Binge Eating Cottages

Like we can't predict what to expect in the unchartered territory of a tariff war against our closest trading partner nobody knew what to expect would happen in a global pandemic. What we surprisingly did was to eat up recreational properties like the cookie monster eating cookies. In many instances it was in a bidding war at inflated prices in order to live our dream isolated away from others.

However, once the cookie hangover kicked in and with the added combination of increased interest rates, the dramatic run-up in prices has made it significantly more difficult for people to buy real estate, never mind a cottage. This has caused things to be a buyer's market if they have the funds to buy with the current interest rates and can find a cottage to pick-up at what one would consider to be a steal of a deal during the heyday buying frenzy of Covid. This is actually the best time for cash only purchasers as they are not impacted by the increase in interest rates.