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Old 11-24-2008, 04:14 PM
Canadian Canadian is offline
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Quote:
Originally Posted by bullish View Post
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.
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.
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