Only On The Walters Post

They’ll tell you COVID changed everything , that people suddenly needed home offices, more space, and that’s why house prices shot through the roof. Sure, there’s some truth to that. But let’s be honest: the story that sells newspapers and clicks isn’t the full story.

Here’s what really went on in my opinion. Houses didn’t suddenly become magical cash cows. Prices jumped because the market got hyped … the kind of hype that makes people think they have to buy yesterday or miss the “opportunity of a lifetime.” Stories about scarcity, “hot markets,” and “prices only go up” were everywhere. It’s like a carnival game: everyone leans in, everyone pays, and somehow the house always wins.

Then there’s the banks and mortgage companies. Oh, bless them. Low interest rates make lending cheap, and the powers that be protect them if things go sideways. So they hand out big mortgages like candy. You get a house that’s priced close to double what it’s worth, sign up for a long mortgage, and suddenly you’re in over your head — all while the bank sits back, safe as a cat in a sunbeam.

COVID made a convenient story. Some people really did need more space, but mostly, it was psychology and momentum driving prices. Buyers thought they were keeping up, lenders thought they were clever, and sellers — well, they just smiled all the way to the bank. Until now.

Now the market is cooling. Niagara, St. Catharines, even North Bay — prices are softening, homes are lingering on the market, and buyers can breathe a little. The hype machine has slowed down, the music has stopped, and suddenly the house isn’t magic — it’s a piece of wood and brick that will probably sit there if you don’t pay attention.

So if you’re patient, you watch, and you wait for a home that actually makes sense, you can step in without getting caught up in another round of frenzy. Houses are just houses. The story around them can be loud, flashy, and sometimes downright absurd — but underneath, it’s the same as it ever was.

Sometimes you have to pull back, see the whole picture, and laugh a little at the circus. Because if you don’t, you might just be the one paying for the popcorn.

Until the next time: Keep Your Minds Open & Your Stories Alive. GW