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Christmas is a wonderful time of year. Enchanting! The season brings visions of golden-brown turkeys with all the trimmings. Carolers singing as the snow falls gently down. Gifts under the Christmas tree. Stockings hung by the fireplace. Family times. It’s just a special time unlike any other in the year. And a time when memories are forged that will last a lifetime.

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There are a lot of challenges being a residential landlord these days. That’s for sure. But one of the major ones is our governing legislation, The Residential Tenancies Act. It’s there. It’s a reality. We need to understand it and work with it. But as I say, it’s a challenge.

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Looking back at market performance over the years, we see that while in rapidly appreciating markets like 2017, 2020 and 2021 it is not unusual to see prices continue to climb into December and January, that is not typically the case. In both declining markets and in stable balanced markets, we see prices decline at year end, and generally on into January as well. That pattern was seen in 2022-2023 and that is precisely what we are seeing again in 2023-2024.

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As we slide into the last few weeks of 2023 the market presents no real surprises. Prices in November are down on average about $12,362 or 1.8% from October. And that’s pretty consistent with what we’ve seen in past years for November, as the market runs out of steam approaching the Christmas season.

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Financial independence is a critical skill for future success that your children will not learn anywhere else. Not only does financial literacy help your children have more success in life, but it allows them to move out sooner and it avoids delaying your retirement with additional expenses to support them.

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