What is Really Happening in the Housing Market and How May It Affect You Down the Road?

As we head into 2022, I believe our focus should be on training tradespeople, granting more building permits, and leaving the elderly and middle class alone. 

What surprises me is no one is talking about the supply issue, the colliding demographics of the baby boomers and millennials all buying and selling, and the lack of trades that are trained to build what we require. 

We are 10 years behind in building what is required and now we are all grasping to tax people when taxing people is NOT what is going to stop the supply issue. We know we can’t stop Millennials and baby boomers buying, we aren’t prepared to get the building processes expedited and we have no trade schools getting trades people educated and ready to build what is required. 

If I were to predict the future I would safely say we won’t have the supply of inventory for quite a few years and we will have more buyers than we have sellers. Municipalities need to get moving on permits for new builds and begin to figure out how to get some of these young people interested in trades so they can build our future housing.

Here is a great article published on January 10, 2022 from our CEO of Ontario Real Estate Association, Tim Hudak.

If you would like to discuss the current climate of the housing market and how we can help you find the right home for you, please contact me here.

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