Quote:
Originally Posted by bullish
The November 2008 prices are down less than 8% versus November 2007, while October 2008 was down 13% compared to October 2007. I think this is a sign that the prices are stabilizing and they'll start rising from here.
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Yeah, right! Prices are far from stabilizing when sales are down in half. In fact prices have to come down a lot, in order to offset the crashing demand. Let's face it - if sales in Toronto real estate are down 50%, then nobody is willing to buy a house at this bubble levels. It's very simple supply and demand equation. If there is no demand or demand is falling drastically, then prices fall.