Home building to slide further

Times Colonist-Home construction is expected to continue easing in the final quarter of this year before stabilizing in 2011, according to Canada Mortgage and Housing Corp.

The federal agency on Monday forecast housing starts to range between 176,700 and 194,700 units in 2010, and between 148,000 to 202,300 units next year as the market returns to “levels consistent with demographic fundamentals.”

“High employment levels and low mortgage rates will continue to support demand for new homes in 2011,” said CMHC chief economist Bob Dugan. “Nevertheless, housing starts will decrease to levels that are more in-line with long term demographic fundamentals next year…”

Home building to slide further

CTV Southwestern Ontario – More stable real estate market predicted for 2011

CTV News- Low mortgage rates and reasonable housing costs in Waterloo Region are on the way for 2011, according to analysts at the Canada Mortgage and Housing Corporation.

The CMHC held its annual outlook seminar in Kitchener on Tuesday, and analysts say 2011 promises to be much more stable after a roller coaster ride in 2010…

CTV Southwestern Ontario – More stable real estate market predicted for 2011 – CTV News

CMHC: Canada’s very own ticking economic time bomb

The Star- For the past few years, Canada has been basking in the glow of international economic praise.

Our banking system is the best in the world. There has been no need for government bailouts. True, we have recently been running large deficits. But they are manageable in terms of the size of our economy. Our dollar is strong. Investors want to invest in Canada. Best of all, our real estate market, with a short hiccup in late 2008 and early 2009, has been moving steadily upward. Historically low mortgage rates have made housing affordable to practically anyone wishing to purchase.

Not for us the housing disasters that have occurred practically everywhere in the world. No toxic investment paper, as was created in the U.S., by bundling mortgages into investment vehicles that had very poor underlying security. Not for us the “ninja” borrowers (no income, no job, no assets)…

CMHC: Canada’s very own ticking economic time bomb – thestar.com

Weights & measures

Financial Post-The days of exceptionally low mortgage rates are coming to an end as a number of banks announced higher fixed rates this week.

However, the higher rates may not immediately slow the Toronto housing market.

"I think that higher rates will be somewhat balanced by the fact that, in Toronto, people might rush into the market in order to beat the introduction of the harmonized sales tax [July 1]," says Marc Pinsonneault, senior economist, economy and strategy group, National Bank Financial Group.

Certainly, rising prices had not slowed the rush of buyers to the market in the early part of the year. This week’s Teranet-National Bank National House Price Index, which traces resale numbers, showed a 0.7% increase in house prices in Toronto in January, compared with the previous month. The year-over-year rise was 9.4%…

Weights & measures

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