This is a prime example of what I have been saying for years. The Royal Bank has done a 180 degree turn. That housing bubble they were calling for in Toronto just last month is off the board. Now everything looks fine and Toronto buyers should have no problem absorbing that entire new condo inventory coming on line in the next few years. Don't worry the report on Vancouver is on the way too. This is a classic example of why you should never listen to the short-term speculation about real estate markets and always focus on the long-term values of owning a home. What prices do in the short term don't matter - it's your home. You're not a speculator or gambler, it's where you and your family live. Stay focused on the 3 criteria you should have to buy a home (take 20 min and watch some of my other videos on this topic) and it will become one of the best decisions you have ever made. Sure prices will take a dip from time to time but when you look at real estate prices over a 20 to 30 year horizon they have always trended up. Don't worry, a few weeks from now another report will come out saying Toronto and Vancouver are back in bubble mode. This flip-flop - one day things are dark the next sunny; is normal and has been going on for as long as I can remember. The smart people tune this stuff out stay the course by thinking LONG TERM and prosper!
This entry was posted on August 23rd, 2012 by Owen Bigland | Posted in Video Blog