From Financialpost · · 1m
Real estate industry loses faith in housing
Real estate industry doubts housing as investment after decade of falling prices.
In brief
Real estate industry doubts housing as investment after decade of falling prices. Canadian real estate industry believes housing won't be a good investment in 10 years due to falling prices and low sales. Originally reported by Financialpost.
Real estate industry sentiment
Real estate industry sentiment toward homeownership is at its lowest point in 25 years.
Real estate industry leaders
Steve Saretsky, founder of Vancouver-based Saretsky Group, says housing won't be a good investment in 10 years.
Housing prices declining
Canadian home prices fell 1.6% in September from the same month last year, down from $824,192 at peak in 2022.
Sales numbers dropping
Canadian real estate sales fell to 450,000 annualized in Q3, half of 2021 peak sales of 775,000.
Real estate association data
Canadian Real Estate Association represents 155,000 realtors, down from 160,000 a year ago.
Housing investment outlook
Real estate industry believes housing won't beat inflation in 10 years, making it a poor investment.
The short version
Canadian real estate industry believes housing won't be a good investment in 10 years due to falling prices and low sales.
