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This is a sincere question, as I'm trying to wrap my head around current market dynamics. Since 2016, condo investors have been snapping up everything that has appeared on the market. But this year, inventory keeps piling up. If you're a condo investor, especially if you're bullish on condo prices going higher over the next few years, what are your personal reasons for not buying right now?
I'm guessing that there'll be some combination of waiting for interest rates to come down before locking in any more mortgages, wanting to wait and see which way prices go in case you're wrong, already have as many units as you're comfortable with, don't have cash for downpayments right now, can't get financing for more purchases, etc., but I want to hear your actual reasons rather than just making up my own guesses.
Thanks.
Maybe all the condo investors are just taking a collective deep breath before the next wave. Sometimes, the best move is no move—especially when the market’s playing hard to get.
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