Now that consensus has finally figured out this is no longer a case of pent-up demand, but rather a new bull market, people are looking for someone to blame. As I mentioned in last months report, this was a housing boom manufactured in Ottawa. Ironically, in a recent media interview, former Bank of Canada governor Stephen Poloz, admitted the recent housing boom was an intended consequence. “If the side-effect is a hot housing market, that’s one I’ll take every day.” – Poloz responded when asked about the extreme monetary policy measures taken at the onset of the pandemic. Adding, “It’s hot, and we could see signs of speculation, but we have to accept that because otherwise we would have a really, really bad recession.”
Steve is a regular speaker at industry events, hosts an online video series ‘The Saretsky Show’, and authors the popular “Saretsky Report” which is read by over 7000 subscribers.
Want to book Steve for a talk at your event or conference? Get started below.
The views expressed are those of the author, Steve Saretsky, an Oakwyn Realty REALTOR®, and do not necessarily reflect those of Oakwyn Realty. It is provided as a general source of information only and should not be considered personal investment advice or a solicitation.