One thing I’ve learned from writing columns for local news outlets and contributing to blogs like this one is that a thick skin isn’t optional. If you put opinions into the wild, the wild writes back. Sometimes politely. Sometimes… less so.
After a recent article, several comments landed in the familiar bucket of “I can’t wait for the market to crash” and “I’ve lived in my home for 30 years and the best thing that could happen is for this real estate bubble to burst.”
Which is an understandable emotional reaction. It’s just not a particularly informed one.
Those comments got me thinking less about real estate prices and more about what actually happens when a home sells, because the conversation rarely goes there. Housing isn’t just an asset class or a headline. It’s an economic engine, and one that quietly funds a lot of what we all rely on.
I was reminded of a workshop I attended where a speaker broke down how much money is reinvested into the local economy every time a home changes hands. Below is a current snapshot based on an average Durham Region home price of $850,000, with a seller using a licensed real estate broker and a buyer purchasing with a 15% down payment.
A quick but important note before the numbers:
With the exception of taxes, the vast majority of these costs stay local. They circulate through businesses, trades, employees, and services right here in our community.
The Economics of One Home Sale
Sale Price: $850,000
Seller-side costs include Realtor fees, legal fees, moving expenses, and renovations to prepare the home for sale.
Approximate total: $76,000
Realtor fees cover more than a sign on a lawn. They include local advertising, staging, photography, printing, installation, administration, and staff. Legal fees also include some government charges.
HST payable on the seller side: approximately $9,000
Buyer-side costs include legal fees, moving expenses, financing and bank costs, appraisals, inspections, land transfer taxes, CMHC insurance, and post-purchase renovations or appliance purchases.
Approximate total: $46,000
(Yes, the CMHC premium is added to the mortgage, not paid upfront, but it is still a real cost of purchase.)
HST payable on the buyer side: approximately $5,000
The Big Picture
Excluding HST, a single home sale generates roughly $122,000 in spending that flows back into the local economy. Add HST, and the total climbs to approximately $136,000.
Now scale that.
- Last month: 455 homes sold in Durham Region
→ Just under $62 million reinvested into local businesses, wages, and government revenues - All of 2025: 8,128 homes sold
→ Over $1 billion reinvested into the Durham Region economy
That’s not speculative money. That’s contractors, lawyers, movers, trades, suppliers, municipal revenues, and employees paying their own mortgages and taxes.
Why This Matters More Than Market Sentiment
Canada’s economy has always been deeply tied to real estate activity. Housing cycles don’t just reflect recessions, they often lead us into them and pull us out. The engine runs on more than interest rates and prices. It runs on certainty. Buyers need confidence that a home is a long-term investment worth committing to.
A good example of this ripple effect is development charges. For those unfamiliar, these are fees charged when a new lot is created for housing. In Durham Region, they currently sit around $125,000 per single-family lot.
As the market slowed and builders pulled back, building permits dropped sharply. Between 2022 and 2024, the resulting decline in development charge revenue created an estimated $100 million shortfall. That gap didn’t disappear. It showed up elsewhere, including higher property taxes. (These are approximates as the city of Oshawa makes it challenging to break down detached and other types of new builds.)
When housing activity slows, the cost doesn’t vanish. It gets redistributed.
The Bottom Line
When the real estate market sputters, it isn’t just buyers and sellers who feel it. The entire community does.
So while hoping for a market crash might feel satisfying in a comment section, the real-world consequences are far less cathartic.
As we look toward 2026, the goal isn’t runaway prices or reckless speculation. It’s a return to certainty, confidence, and measured optimism. A healthy housing market doesn’t just benefit homeowners. It injects life back into the local economy, supporting services, infrastructure, and the broader community we all share.
Quietly. Consistently. And whether we notice it or not.
Connect with us on Facebook, Instagram, LinkedIn and YouTube.
Leave a Reply