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 [...]
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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 [...]
GTA home prices rise as sales fall: TREB
Greater Toronto REALTORS® reported 3,084 sales during the first two weeks of February 2011 – a 13 per cent decrease compared to the first two weeks of February 2010. “We are on pace for a strong sales result in February, but transactions will come in lower than the record result reported last February. Sales remain [...]
U.S. Housing Prices Continue Slide
The latest statistics on U.S. home prices show that they are now approaching levels not seen since the housing bubble burst in 2006 and 2007. Eleven cities posted new index level lows in December 2010, since their 2006/2007 peaks. These cities are Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland, Seattle and [...]
Mortgage Interest Rates Bank of Canada’s research Nothing new is revealed
Research released by the Bank of Canada recently suggested that Canada’s largest banks are slow to pass on cuts in the Bank of Canada’s policy interest rate. The banks’ practice of holding off discounting for longer periods is “common practice.” It has been every day experience of the common man for the last two years [...]
Is it a good time to buy or invest in Condo or Home in Toronto?
If you are a first time home buyer, it is time to look for a suitable home or condo within your budget in a good location; sooner the better. During 2009 and 2010, except for a brief period, most of the time, real estate prices were rising. Some people anticipated a US type crisis in [...]
Canadian Housing Market to Stabilize
OTTAWA, November 4, 2011 — Housing starts are forecast to stabilize into 2012, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition1. “Despite continued uncertainty in the global economy, Canada’s economic fundamentals remain positive, particularly with respect to interest rates, employment and immigration. These factors will continue to support [...]
GTA Real Estate Market Watch
Toronto, November 3, 2011 — Greater Toronto REALTORS® reported 7,642 home sales through the TorontoMLS® in October 2011. This represented an increase of 17.5 per cent compared to the 6,504 transactions reported in October 2010. Monthly sales data follow a recurring seasonal trend that should be removed before comparing monthly results within the same year. [...]
TORONTO – GROWING SKYLINE BECOMING A CAUSE FOR CONCERN
The condo boom witnessed over the past four to five years has been a nationwide story, affecting nearly every urban centre on our short list. Nowhere is the more visible and apparent than within the Greater Toronto Area (GTA). A few years ago, condo development was discussed among local authorities and concerns focused on land [...]
REAL ESTATE ONE LINERS
The sellers told me their house was near the water. It was in the basement. I have a temporary mortgage. What do you mean temporary? Until they foreclose. Realtor: first you folks tell me what you can afford, then we’ll have a good laugh and go on from there. The dream of the older generation [...]
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