) person who sold their home (to an investor) so they could upgrade, sold there home to someone who is (smart) and will never ever ever ever sell. It has been completely removed from the resale market/inventory.
These rich people/investors know real estate only goes up. And its good cash flow. They don't sell. When they buy they hold forever, so how has it not gotten to the point there are only 100-200 houses for sale in all of GTA if most people are rich/investors? My boss at work has 100 houses in Hamilton and says he will never sell one. He will pass them onto his kids for cash flow so they never have to work if they dont want. Im sure hes not the only one with this mindset. Those 100 houses will NEVER be for sale. Completely forever removed from future resale home inventory