Thanks for the info! It looks like real estate prices have hit bottom (hopefully!). Do you have any predictions for next year?
I have a condo I'm renting out in the deep southwest and it's been falling in value substantially every year since 2014. I paid $500,000 for a large two bedroom/bath in 2014. I tried selling it for a $100,000 loss earlier this year, but no one was interested. I rent it out now until the market comes back and I could hopefully break even.
What do you think about the market for large newer condos in Windemere? Will we see a climb soon?
I didn't know it was possible to even find a renter. Even with no mortgages rental losses are commonplace at the end of each year. Revenue Canada will only allow so many years of rental losses as a tax deduction.Posted by Tony on Wednesday, November 13th, 2019 at 11:02pm