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Old 11-26-2008, 07:34 PM
bullish bullish is offline
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Join Date: Jul 2008
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Quote:
Originally Posted by Canadian View Post
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.
Let's wait for the full November numbers before making any conclusions. I'm sure the numbers will be better compared to the first haf of the month.
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