The end of Canadian real estate insanity
Filed Under Main Content · Tagged: 20th Century, Canada, Canadian Real Estate, Estate Experts, Fades, Globe And Mail, Globe Mail, Home Ownership, Housing Market, Insanity, New York Times, Rich Rewards, Second Half
The Globe and Mail- A New York Times headline caught my eye the other week: Housing Fades as a Means to Build Wealth, Analysts Say. The article went on to report that, while most real-estate experts believe the U.S. housing market will recover from falling off the cliff, many also feel that home ownership will never again produce the rich rewards enjoyed in the second half of the 20th century.
There was something about the piece that made me think: Maybe this isn’t all bad. But is it true? And does it apply to Canada?…
The end of Canadian real estate insanity - The Globe and Mail
Canadian housing starts will weaken but won’t be infected with U.S. virus
Filed Under Main Content · Tagged: Fiasco, Housing Market, Housing Starts, Journal Of Commerce, Second Half, Spectre, Virus
Journal of Commerce- Housing starts in the second half of this year will weaken versus the first half, according to CanaData’s latest forecast. There are five obvious reasons.
Several others are subtle and raise the spectre of the Canadian housing market being infected with the deadly U.S. housing-fiasco virus. More on that in a moment, but let’s begin with factors working against Canadian housing starts…
Canadian housing starts will weaken but won’t be infected with U.S. virus – Journal of Commerce
Canadian home prices continue to rise
Filed Under Main Content · Tagged: Associate Director, Conference Board Of Canada, Globe And Mail, Globe Mail, Hasn, Michael Burt
Globe and Mail- Canadian home prices are still on the rise even as sales fall as demand peters out, one factor that is making homes less and less affordable, according to a study by the Conference Board of Canada.
Home sales have fallen by 25 per cent since reaching a peak at the beginning of the year as fewer buyers compete and more houses come onto the market. That hasn’t stopped houses from becoming more expensive, a trend that is likely to continue, said conference board associate director Michael Burt…
Canadian home prices continue to rise - The Globe and Mail
HST blamed for drop in sales across the country
Filed Under Main Content · Tagged: Adjusted Basis, Banks, British Columbia, Consumers, Decline, Existing Home, Financial Group, Housing Market, Interest Rates, July 1, Ottawa, Purchasing, Real Estate Boards, Real Estate Commission, Slowdown
Financial Post- The Ottawa-based group, which represents 100 real estate boards across the country, said July sales fell 6.8% on a seasonally adjusted basis from the previous month, a decline "almost entirely the result of fewer sales in British Columbia and Ontario," where the HST went into effect on July 1.
The slowdown had been expected as consumers rushed to buy homes before July 1 in those provinces. The HST only applies to services used in purchasing and selling an existing home, such as real estate commission, not to the actual sale price.
The housing market did get a bit of good news from some banks, which lowered interest rates this week…
HST blamed for drop in sales across the country
