The pandemic has affected the North American real estate market where some unprecedentedly high prices are seen in the market. Now the big question is how long more this trend will last. After all, some believe prices can drop sharply at any moment.
According to Google, many are searching for the answer where search question: “when is the housing market going to crash” has dramatically increased by almost 2.5k percent in the last month.
According to Wall Street Journal Canadian housing market has experienced a bigger price increase compared to the Group of Seven countries. The pandemic has indeed increased the need to stay at home and now low mortgage rates have made housing even more interesting for people. But the increasing home prices have left many Canadians without hope to buy a home.
Some people like Jeff Greene believe the current housing market is a bubble and we may not indefinitely know how long it will last but it will change sooner or later.
