Yes. Amongst many other socially destabilizing objectives. But yes.

Lots of immigration during the early 90s and home prices still cratered.

No it’s not. They literally defined the technical term for a crash, and used it. It couldn’t be less inflammatory, because they’re using financial terms Realtors don’t even know.

You want them to hire a journalist to cover a market where it’s boom is half the size of Toronto’s slowest sales in decades?

I believe you can find them on most RE Brokerage sites and listed freely in the Yellow Pages 😉

Fed just went 75bps – we’re in for a bit of a hurt with currency related inflation + wages due to labour shortages. We had a guy headhunted for a position for QC and his company offered him a better option when they hear he was resigning. That’s how to get a raise – resign LOL.

Companies are so badly managed – brain drain will be real in 2023-2025. I’m looking at work in Cali as I type this. I’ll take my chances with a maybe earthquake and constant forest fires over ON Politics.

So, while it’s unfortunate for those who bought in the last few years, realtors/boards need to not call the drop a disaster. The disaster was all the people suckered into taking on unrepayable debt because they believed the FOMO/”real estate always goes up”/”can’t lose” narrative. And now having set a fake new high water mark, govts/politicians/BoC will expect taxpayers to support it.

That’s the part that really makes me furious, and ready to leave Canada — to avoid the massive tax increases & higher cost of living that will be needed to keep real estate speculators from bankruptcy by propping up house prices to these unrealistic levels.