The Spring Market

The Spring Market By Theresa Grant Real Estate Columnist With the melting of the snow and the emergence of the birds, like clockwork every year, comes the age-old question; how is the market looking? Well in a nutshell, we don’t quite know. This year, perhaps more than others, it is up in the air. This is due to a few different things. One of course is the American trade war. The uncertainty of what that will mean exactly and how it will play out, has experts and analysts on both sides of the boarder in a bit of a quandary as to what to predict in terms of markets and interest rates. In Durham Region, the housing market has been strong for a while now. First time buyers are making their presence known in a big way. With interest rates in decline in the last several months, home ownership has seen a renewed sense of hope as first-timers scramble to get into the market. The bank of Canada was apparently considering holding the rate in March, according to Tiff Macklem, but due to the impending trade war with the U.S. decide to lower it once again. Does that mean they will continue to lower it? Perhaps they intend to hold it now and take a wait and see approach. Regardless of what the bank of Canada does with the interest rate, people are nervous. The uncertainty of what will happen is casting worry across many sectors. People are preparing to batten down the hatches. Some real estate professionals are wondering how this could affect the cottage market. With more and more people opting for a staycation, keeping their dollars in Canada, perhaps the cottage rental market will see a boon. From coast to coast there are miles of waterfront, and lovely cottages of all sizes and shapes that dot those shorelines. While it is hard to say exactly what will happen, one thing is certain, it is times like these that force people to become more resourceful, more creative, and definitely more independent. I recall something that my uncle used to say all the time when I was a child; This too, shall pass. And so it has been all of my life.