What will happen with the real estate market in 2022?
It was Yogi Berra who said, “I don’t like to make predictions, especially about the future”. This will be the theme of this year’s real estate market predictions movie. Nobody really knows where this current market will end up with the current COVID situation. Will Omicron be the last gasp of the virus as it fades?
In this movie about predicting where the real estate market will head in 2022, we show you the inner workings as well as the algorythms we used to know for sure where the market will take us this year.
Will personal taxes and capital gains taxes be increased, which could inhibit investment and the purchase of real estate?
This depends on how much the feds stimulate the economy. There are rumours about Capital Gains Tax being increased up to 75% and could include your own personal property, if bought and sold within 12 months.
Will interest rates increase, which in turn will slow down the real estate market?
Rates will likely need to be increased to fight inflation, which is basically at 5%. Mortgage rates could even double over the next 24 month period and how much will that affect the real estate market, we shall see.
There are a lot of variables to consider for 2022, like the Corona Virus, could a new strain pop up and hit us again, then there's high inflation and low inventory in the Ottawa area.