Well when you read an article about what the top Realtors in Canada think about what is going on you know they will put a positive spin on our situation . But this time they made some valid points that I think you would be interested in.
Indeed, we have seen much more challenging times than
these. Many of today’s homeowners can recall the days of
the early ‘80s when interest rates peaked at more than 20
per cent and infl ation jumped to nearly 13 per cent, and the
early ‘90s when massive lay-offs made the news headlines
on a daily basis. In contrast, today’s interest and mortgage
rates remain at historically low levels, infl ation sits at 3.5 per
cent and more than nine out 10 Canadians are working.
Comparing Canadian homeowners to those in the United
States also illustrates our healthy situation. According to Canada
Mortgage and Housing Corporation, only 0.27 per cent
of Ontario mortgages are more than 90 days in arrears, this
compares to 6 per cent during the recession of 1992. In the
United States meanwhile, four per cent of prime mortgages
and 18 per cent of sub-prime mortgages are in default.
There is also much for Canadian homeowners to look forward
to with respect to real estate values in the next decade
as the children of our country’s 11 million baby boomers
begin house hunting.
According to one recent study, the
number young adults currently living with parents in the
GTA is 10 per cent higher than the national average. This
group’s future demand for housing is coupled with the fact
that Canada is ranked number one in terms of population
growth amongst the G7 nations, with more than quarter of a
million new immigrants each year.A recent study by the International Monetary Fund substantiates
what Canada’s top real estate experts already know. It
studied housing markets in 17 countries and found that Canada
was one of only two nations in which house prices are
supported by the economy. According to CMHC, from 1999
to 2004 Canadian residential real estate offered an average
annual growth of 6.8 per cent compared to only 5.8 per cent
for equities and 5.3 per cent for bonds. All of these positive
statistics point to a fairly quick return to good market conditions
As anyone who has bought a home knows there is no
better long term investment.
For more information please contact:
Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7
BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL
kathy@etobicokehomes4sale.comWebsite:
etobicokehomes4sale.com
