Nico here providing an overview of the real estate market as it stands right now, highlighting the division between condo and freehold markets and the impact of historically low interest rates and recent interest rate changes. I also discuss the current economic situation, advising against making permanent decisions in temporary situations and encouraging people to consider all options before making a decision. Lastly, I differentiated between the freehold and condo markets, predicting that the condo market will remain soft for the next year and a half before prices increase significantly in 2026-2028.
Key Takeaways
1. Potential homebuyers to consider purchasing freehold properties now, as prices are expected to increase in the spring, summer, and fall markets of 2025.
2. Condo buyers to take advantage of the current soft market conditions over the next 1-1.5 years before prices potentially increase significantly from 2026 onwards.
3. Current condo owners to hold onto their properties and consider renting them out if not a primary residence.
4. Condo owners considering selling to wait until 2026-2028 for potentially higher prices.
5. All real estate investors to stay informed about the upcoming Bank of Canada announcement on March 12th.
6. Prospective buyers to explore opportunities in the $1.05-1.25 million range, taking advantage of the new CMHC high-ratio mortgage limits.
7. All individuals involved in real estate decisions to consult with professionals (real estate agents, mortgage brokers, financial advisors, bank managers) before making major decisions.
YouTube Video - A Tale of 2 Markets Condo vs Castle (Freehold)
Ciao ciao
Helping you increase wealth through #realestate
Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
The Clay Travis and Buck Sexton Show
The Clay Travis and Buck Sexton Show. Clay Travis and Buck Sexton tackle the biggest stories in news, politics and current events with intelligence and humor. From the border crisis, to the madness of cancel culture and far-left missteps, Clay and Buck guide listeners through the latest headlines and hot topics with fun and entertaining conversations and opinions.