The Resale Housing Market is Still Healthy

More than 1,100 Greater Area realtors gathered to hear some of Canada's top real estate industry experts talk about the future iof the housing market at the Toronto Real Estate Board's 88th Annual Meeting on October 72th. Much of the discussion was focused in current market conditions, with panelists attributing a recent dip in the Toronto area resale housing market to waning consumer confidence. "People are mislead by the media," said Living Realty's Stephen Wong. "We don't have a problem; it's being self-inflicted."Panelists also agreed that while a return to robust conditions may not be seen until 2010, the market continues to be balanced and supported by the  economic fundamentals of strong employment and immigration, and historically low interest rates.In addition, Royal Lepage's Phil Soper noted "Were going through a time of general economic malaise but it is not going to prolonged and in the housing market we're not going to see a reset because it wasn't off in the first place'" he said.