Is Real Estate Crashing?

The blog post discusses the impact of the Bank of Canada's interest rate hikes on the real estate market. The rate increases have caused buyers to hold off on purchasing while some sellers are waiting for prices to rise. However, the blog notes that the Bank of Canada may not need to be so aggressive with the rates, as global factors are also contributing to inflation. The author also suggests that the rate increases could potentially send the real estate market into a downward trend, leading to a recession. The post also touches on the issue of housing affordability and the competition among buyers, which has made it difficult for first-time buyers and the younger generation to enter the market. The author predicts a slight correction in housing prices of 8-10% next year, making it more affordable for new buyers.