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Mortgage Broker News | 20 May 2015, 03:51 PM Agree 0
Canada’s finance minister says the country’s real estate market has avoided the so-called bubble, with many markets already experiencing a soft landing.
  • Joel Sida | 20 May 2015, 04:18 PM Agree 0
    Excluding Toronto and Vancouver the market has a normal trend.
  • John S. | 20 May 2015, 05:02 PM Agree 0
    I know, I was looking on a cottage/property near Havelock, ON about 2.5 hrs from TO, substantially overvalued (to my opinion), among other things the description noted: "close proximity to Toronto" LOL! Who are you kidding? Property values right across ON are anecdotal!
  • Larry | 20 May 2015, 05:43 PM Agree 0
    In the last two months I've seen multiple empty lots sold and resold at least 3 times and more. One vacant lot in particular going from $1.7 to $2.4 million in 6 weeks solely to offshore speculators. This is not first time buyers and this is in the suburbs of Vancouver. BOC and the Minister are out of touch...completely.
  • Darr Robbins | 20 May 2015, 06:04 PM Agree 0
    @John S. But but Havelock is a skip and a jump from Mamora!
    All kidding aside, asking (and selling) prices in Ontario are out of wack with municipal evaluations.
    Quebec is usually the odd man out but in this respect, they have an edge. Municipal evaluations are extremely accurate and surprisingly reflect a building's realistic construction costs and market value. This puts the knowledgeable buyers with a strong price discovery tool.
  • John S. | 20 May 2015, 08:45 PM Agree 0
    @Larry, are you sure those are only speculators?

    http://ottawacitizen.com/opinion/columnists/glavin-reaping-the-whirlwind-of-canadas-unseemly-intimacies-in-beijing

    http://ottawacitizen.com/opinion/columnists/glavin-the-questions-politicians-dont-want-us-asking-about-chinese-money

    @Darr, I remember times when property assessment by MPAC used to be 1% of value. What happened there either way? Who is pretending what?

  • Darr Robbins | 24 May 2015, 11:03 PM Agree 0
    @JohnS, I read you well.
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