Friday, December 14, 2012

Canadian Real Estate Advice

Since the financial meltdown of 2008, real estate’s been the asset of choice. In fact even earlier – with Nine Eleven – most people started falling out of love with mutual funds and tech stocks, and retreated to the property womb. Thus began the greatest housing boom in Canadian history.

But all booms end. And now that 70% of us own some, financed with an ocean or mortgage debt, real estate’s the new Nortel. Will 2013 be the year everybody gets squished when the elephant rolls over?
That depends on you.

Here are five housing trends to mull.

Pent-up demand.
 Not from buyers this time, but sellers. After all, last year brought new mortgage regs, tighter banking rules, slowing sales and the first negative media stories about real estate since the bust of the early Nineties. As a result, legions of sellers withdrew their properties rather than extending listings and risk getting vultched in a crappy market. As 2012 ended, there were nothing but pooches for sale in many neighbourhoods. It was like going to a retirement home  looking for action. (more)

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