Thank you for all the messages checking on me to see what the heck happened because I haven’t uploaded a video for a month. I really appreciate that!
I think I have never skipped a week over the past few years.
So I attended the Forma launch event in Hong Kong and after that I decided to take some time off to truly enjoy Hong Kong with my family and friends.
I think it’s important for us to pause and appreciate what we have in life.
Now I’m back home in Toronto and I’m ready to connect with you again with more videos.
The Toronto real estate market has been pretty much flat for a couple months already.
The signs may suggest that prices are bottoming out.
The official November market watch report will be coming out in just a few days, so I will be giving you a more in depth update with statistics next week.
There will be another rate hike by the Bank of Canada coming up on December 7.
It could be either 25 or 50 basis points.
Markets are anticipating that the Bank of Canada will take a pause on rate hikes after this one, step to the sidelines in 2023 and observe how our economy is coping with the higher interest rates.
So far, the Canadian economy grew faster than expected in the third quarter of 2022.
The Bank of Canada forecasted a 1.5% GDP for the third quarter.
The actual growth?
2.9%, well ahead of the forecast.
In terms of inflation, it is still high at 6.9%.
Cash is no doubt depreciating fast.
On the immigration side of things, our government has once again raised the ambitious targets to new levels.
We will be expecting almost 500,000 newcomers every year for the next 3 years.
You see, there are many signs pointing to a booming housing market.
But it won’t happen just yet.
Because 80% of the people are focusing on the current fear, everyone is talking about a recession.
If you are the 20% though, 2023 will be a year full of opportunities.
Let’s talk about all that in future episodes, stay tuned!
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