Recent Comments
Re: “Is Canada's housing bubble about to burst?”
Anyone who buys a house now is going to suffer later. The affordability index of housing in Canada is through the roof; it is currently cheaper to rent than buy.
Add to this that we are in the middle of the deepest recession since the great depression; Canadians are not receiving cost of living salary increases; Canadians are carrying record debt loads; increase in the perceived value of the Canadian dollar is damaging our manufacturing and commodities exporting businesses; our largest trading partner to the south is heaving its financial guts out and is no longer buying our exports due to the increase in the Loonie, which means higher unemployment in Canada; the unwinding of the baby boomers assets has begun, of which housing is the largest asset; the increase of taxes (HST) and the beginning of the increases to the mortgage rates as seen within the last few weeks.
All this points to the making of a depressed / buyer’s real estate market. Housing will be coming down in price within the next two years; real estate pundits say somewhere between 17% (CIBC) and 35% (David Rosenberg). Don't listen to realtors if you’re thinking of buying a house, they want to make a commission and if they aren't selling they don't make any money. So rent for a couple of years and wait for the housing prices to come down and you will be rewarded when you purchase your house.
For those of you who currently own a house and are thinking of selling put it on the market now, before the correction occurs. Be prepared to take a lower price than you want, but you’ll still be profiting IF you can sell it. Buy low and sell high…now is the time to sell.
Guides
- Home |
- Dating |
- Bitch |
- News |
- Music |
- Movies |
- Dining |
- Arts |
- Opinion |
-
Best Of
| - FAQ |
- Halifax Free Classifieds |
- Jobs |
- Housing |
- For Sale |
- Classes |
- Bulletin Board |
- Health, Beauty |
- Services |
- Real Estate |
- Wanted
- About Us |
- Our Staff |
- Contact Us |
- Advertise |
- Work With Us |
- Send us a Tip |
- Privacy Policy |
- Comments Policy |
-
RSS Feeds
|
- Archives
Re: “Is Canada's housing bubble about to burst?”
Anyone who buys a house now is going to suffer later. The affordability index of housing in Canada is through the roof; it is currently cheaper to rent than buy.
Add to this that we are in the middle of the deepest recession since the great depression; Canadians are not receiving cost of living salary increases; Canadians are carrying record debt loads; increase in the perceived value of the Canadian dollar is damaging our manufacturing and commodities exporting businesses; our largest trading partner to the south is heaving its financial guts out and is no longer buying our exports due to the increase in the Loonie, which means higher unemployment in Canada; the unwinding of the baby boomers assets has begun, of which housing is the largest asset; the increase of taxes (HST) and the beginning of the increases to the mortgage rates as seen within the last few weeks.
All this points to the making of a depressed / buyer’s real estate market. Housing will be coming down in price within the next two years; real estate pundits say somewhere between 17% (CIBC) and 35% (David Rosenberg). Don't listen to realtors if you’re thinking of buying a house, they want to make a commission and if they aren't selling they don't make any money. So rent for a couple of years and wait for the housing prices to come down and you will be rewarded when you purchase your house.
For those of you who currently own a house and are thinking of selling put it on the market now, before the correction occurs. Be prepared to take a lower price than you want, but you’ll still be profiting IF you can sell it. Buy low and sell high…now is the time to sell.