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Mortgage Broker News | 15 Nov 2016, 10:02 AM Agree 0
This is how the new mortgage rules have impacted housing markets across the country
  • TWH | 15 Nov 2016, 12:05 PM Agree 0
    The THIRD word, carefully chosen by CREAs legal team years ago, in each monthly press release is "Statistics" and it has appeared in each month's release as the third word for years. CREA does not release data and the "Statistics" are generated to protect their members from business loss, if the incompetence of their membership was ever exposed.
    CREA leaves out over 60% of the data from the "Statistics" it releases. This is one of the primary reasons Housing Bubbles in Canada cause so much damage.
    CREA added $23 million in trading volume to REBGV residential sales numbers in October and that raised the Average National Selling Price in Canada by over $500 alone. Now either REBGV is misleading the public or CREA is.
    There is a reason why a REALTOR must reference CREA or their Real Estate Board if ever talking about these numbers. It's so they cannot be charged by the provincial regulator for deceptive comments and misleading the public.
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