Canada is not in a housing bubble; but is that cause for concern?
The housing market in Canada is one that walks a fine line. It slows down too much, and people start panicking. It picks up speed, as it has recently, and people start panicking. The current reason for this latter panic is because mortgage interest rates are so low, more and more people are starting to take on mortgages. This then, has the potential to lead to the dreaded “bubble” – and even worse, the bubble burst – when people gobble up new homes at low rates, only to later find that they can’t afford them. And the panic in Canada right now is that this burst is going to happen on a multi-million scale
Read moreCanadian Home Prices at an All-Time High
Don’t worry about what the rest of the world is doing – if you’re Canadian and you’re selling your house right now, you’re likely to get top dollar for it, according to a recent report from the Teranet-National Bank Composite House Price Index. As of July 2011, resale home prices rose on the Index to 146.51, the highest it’s ever been. But what does that mean exactly?
Read moreToronto Real Estate Looking Towards Fall
And we don’t just mean the season we’re currently in, with the crisp air and the falling leaves. According to the Globe and Mail, the Toronto real estate market – which has been booming for some time and far succeeded other markets in the country – is about to take a dip this fall; and it’s news that both buyers and sellers need to pay attention to. The news comes from a group of Toronto Realtors, and it’s going to change the way buyers and sellers act while on the market, and how they interact with each other.
Read more“Intensification” is Up in Ottawa!
The City of Ottawa is on a mission – to build up rather than out; or rather, to get more of its residents living in apartment buildings or condos closer to the downtown core, and less in the suburbs, such as Kanata. And, according to the City’s Annual Development Report, they’ve been successful so far.
Read moreKeep it Up, Toronto!
A recent report released by the Toronto Real Estate Board has shown that sales are up in Toronto for 2011 from where they were ago one year ago in 2010. And they’re way up, 25% to be exact! That’s something to boast about in a country where other large cities like Montreal and Vancouver are trying to unload all the vacancies they’ve been holding onto for the past several months. Generally when sales see such an increase, in any city, the one question people always ask is how long until those sales start to come down
Read moreBaby Boomers will Drastically Shift Housing Market
Time to talk about the Baby Boomers and their upcoming retirements again. This time, the focus is on the future of the housing market as so many Boomers prepare for retirement at the same time. And it’s a report from the Canadian Press that’s got everyone talking about the impact that will have.
Read moreCanadian Homes Sales Remain Strong Through August
Maybe it’s the rebounding economy. Maybe it’s the fact that the Bank of Canada’s interest rate is at a historical low. Or maybe it’s the fact that Canadians are reducing their unsecured debt, and starting to want to take on more good debt, like a mortgage. Whatever the reason, the upshot in sales the country saw in July continued through August. And not only did the market remain steady, but it was also the first time in 2011 that Canadian sales, as a whole, pulled ahead those of 2010.
Read more
Contact Us
Contact us today to set up an appointment.