House Prices May Have Hit the Top - G&M Article
According to an article in today's Globe and Mail Newspaper, real estate prices may have hit the top. Personally I find these articles trifling. I guess the newspaper is doing its job by reporting the statistics but over the past 10 years it's been continually reported that real estate prices are too high and are expected to go down. And although they did go down, it was only for a short time period and they've recovered since. Ironically, when they did go down, many of the people waiting "for prices to go down" never bought in because it was just too scary to be the one jumping in when everyone else was getting out. What we know for sure is that time will tell where prices will go. But in the meantime, the real estate cycle continues and always will because people's lives inevitably change. People get grow up and out of their parents house. They get married or have kids. Or the kids leave and the house becomes too big. There are always reasons for people to be buying and selling real estate, regardless of whether the prices are going up or down. Click here to read the full article in the G&M.