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Housing Industry Has Concerns with New Federal Budget

Mar 7, 2010 19:39 -

Although the most recent Federal budget announcements were mostly met with approval by housing industry analysts, there were concerns that some calls to make housing more affordable were not heeded by Flaherty.
For instance, while the budget retained the first time homebuyers tax credit and the new ceiling on the amount homebuyers can pull from their [...]

Dealing with Future Changes

Feb 19, 2010 8:35 -

With the change coming to the housing market, home buyers might begin to find themselves looking at less expensive houses in order to purchase a home according to the new rules.
What might happen as we are nearing the period when interest rates rise, we will see Canadians stretching their budget; however what happens is that [...]

Signs of a Cooling in the Canadian Real Estate Market?

Feb 18, 2010 9:05 -

Ottawa’s tighter mortgage rules, with a new harmonized sales tax in Ontario and impending rate increases should slow the Canadian housing market in the second half of the year, taking away any fears of a housing bubble notes analysts.
The Canadian Real Estate Association (CREA) reported Wednesday that resale home sales across Canada dropped 2.8% in [...]

Resale Market Dips Slightly from December

Feb 17, 2010 15:41 -

As if to help support talk that the housing market in Canada is not overheating, the CREA released data today that suggests that the home resales pace across the country is moderating. In January 2010, the number of seasonally adjusted resales dropped nearly 3% from the previous month.
Sales were up 58% from January 2009, but [...]

Mortgage Changes Affect on Future of Real Estate

Feb 17, 2010 9:12 -

With the new rules announced by Finance Minister Jim Flaherty we could have thousands of home buyers, especially, the young, first time home buyer finding it harder to acquire their dream house.
The new rules are expected to go into effect as of April 19th, and mean that borrowers must have higher incomes or larger down [...]

Rules Getting Stricter for Home Buyers

Feb 17, 2010 7:12 -

Finance Minister Jim Flaherty is tightening mortgage rules in order to crack down on speculators and discourage homeowners from taking on too much debt.
This is the attempt made to responding on the growing concerns that Canada’s housing market is getting too hot, although he stresses that there is no such bubble in Canada’s real estate [...]

Homes Sales Dependent on Low Interest Rates

Feb 10, 2010 8:30 -

The Canadian Real Estate Association (CREA) has revised its forecast for home sales for the year bringing it upward, and it is now citing better economic conditions.
CREA forecasts 527,300 sales this year, up 13.3% from 2009 levels. The previous forecast called for a 7% increase. The national average home price is forecast to rise 5.4% [...]

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