Are you planning to buy or sell homes? Looking for some advice? Listen to Canadian Banks before you make up your mind. Here are selected portions and main points from Banks’ reports on housing (real estate) trends and forecast in Canada. CIBC CIBC Economist, Benjamin Tal recently released an interesting report examining the possibility of [...]
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Tighten The Housing Market?
As Canadian personal and mortgage borrowing continues to climb, international watchdogs have called on the government to better assess the risk. The high debt load now poses a risk to government coffers. How? Mortgage lenders in Canada are required to have default insurance on any mortgage with less than a 20% down payment. Most of [...]
Really, an Increase in Household Debt isn’t all Bad
Globe and Mail Published Thursday, Jan. 26, 2012 The growing household debt of Canadians who should be in their prime savings years reflects demographic changes that will alter the nature of retirement, in ways that have some surprisingly positive sides. They may be “punch-drunk” on low interest rates, as a report by CIBC economist Avery [...]
Confused about different types of RRSPs and wondering what to choose?
Then here’s an explanation. Individual RRSP —Account is registered in the name of the (individual) contributor. Self-directed RRSP —If you are a do-it-yourself investor, then go for self-directed plan. It can hold a wide range of investments together in one plan. Annual trustee fees of up to $150 are often waived for those with at [...]
New Housing Price Index Rises Again :StatsCan, Toronto And Oshawa Post The Highest Year-over-year Price Increase
Jan 12 The New Housing Price Index (NHPI) rose 0.3% in November, following a 0.2% increase in October. The metropolitan regions of Toronto and Oshawa, and Montréal were the top contributors to the increase in November. The positive impact of these metropolitan regions on the overall index was offset in part by decreases observed in [...]
What Are The Canadian Real Estate Predictions For 2012?
Well, according to The Globe and Mail, if interest rates stay low and sub-prime mortgages remain at bay, prices won’t crash, and the market will level off. Benjamin Taj, chief economist of CIBC, has seven Canadian real estate predictions for 2012: 1- Interest rates will remain low; prices will remain high, especially in city centres [...]
TORONTO HOUSING STARTS RISE IN 2011
TORONTO, January 10, 2012 – Annual total housing starts for the Toronto Census Metropolitan Area increased to 39,745 units in 2011, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). For the month of December, the seasonally-adjusted annual rate (SAAR) of total housing starts increased to 39,500 units. Housing starts in [...]
Canada’s Housing Market Is There A ” Housing Bubble” In Canada?
“No,” says CMHC, Canada’s national housing agency Following is CMHC’s fact sheet. “While there have been concerns of a “house price bubble” in Canada, clear evidence of it is lacking. The key characteristic of a bubble is an environment where house prices exceed levels that would be suggested by underlying demographic, economic and financial factors [...]
The Housing Bubble
The Economist magazine in 2005 described the rise in the US house prices since 2000 as the ‘biggest bubble in history’. Subsequently, since 2006 the U.S. housing prices declined 33percent.It resulted in an estimated $7 trillion loss of household wealth, and about 12 million U.S. homeowners are currently underwater on their mortgages. A new federal [...]
Owning a home became a little more affordable: RBC
“Housing affordability improved modestly for the second consecutive quarter in the fourth quarter of 2010,”according to a Royal Bank of Canada study. General National Trends: “Homeownership costs were lowered by small decreases in the five-year fixed mortgage rate during October and November of 2010 amid minimal home-price appreciation. Outright declines in certain local markets were [...]
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