Canadian hype is driving the real estate market. It is just unfounded.
The real estate market is being driven right now by unfounded hype as most Canadians rally around Canada’s “tariff for tariff, dollar for dollar” strike on the US. What Canadians are seemingly missing is that the US is still out there making other deals, like the recently announced deal for 65 billion barrels of Venezuelan oil. Such a deal ultimately means that the US, Canada’s biggest oil buyer, will have less reliance on Canadian oil, if any at all. The US is clearly looking for new suppliers to replace Canada.
In all, 21 countries have signed new trade deals with the US, and not one has wavered from that commitment. As this begins to sink in, it will undermine economic certainty and could lead to dark days ahead for the real estate market.
Now is the time to consider selling to capitalize on the existing hype for Canada, because it just won’t last.
As Dr. Sylvain Charlebois has put it best:
“The term “trade war” serves a political purpose, but this is not a trade war. Canada’s dollar-for-dollar retaliation against the world’s largest economy will eventually run out of road. What we are witnessing is a fundamental shift in U.S. foreign and trade policy—and 21 countries have already signed agreements accepting that new reality.
Prime Minister Carney may be extremely popular internationally, but Canada remains largely alone. If other countries truly believed Canada’s approach was the right one, they would be standing with us, and not just with words.”
Read the history of these events here:
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E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.
View all current and past Palace Place listings for sale here.