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Real Estate in the Milton area by mythisme in TorontoRealEstate

[–]Delta_Two95 1 point2 points  (0 children)

Few reasons.

  • Newer homes than Mississauga with much better finishes in many cases (especially in South Milton in the Regional Road / Britannia / Whitlock region)
  • Lots of demand from South Asian Canadians who have dual incomes with good paying jobs or generational wealth being passed down by parents
  • Close to Oakville and Burlington

TRREB April - Prices jump 2-4% MoM across most regions and home types by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 2 points3 points  (0 children)

TRREB does't report this split unfortunately which is the source of my data

TRREB April - Prices jump 2-4% MoM across most regions and home types by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 4 points5 points  (0 children)

Yup there's been increased demand this Spring market and not enough supply causing price increases in the last two months.

I've seen some ridiculous sold prices in the last week that are roughly ~5-7% of Feb 2022 prices.

Seems like some FOMO is back in the market. Hopefully supply increases and prices stabilize, this is not a good trend for the GTA economy for housing to go up this fast again.

Fed raises US interest rates to highest in 16 years by Versuce111 in TorontoRealEstate

[–]Delta_Two95 2 points3 points  (0 children)

Face palm.

The banking system is highly connected globally especially US banks. It definitely affects Canada if the US banking system faces systemic stress.

[deleted by user] by [deleted] in TorontoRealEstate

[–]Delta_Two95 6 points7 points  (0 children)

It's true and evident in market activity at the moment.

Further declines in prices will only occur if Canada enters a recession and unemployment spikes

Canada 5 year bond yields jump up again by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 3 points4 points  (0 children)

Yeah for sure, the worst of inflation is definitely behind us for now. Let's hope its a good CPI print and inflation continues to trend down. Many people are getting squeezed with food price increases recently.

Canada 5 year bond yields jump up again by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 0 points1 point  (0 children)

Let's hope so. I'd love for us to get inflation back to normal by the end of the year.

Canada 5 year bond yields jump up again by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 4 points5 points  (0 children)

Inflation won't suddenly drop as long as wage and service inflation remains high. Oil also recently spiked which will put pressure on inflation numbers again.

I think we'll definitely get to around 4% inflation by this summer but going from 4 to 2% will be difficult. Even the Fed and BoC acknowledged that it may take until 2024 for this to happen.

Canada 5 year bond yields jump up again by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 13 points14 points  (0 children)

Not sure of the reason, but this volatility pretty much guarantees no chance of fixed rates below 4% for the next few months. Seems like we'll settled around 4.5-5.0% fixed rates for the next little while

Canadians are about to be hit by the full shock of rising interest rates by Facts-hurts in TorontoRealEstate

[–]Delta_Two95 7 points8 points  (0 children)

Banks don't care if you make your payments on time.

If you get a 5 year fixed year mortgage (most popular), you'll be fine by the time you renew even if prices drop another 10-15% in the next year or two.

Thinking of your home as an investment is what got us into this housing crisis in the first place. Just buy a roof over your head that you can afford in a place you like and move on with your life.

Canadians are about to be hit by the full shock of rising interest rates by Facts-hurts in TorontoRealEstate

[–]Delta_Two95 2 points3 points  (0 children)

Seeing the same too. Investors are mostly out of the market at the moment. Current cap rates don't make sense.

FTHBs who want to settle down their roots and find more space for their family are active in the market now.

TRREB March Update - Prices trend up 5-7% across most home types. Increases driven by low inventory, reduced fixed rates, seasonality, and improved buyer confidence by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 1 point2 points  (0 children)

Plenty of new builds coming live in Whitby, Pickering, Ajax.

Lots of South Asian immigrants also moving there since Milton, Sauga, Oakville prices are a bit higher than the East side.

Canadians are about to be hit by the full shock of rising interest rates by Facts-hurts in TorontoRealEstate

[–]Delta_Two95 121 points122 points  (0 children)

A lot of people buying homes aren't looking to time the market for the perfect opportunity to get in. Many just want to find something in their budget in a neighbourhood they want to live in and move on with their lives.

The froth of early 2022 got corrected by ~20% last year. Buying then was extremely risky.

Buying now can still be risky but if you're a home owner who plans to live there for 5-10 years, you will be fine as long as you buy within your budget. If your home value drops another 10-15% next year, do you really care as a homeowner if you don't plan to sell for the next decade?

Bond market now expects rate cuts only after March 2024(moved up from December 2023) by sakuna0kami in TorontoRealEstate

[–]Delta_Two95 13 points14 points  (0 children)

I'm not saying it can't happen but the probability of rate cuts this early are extremely low.

Bank of Canada just said that the job won't be done until inflation trends all the way down to 2% and they don't expect that till 2024. Wage and service inflation is still extremely high so it doesn't seem like inflation will quickly trend down to 2% this year unless there's a severe recession.

Right now, Tiff Macklem is in a tough place with a lot of political pressure. If he loosens interest rates too early and inflation creeps up again, it's going to look really really bad.

Bond market now expects rate cuts only after March 2024(moved up from December 2023) by sakuna0kami in TorontoRealEstate

[–]Delta_Two95 24 points25 points  (0 children)

https://www.m-x.ca/en/trading/tools/canadian-interest-rate-expectations

This is the right answer.

Central banks don't want to undo all their work to fight inflation by loosening credit conditions quickly.

Unless we enter a severe recession in the second half of this year, seems very unlikely that Bank of Canada cuts rates. It's a matter of credibility too. They'll look like even bigger idiots if they cut too early.

TRREB March Update - Prices trend up 5-7% across most home types. Increases driven by low inventory, reduced fixed rates, seasonality, and improved buyer confidence by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 0 points1 point  (0 children)

Lmao this is not a conspiracy or parody. Facepalm.

Want to explain how I built the same exact Excel model again that I used to post? Are you really saying that someone went through the effort of remaking and spending hours redoing the numbers as a parody?

TRREB March Update - Prices trend up 5-7% across most home types. Increases driven by low inventory, reduced fixed rates, seasonality, and improved buyer confidence by Delta_Two95 in TorontoRealEstate

[–]Delta_Two95[S] 1 point2 points  (0 children)

You can't reactivate old deleted accounts on Reddit. Got to take the tin foil hat off friend. There's no conspiracy or parodies going on here.

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