Market Update - November 28 24

Currently, lower interest rates and inflation appear to be bolstering the real estate market and the economy. However, what has been stated in this column in prior articles appears to be coming to pass as of January 1, 2025. Many issues will come to bear on our economy from the U.S. but the one that will have an immediate effect is the announcement by Trump that he intends to apply a 25% tariff on all goods and services imported from Canada.

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Economists on both sides of the border agree that these tariffs will hurt the economy of the U.S. and Canada. If our government then decides to apply tariffs on exports to the U.S., no one will buy anything. Inflation and interest rates will rise and carrying costs on property and living expenses will also rise significantly. Hopefully, if U.S. and Canadian citizens and corporations apply enough pressure on the incumbent president, we will avoid a bullet. Many buyers and sellers in Montreal are in a holding pattern to see what comes.

Note that there will always be those who must buy and sell. The only question is how expensive or inexpensive the process will be. We will find out soon, ho ho ho.

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REAL ESTATE TALK & STATE OF THE MARKET