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melting

Friday August 12, 2022

August 12, 2022 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday August 12, 2022

Cooler market helps housing consumers

You may have noticed the house around the corner with the For Sale sign planted on its lawn.

You may have noticed that the house didn’t sell in its first week on the market. Or week two. Three weeks have now passed, and there it still sits. Is it just because it’s summer? Or is it something else? It’s something else.

January 27, 2022

The correction in the housing market has arrived, as the latest numbers released by various housing groups show. The slowdown is more rapid and dramatic than most predicted. Days on the market are growing; active listings are up.

The most recent housing market forecast from the Royal Bank is predicting a national slump in resales outpacing previous peak-to-trough declines, as the bank phrases it, comparing its predictions of what lies ahead to, say, 1981-’82, or 2008-’09.

As the slowdown in the national housing market gained momentum last month, the average selling price of a home touched $665,850 — a decline of almost 20 per cent since February. Average selling prices have declined each month since February 2022, and are down by 1.8 per cent compared to what they were a year ago.

Posted in: Canada, Ontario Tagged: 2022-26, bubble, Canada, home, House, housing, melting, Ontario, real estate

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Please note…

This website contains satirical commentaries of current events going back several decades. Some readers may not share this sense of humour nor the opinions expressed by the artist. To understand editorial cartoons it is important to understand their effectiveness as a counterweight to power. It is presumed readers approach satire with a broad minded foundation and healthy knowledge of objective facts of the subjects depicted.

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