Stimulus and housing give economy one-two punch
Filed Under Main Content · Tagged: Construction Activity, Economic Recession, Economy, Existing Home Sales, Financial Insurance, Housing Market, Insurance, Ottawa Citizen, Pillar, Punch, Real Estate Agents, Reflection, Remarkable Strength, Statistics Canada, Stimulus
Ottawa Citizen-
“Financial, insurance and real estate have continued to be that pillar of strength, consistently showing growth through much of this economic recession,” he said. “And we know that is the housing market, a reflection of the remarkable strength in the existing-home sales market.”
October figures from Statistics Canada show a 7.2% rise in existing-home sales activity from real-estate agents and brokers. However, construction activity was up only 0.1%…
Stimulus and housing give economy one-two punch
Don’t clamp down on home mortgage regulations, federal government urged
Filed Under Main Content · Tagged: Binge, Clamp, Collapse, Driven Prices, Federal Government, Home Mortgage, Low Mortgage, Mortgage Rates, Mortgage Regulations, Rsquo, S Sales, Vancouver Sun
Vancouver Sun- …the pent-up demand for housing from the buyers who fled the market during 2008′s sales collapse, combined with buyers jumping into the market sooner than expected to take advantage of record low mortgage rates, that have driven the buying binge and driven prices up over the last half of 2009…
Don’t clamp down on home mortgage regulations, federal government urged
Comment: Flaherty bombs on housing bomb
Filed Under Main Content · Tagged: Bomb, Bombs, Canadian Real Estate, Canadian Real Estate Association, Homebuyer, Hot Real Estate, Interest Rates, Mortgage Payments, Real Estate Association, Real Estate Market, Recession, Resale Price
Financial Post-The Canadian Real Estate Association reported the resale price of an average Canadian home hit $337,231 in November, up a stunning 19% from a year earlier.
If a red-hot real estate market during the brutal recession of the past year doesn’t meet Flaherty’s definition of an "irrational" market, it’s difficult to know what would.
Yes, interest rates are historically low, but any rational homebuyer has to realize interest rates will inevitably rise. When that happens, many homeowners will face much larger mortgage payments…
Comment: Flaherty bombs on housing bomb
Cure for housing market carries risk – The Globe and Mail
Filed Under Main Content · Tagged: Borrowers, Finance Minister Jim Flaherty, Globe And Mail, Globe Mail, Housing Market, Low Interest Rates, Market Risk, Maximum Length, Mortgages, Real Estate Prices, Residential Real Estate
Globe and Mail-
Fuelled by record low interest rates, residential real estate prices have gained 20 per cent this year. And Finance Minister Jim Flaherty is now warning he will step in if prices get too high by tightening the rules for borrowers, by increasing the minimum down payment and shortening the maximum length of mortgages…
