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Mortgage Broker News | 08 Jun 2011, 09:00 AM Agree 0
Toronto home sales – and, indeed, its brokers – are bucking CMHC projections for a “slower spring,” pointing to year-over-year growth more than doubt those conservative estimates.
  • Ian Murray, AMP | 10 Jun 2011, 01:18 AM Agree 0
    It would appear, based on the Toronto MLS statics, the changes brought into effect on March 18th are not slowing down the Toronto real estate market. That comes as no personal surprise to me. I have long suggested the influences on the two major Canadian markets (Toronto and Vancouver) are driven by the influx of East Asian (and Asian) immigrants and their demand for decent housing. In my personal opinion, many of these new buyers have ready access to "cash" and their purchasing appetite is not impacting by the recent changes we have seen in lending guidelines. The adverse impact, by these changes, is being felt mostly by lower income buyers just entering the housing market and in markets that are desperately in need of a stimulus and not a kick in the pants. Perhaps the Federal government would realizes its goals if it help to promote new Canadians to immigrate into other areas of Canada who would welcome them with open arms. We certainly would welcome them here in the east.
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