- Joined
- Sep 21, 2010
- Messages
- 3
Hello everyone! Are any of you in tuned with the latest REIN recommendation on Scarborough? I know last year it was in the top 10, but lately all I`m hearing is that Toronto is due for a price correction of 10-20% (no one knows for sure of course). PLUS, the Scarborough Mirror recently published a report of the GTA which shows the average income in Scarborough as DECREASED 20% since amalgamation. REIN says prices come down when they cannot be supported by income levels.
The reason i ask is that i currently own a bungalow in a good part of Scarborough and while it`s producing positive cashflow, it`s now valued at the highest it`s ever been in the 12 years I`ve owned it. If a correction occurs in 2011 and i want to sell, I`ve lost out! So I`m wondering if it looks like a correction is coming, if I should "harvest" now and reinvest somewhere else or later? Any thoughts?
Thanks all!
The reason i ask is that i currently own a bungalow in a good part of Scarborough and while it`s producing positive cashflow, it`s now valued at the highest it`s ever been in the 12 years I`ve owned it. If a correction occurs in 2011 and i want to sell, I`ve lost out! So I`m wondering if it looks like a correction is coming, if I should "harvest" now and reinvest somewhere else or later? Any thoughts?
Thanks all!