I've been in the business a long time and I know we (Hamilton Burlington Real Estate Agents) combined sell around +- 12,000 houses per year, or 3,000 Per Quarter.
This changed dramatically post 1990 Recession, when we were selling about 1,500 homes per quarter and that slump took a couple of years to overcome.
I think we will see reasonable corrections in our market as well, particularly in the luxury segment, which has gotten a little ahead of itself.
Mid range homes, condos, Hamilton Mountain, Hamilton East and Hamilton Center, along with Stoney Creek will continue as they are.
Hamilton West needs to settle down a bit, along with Ancaster, Flamborough, Burlington and Waterdown.
Average Price of Homes Canada
Yes, rates are low but you really should be budgeting for 7-8% rates down the road. They will eventually and inevitably go up and if it's your time to renew, well guess what?
Interest Rates 7 year overview
There is very little we can do without credit and we are blessed to have access to it.
Borrow to empower, not to enslave, borrow reasonably and borrow to increase your net worth not to buy junk