Market trends: Cottage prices to drop
Phil Soper President and CEO of Royal LePage comments on the state of cottage prices across the country. He goes into detail about the effect of interest rates and inflation rates when buying recreational property. He also compares current prices to last year’s prices. I always add that comparing current prices with last year’s prices can be misleading. Last year’s prices were in an overheated market. If you look at prices over the course of the last few years you get a more complete picture.