The escalating trade tensions between the U.S. and other countries, particularly through U.S. President Donald Trump’s tariffs, are starting to take a toll on the Greater Toronto Area (GTA) real estate market, according to the latest report from the Toronto Regional Real Estate Board (TRREB).
While the GTA has already been grappling with a slowdown in real estate sales due to rising borrowing costs and concerns about housing affordability over the past three years, TRREB suggests that the ongoing trade war is adding an extra layer of pressure on the market. The effects of the tariffs, particularly in terms of economic uncertainty and the potential for higher costs, are contributing to a cooling effect on property sales.
This combination of factors is creating a complex environment for buyers and sellers in the region, as the impact of international trade relations becomes an increasingly influential force in the local real estate landscape.
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