John Pasalis, president of Realosophy Realty, joins BNN Bloomberg to discuss the latest Toronto housing data that show home sales in July plunging 47 per cent from last year. Pasalis says the transmission of monetary policy into the housing market is destroying demand, and sees sluggishness continuing into the fall. He expects more stability in the market with fewer distress sales. He says it’s now a buyers’ market, but adds buyers should watch out for quick price drops.