HomeMortgage"Don't panic" on housing market: principal broker

“Don’t panic” on housing market: principal broker

“I think that 1% [increase] really had a huge impact, psychologically. The psychological impacts are always shorter-term – people have to get used to it,” she said. “That’s why my prediction is, after the summer and the next winter season, next spring everything will be going [back] to normal, because everybody takes it for granted the interest rate is higher.”

Lending rates remain low by historical standards, Xu said, with the rock-bottom rates that prevailed during the first two years of the COVID-19 pandemic an “abnormal” exception that would not have arrived in ordinary times. She also emphasized the real estate market as a long-term investment, with the return of higher immigration levels likely to herald a busier market in the future.

“For long-term investment, demand and supply always have to balance,” she said. “In a…

Read more at www.mpamag.com

- Advertisment -

Most Popular