At last this data is finally being compiled and assembled and in Canada real estate purchased may have something objective to work with and make informed decisions. However...
With any product or service in the world (including houses, condos) there are reams of data on trends, competition/competitors, market studies, demographic breakdowns of purchasers (yes, including....what country they are from and/or race! Sigh! Gasp!). This data is necessary in order to understand the consumer, or from a purely investment perspective, whether a business (or a consumer) wants to be in that line before that product or service becomes the next dinosaur or it goes south. As such, consumer/business is able to exit ahead of time or use funds for another purpose all from making an INFORMED decision.
Conversely (and perversely) here in Canada, if I wanted to make an investment hypothesis that if China's GDP decreases in the next year, then what impact would that have on the amount of potential bidders and as such the impact on housing prices here in Canada so I can act accordingly based on my findings? For example, sell now or later?
Good luck! The info cupboard is bare. I'm sure if you entered "Ontario Housing Purchaser Demographics" in Google, the amount of "real" hard data would be the same as entering "Saskatchewan Navy"
Which begs the question, what were compilers of such data doing or avoiding to do before this? If these basic items are being asked for now, what information was available before? If any?
There have been a lot of real estate so called experts on radio and télévision over the years extending the virtues of owning Canadian real estate and claiming the Foreign Purchaser only comprises about 5.0% of transactions. And every word said with a straight face! Well we now know this is an over extended truth (in other words, something that rhymes with "pool kit").
No comments:
Post a Comment