Buyers racing rate rise
Filed Under Main Content · Tagged: Affordability, Cameron Muir, Chief Economist, Global Economic Crisis, Low Mortgage, Mortgage Interest Rates, Multiple Listing Service, Pace, Previous Year, Real Estate Association, Year End
Times Colonist- The total number of sales in B.C. through the Multiple Listing Service leaped by 118 per cent in January to 4,619 compared with the same month the previous year, when the world was rocked by the global economic crisis. Sales dropped by 16 per cent last month from the previous month, the B.C. Real Estate Association said yesterday. Cameron Muir, the association’s chief economist, said that’s the result of waning pent-up demand and eroding affordability.
While low mortgage interest rates will continue to entice homebuyers through the spring, demand is expected to moderate from its frenetic year-end pace, he said…
Recovery to accelerate, Bank of Canada says
Filed Under Main Content · Tagged: Affordability, Bank Canada, Bank Of Canada, Buying Spree, Carney, Confidence, Economists, Express, Globe And Mail, Housing Market, Investment, People, Recession, Resale Market, Rock Bottom, Vigorous Growth
The Globe and Mail- …The central bank also appeared to express confidence that the country’s hot housing market will even out before a bubble forms, as some economists have warned would happen if rock-bottom borrowing costs continue to help monthly sales smash records. In October, Mr. Carney attributed much of the buying spree in the resale market to people who had put off purchases during the recession, largely echoing that view Thursday.
“Following a period of vigorous growth, housing investment is projected to slow through 2010 as pent-up demand subsides and affordability declines,” the central bank said…
Recovery to accelerate, Bank of Canada says – The Globe and Mail
$2-million gap in North American housing markets for ‘aspirational homes’: report
Filed Under Main Content · Tagged: Affordability, American Homes, American Housing, Border Town, Canadian Locales, City Border, Gap, Top 10 List, Town Of Detroit, Vancouver Sun, Windsor Ont
Vancouver Sun – No Canadian locales cracked the North American top-10 list in terms of affordability, but it did include the “Motor City” border town of Detroit at $132,000 US. Just across the border in Windsor, Ont., the average price was about twice as much at $244,000…
$2-million gap in North American housing markets for ‘aspirational homes’: report
Riding the real estate roller coaster
Filed Under Main Content · Tagged: Affordability, Mortgage Activity, Real Estate, Roller Coaster, Toronto Ontario
Financial Post – Toronto,Ontario – If affordability was the only measure, you would see mortgage activity accelerating,” said Mr. Tal. “Look at the US market, it’s extremely affordable. …
