I agree with whippersnapper and insertnamehere. There’s plenty of underlying fundamentals driving the market that have not changed, despite the fact that many think our problems are solved/the boom is over due to rising rates. This is a sign to me that the structural issues which exist will not be sorted out and the interest rate hike is just a bump in the road.
Developers likely see no fundamental changes to the market for current or even future plans, with no zoning reforms, no economic diversification for real estate cash to flow into, and the areas where demand is highest is, at worst, temproarily reconsolidating into urban cores. It’s a boon for Toronto, Hamilton and KW (amongst others) while suburbs and exurbs will perhaps see more dramatic slowdowns (thinkYork region, Milton, etc).
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Steeltowner & Urban Planning Undergrad.
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