Home Prices and Sales are Only Softening, No Matter Who You Ask
Remember six months ago, when Finance Minister Jim Flaherty imposed all those mortgage rules? And remember the outrage that soon flew around the country, saying that the Conservatives would be responsible when our housing market collapsed? So many at the time were gearing up for this huge crash that would see homes plunging in value,…
Read moreSales Cool Down Further in Canada
Not surprisingly, Canadian home sales fell again in November, marking the fourth consecutive month this segment has seen a decline. There’s little question at this point as to whether or not the recent drops have been due to the mortgage rules that went into effect this past summer. The only question now remaining is: how…
Read moreWill it be Demographics that Gets Us in the End?
Our housing market is in trouble, many say. That’s due to higher prices, borrowers taking on more than they can afford, and government interference by way of those pesky mortgage rules. But in fact, it may be none of those things that really puts our market in a crunch. It may be the shifting demographics…
Read moreNovember Starts Down in Much of Canada
The housing market continues to see the effect of tightening mortgage rules, as CMHC reported early in the week that housing starts have been down in November, compared to the month before. In October Canada saw a total of 203,487 starts across the country; but that number dropped to 196,125 in November. The reason? Builders…
Read moreHow Affordable is it for First-Time Buyers to Buy a Home Now?
When the latest round of mortgage rule changes went into effect this past summer, there was a lot of worry surrounding first-time homebuyers and how these rules would affect them. But that was several months ago, when prices were still skyrocketing and didn’t show any signs of slowing down. Now the rules have had their…
Read moreToronto Sales Down, Prices Questionable
Toronto continues to see a decline in its home sales last month. Not so surprising given that we’re still seeing the effects of this summer’s mortgage rules, and that we’re headed into the winter months, right? Right. But while we’ve been seeing number of sales go down while prices climb steadily over the past few…
Read moreJim Flaherty: “I’m Happy” about Effect of Mortgage Rules
When Finance Minister Jim Flaherty saw Canada’s housing market climb and climb with apparently no ceiling to reach over the past two years, he knew it was time to do something about it. Yes, before July he had already instated new mortgage rules three different times – all with the same hope. That they would…
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