Quote:
Originally Posted by whatnext
Of course hindsight is 20/20 but a hotel would have helped spread out the risk. From what I can tell going back construction didn’t start until 2018 and by then the clampdown on foreign buyers was two years old. They should have seen the result coming.
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But the clampdown on foreign buyers isn't what's (mainly) responsible for the current market slowdown.
It's a part of it, .....sure,....but the effects might seem a tad overblown.
As far back as then or 2019 it became clear that the remedies that were being instituted at the time like foreign buyers clampdown and the empty homes tax were having impact but more on the minimal side rather than the paradigm-shifting change many hoped for.
The current market slowdown has more to do with what came after both in the immediate aftermath (specifically the pandemic and lockdown, and the global inflation crisis that followed), as well as the more recent events that have exacerbated it and accelerated the slowdown (pun not intended).
Specifically the impact of this most recent tariff war and the worsening of Inflation, and the spike in interest rates.
I mean,...sure the overall market was already over-leveraged and over-valued by that point and due for a correction, but back in 2018, nobody could have foreseen any of the things I've mentioned happening since then - starting with the pandemic in '20 and everything that's followed since,...right up until a 2nd Trump term 4 years later, and all that that's entailed as far as Canada-US trade relations are concerned (certainly not THAT given what 2020 was) - and all the after-effects that have followed.
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