Editor:
Re: Supply glut, HST slow real estate market (Coast Reporter, Aug. 13).
I couldn't help but laugh at the headline of your article and the rationale presented by the experts quoted in your article. Why should more listings mean fewer sales? If anything, more listings should mean lower prices meaning better affordability, meaning more sales. As for the introduction of the harmonized sales tax, if some potential buyers are not capable of determining whether the HST would apply to their purchase, they are probably also not capable of making a wise decision as to how much mortgage they might carry.
The market has spoken - prices are too high and they need to and will come down. The smart sellers will get out now while they can. Let the bubble pop!
Alan Donenfeld
Gibsons
