In an article in today's Toronto Star, a BMO economist makes reference to the change in the real estate market and says
"There is no debating that there is now a serious chill in Canada's housing market after a six-year boom," observed Doug Porter, BMO Capital Markets deputy chief economist.
A "serious chill"?
The same article says the average price declined across the country by 0.4% and yet they rose in the GTA by 4%.
If that's a "serious chill", what the heck would they call anything more than that?
Sales are off their peak, that is true. But even the stock market never stays at the peak. They're both *markets* - they rise and fall.
It seems the media fluctuates between market that's burning up or melting down - because anything in the middle would be, well, normal, and therefore not really newsworthy.
So I guess they feel that "serious chill" sounds more media-worthy than something like "normalizing" or "settling" etc.
As you can probably tell from my blog, I'm a cup-half-full kind of person and while I agree the market is off it's peak, I just can't quite swallow that "serious chill" thing.
Sheesh!
1 comment:
I agree. These news people jsut can`t stay objective. Sure, the prices are going down, sure the fluctuations are quite visible compared to last stats, but a chill? All in all, you spoke my heart. I`m and experienced
Toronto realtor and I would never use words like "serious chill". Ever wandered if you could be an objective reporter? :)
Cheers
Julie
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