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Mortgage Broker News | 16 Feb 2011, 09:00 AM Agree 0
Climbing resale housing activity is the result of consumers trying getting a jump on mortgage rule changes being implemented by the federal government in March.
  • david boisvert | 17 Feb 2011, 01:51 AM Agree 0
    How can something be seasonally adjusted over the same period last year. If sales are still down 6.6 from january of 2010 but up over last month does this mean that real estate is about to boom

  • theletterM | 17 Feb 2011, 03:20 AM Agree 0
    Average incomes can no longer afford average houses in most Canadian cities.

    The government has sold out Canadians with shortsighted policies that drove up prices exponentially over the last 5-8 years. (Policies that "didn't create" a bubble that "doesn't exist", according to Finance Minister Jim Flaherty.)

    Growth for the sake of growth will always be corrected...eventually. Just ask the Americans.

    It will be ugly, mark my words. Ignorant boomers trying to sell their decrepit bungalows for record profit will only add to the mayhem.
  • Don Berthelette | 19 Feb 2011, 02:11 AM Agree 0
    Yup! That's correct when referring to average incomes ability to buy( or not ). As interest rates go up and incomes hold , the formula for mortgage qualification will dictate limits that will force the market to follow.So market values will stop rising at such outrageous rates or go on hold. And in some markets they will drop. Folks who bought properties with poor resale factors will feel the crunch first and CMHC may become the proud owner of undesirable homes. But I doubt it will be ugly as in the USA.
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