Spring to Fall Market Projection 2021
Tuesday Jan 12th, 2021
The Liberal Government since 2015 has added MANY new public Servants and added to Military and RCMP staffing the NCR.
So each year they were in power the housing market has been exceptionall good. With all the new public servants in December 2019 there were
VERY few listings with prices up 19.7%. For December 2020 Prices were up 20%.
Due to Covid 19 during 2020 there was a double whammy. Sellers could not find what they wanted as the INVENTORY of homes was so low.
So they did not list. Also Sellers did not want strangers in their home that could have covid.
What about 2021?
The Liberals are doing well in terms of Vaccines. So I expect that they will call an election for May to June 2021
So the market in Ottawa up till then will be good.
Whomever wins will have a MAJOR problem. The Federal Debt increase will be around $450B. Liberal or Conservatives will have cut back on the number of Public Servants starting by August. There may also be various tax increases.
All this to say that the Ottawa market will see reductions in prices by Late summer to early fall.