Many people are wondering if the US election will have an effect on the Canadian housing market.
Here is an article by The Globe and Mail.
The Reality is that regardless of whether we want it to have an effect or not, it will. The question should not be IF it will have an effect, but what effect will it have?
In the past, there tended to be a temporary slowing of any transactions for a brief period. US citizens do not want to risk investing money in a foreign market when they do not know how their own market will react.
The coming 2016 election is going to be particularly interesting, and I don’t think there is any way to predict what will happen. The market could slow down for months, or it could continue at it’s current pace.
As it stands, the inventory in Victoria is extremely low. The lowest it has been in years. Which means that house prices are extremely inflated.
When will prices fall?
No one can answer that question.