Confession and Prediction – “I am a realtor and ex-banker. I’ll go on record to say that this is just the beginning of a long awaited decline in our real estate market.”

carlk via comment on VREAA 8 Aug 2010 6:58am“I’ll go on record to say that this is just the beginning of a long awaited decline in our real estate market which should have taken place in 2008 onwards but was resuscitated by record low lending rates as Canada’s economic “stimulus”. Personally, I am estimating 3-4 years of a declining market ahead. It is what it is and I have done what I can for my clients to forewarn them of this upcoming prolonged decline in my e-newsletters to them. I am a realtor and ex-banker for the record.”

2 responses to “Confession and Prediction – “I am a realtor and ex-banker. I’ll go on record to say that this is just the beginning of a long awaited decline in our real estate market.”

  1. If RE agents can’t get anyone to pay full pop, maybe they can scare some of the fence sitters into finally dropping their prices and hitting the bid once and for all. Hey, this is what any reputable agent or financial adviser would do, right? With sales volumes plummeting in June and July, who can blame them? Someone’s got to pay for their big mortgages, auto lease payments, club memberships and Canali suits etc. Hey, it is what it is…

  2. Something strange is happening at work. I have noticed RE talk isn’t as popular a topic as it had been, or maybe it is that when I am around no one wants to mention RE for I have been questioning all who have said that they were/are/did buy a place over the last year or so…. I gave them the full head on bubble talk and the are you sure you want to be doing that? With the usual replies of … everyone wants to live here, lack of land, buy now priced out forever…. ETC…. Very strange how quite the RE talk is now.

    The things that are going to truely hurt these people is the reality of how much money they now owe in real dollars, and it gets worse when you add in the leased vehicles, heloc toys, reno’s … (add your own poison)….

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