RE/MAX Condos Plus

We thought we would be the first out with our 2024 RE Market Forecast. Our last Forecast ever! So you don't have to throw bricks!! remaxcondosplus.com/Blog/202…

Last monthly Market Report. See our take on Renting vs. Buying. remaxcondosplus.com/Blog/202…

I have been away from twitter or X for the past couple of months as I contemplate both the medium and my real estate future. I have decided that I have reached my ‘best before’ date. Please watch my video which shares a couple of historic real events.

Watch “JAMIE JOHNSTON” on #Vimeo vimeo.com/882254704?ref=tw-v… The Fifth Quarter or time to move on as I announce my retirement from organized real estate at the end of the year. Be sure to watch the story at the end of the video.

You send this to @oliviachow

Tenants are quick to point out that you cannot discriminate based on income. Is that a human rights violation? What do you call an owner being turned down over income for a mortgage? Human rights or sound business practice by a lender?

Another reason why we have low sales: if an investor has positive cash flow he will just sit. If they sell they pay capital gains tax before they buy another property. We need 'roll over' provisions like they have in the U.S. And we keep hearing how cheap U.S. housing is.

Another reason why RE market is slow: people can't move even if they want to. A friend wanted to upgrade & went to his banker to get pre-approved. He was told you can't move. You could not get approved for your current mortgage on your house either. Now that is 'stress'.

The CRA asked to see supporting receipts for both my wife and myself. Mine went to Sudbury and my wife's went Surrey. Yes, we both live in the same house. Now that's efficiency by our Government.

The myth about average prices. Read our latest Market Report remaxcondosplus.com/Blog/202…

We just posted for a part time job as a receptionist paying $16.50 -17 per hour. We usually hire university students. We had 100+ applicants. Many looking for second jobs. But the BoC wants more people losing their jobs to reach inflation goal.

Tiff says we need more unemployment in this country to get inflation down. When you have government job its kinda hard to relate to people who might lose their job.

Starting my monthly Report, it dawned on me that the area TRREB covers is much larger than a few years ago. No one adjusts for the size change. and hence sales are even worse than we thought. When we forecast annual sales for 2023 will match 2008 we are really in trouble.

June sales on TRREB up 16.5% over June of 2022. Good news or bad? Sales are 16.9% lower than May. My take is bad.

Now we know June sales will be lower than May. We forecast that, but the public is always late to the party. Listings are increasing but sales are down. Prices have already levelled off from May and may well move lower for the balance of the year.

Read our June Market Report. The market is turning again.

As we have stated before, it is not the level of interest rates but 'rate certainty' that drives the sale volumes. remaxcondosplus.com/Blog/202…

If you want to get elected as a politician, the best strategy is not policy but name recognition. Just look at the Toronto Mayoralty race. Sad comment,

Wonder why raising interest rates is a failed strategy? Feds keep running inflationary deficits & keep adding to the carbon tax which increases the cost of all items.