Kitchener Waterloo Real Estate News
Wednesday May 13, 2020
Wednesday May 13, 2020, In this week’s Kitchener-Waterloo Real Estate News: home office, hair dye, coffee filters, the next 90 days, Millennials’ chance, shrinking business, Airbnb, prices fall, the office, the market right now…
Home office, office home
With the Coronavirus pandemic ongoing (and with the poor weather), like everyone else, I’ve been mostly stuck inside my home a lot recently. So, I’ve been reading the news about how cities, offices, homes will change. I’ve been reading about how we get to work, where we work, how we shop… will be changed forever too. Personally I think it is too soon for predictions. But I can say without a doubt that our relationships to our homes is changing. For me, I appreciate my home a lot more for being a safe and comfortable place with lots of room for everyone. I appreciate my dining room as family dinners have become a thing for us. I wish my kitchen was configured a little differently and was better organized, but that’s not the point. As we spend more time with our homes our relationships with them have changed and I hope for most people that is a good thing.
What Canadians flocked to buy as COVID-19 shut us down
Year-over-year sales of coffee filters increasing 68 per cent in the week ending April 11. Sales of hair dye jumped 75 per cent that week…
Open for business: Canadian real estate and the new normal
The next 90 days could see business resume to 70 per cent activity, but in a different way. Real estate offices will have worked through the logistics of the new procedures and tools that evolved during the previous 60 days. Come September, we hope that businesses will have regained some sense of normalcy seen before the virus, but the transaction process will have changed with continued integration of virtual deals.
Sadly, the pandemic could be Millennials’ best chance to buy a house
The next couple of years could be a once-in-a-lifetime chance to buy a first home for the lucky people who still have jobs. Is now a good time to buy? Maybe not right away, but over the next few months, you could get deals on your first place.
Survey says majority of Realtors expect COVID-19 to shrink business by at least 50%
Social distancing and economic disruption have resulted in deteriorating demand and agent sentiment.
Pandemic a major blow for Airbnb
The hard hit American home-sharing platform announced last Tuesday that it will slash a quarter of its office staff — some 1,900 people all around the world. This year the San Francisco-based company’s revenue will be “less than the half” of the 2019 figure.
Housing prices could fall 14% in Canada’s biggest city by 2022 — and that’s the ‘moderate’ scenario
DBRS Morningstar is looking at pandemic scenarios that include a 10% home price correction in Canada, with sharper declines in cities.
The office is dead
Get ready for the commercial real estate apocalypse
Three things you should know about the housing market right now
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