Cottage market cools down after 2020 COVID boom

Now the market has cooled significantly, mostly because of high interest rates. Here's more of the data for cottage country west of Ottawa:Slowdown expected after COVID-19 boom in demandThe dip isn't unexpected. The market for recreational properties is "hypercyclical," according to Ben Rabidoux, founder of the market research firm North Cove Advisors. High interest rates cool market downNow, high interest rates — 4.75 per cent as of June 2023 — are cooling things down. "Fuel costs have gone up substantially, food costs have increased, coupled with interest rates," Ball said.