It's very scary out there, isn't it?
I can find compelling, logical analysis that says this thing will turn in a year and that it's a great time to buy (with care)
On the other hand, our very own financial advisor suggests that we sell our own house and hunker down for a decade or so !! He, too, has the "proof" to support his thesis.
The US Secretary of Commerce, VP, and President are all saying variations of "don't know ... we'll screw some stuff up ... but we'll get it eventually"
Right now, a short term prediction beyond "I don't know" is probably either stupid, naive, or dishonest.
Our Toronto-area market started to slow down noticeably last Fall as everyone got nervous.
December and January were dead, but they nearly always are.
January and February (to date) were also affected by weather -- much like they were last year even though the Spring Market ended up doing fine.
To be more confident of the short term market health we will have to wait for March.
Trouble is, a "good" March would really just be "less bad" if you are thinking of selling. By the time you know how good or bad the market is, you may have left money on the table. If you are going to sell, we suggest you do it NOW. The market may not crash, but it isn't going up for a while.
Most people's decision is not that cut and dried. Are you buying AND selling? In this market or another geographic area? And so on. Too complex to go into here, but obviously we would be happy to talk to you.
Whatever you do, consider BOTH the risks and the opportunities. No matter what you think is going to happen, you (and we) are probably wrong ! No offence -- it's just too complicated and "different" to know with confidence. Sorry, but that's the way it is.
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