Back to Home PageWelcome Guest! Register | Login | Home | Contact Us | Site Map | Advertise | FAQ | Search
Canadian Desi
    Articles


        
   Home   Submit Your Article   Success Stories   Search

Similar Articles

Real Estate Bubble or Perpetual Boom
Tips To Negate The Bust Of The Real Estate Bubble And Make It A Period Of Perpetual Boom Prospective real estate investors are worried about invest..
Buying Real Estate
When it comes to buying Real Estate, proper preparation is one of the keys to success. Don't want to find yourself in a neighborhood you dislike..
CANADIAN GOVT. IMPOSES ADJUSTMENTS TO LENDING...
Ottawa, July 9, 2008 2008-051 Government of Canada Moves to Protect, Strengthen Canadian Housing Market The Government of Canada today announce..
PLACES TO SETTLE IN THE GTA
The Canadian housing market continues to benefit from still-low interest rates and a very solid jobs outlook. With the another interest rate increase ..
Finding Homes for Sale in Ottawa
Moving out on your own and having a house to call yours is a big step in life, though it is one that many people hope and wish to be able to take. Own..
An insight into Buyer Agency
As a new immigrant from other parts of the world including Asia and the Middle East, we are accustomed to paying a real estate agent when buying a hom..
Canadians' Investment Dilemma: The Mortgage Or The RRSP?
It's not hard to figure out where Canadians are spending their investment money these days. Real estate sales have hit record levels for several year..
Mortgage Challenges What Canadian Market Faces TODAY!
Enclosed please find a "brief synopsis" of mortgage challenges what Canadian Market is suffering these days in various market segments. Self-employ..
How to Buy a Car in Canada? July 08
Critical Look at Car Buying: Lease vs Purchase Fiance The best way to buy a car is to pay cash for it. The discounts are huge. Alternatively take t..
Buying a Home: What You Can Afford
Buying a Home: What You Can Afford If you're thinking of purchasing your first home, you probably have a lot of great ideas about what you'd like - ..
How to save for a down payment
Owning your own home has a lot of payoffs, especially these days when mortgage rates are still among the lowest in 30 years. There are also many housi..
Buying a Home: What You Can Afford
If you're thinking of purchasing your first home, you probably have a lot of great ideas about what you'd like - such as several thousand square feet ..
REAL ESTATE SCENARIO IN INDIA
The Real Estate scenario in India is undergoing a transformation. With lifestyles changing and nuclear families becoming the trend due to the work dem..
Mortgage Broker and Become a mortgage Broker
Unless you're switched on an understand specifically what's happening with the property market at all times, you will have to know where to find good ..
MORTGAGE 101
Mortgage 101 The purchase of a home is one of the biggest decisions and significant financial investments a consumer makes. It is extremely im..
Articles Groups
  • Canadian Immigration & Citizenship
  • My Experiences with Canada
  • About Canada
  • Tips for job findings
  • Housing and Mortgages
  • Money Matters
  • Tips for newcomers to Canada
  • RESP & Insurances
  • Education in Canada
  • Miscellaneous
  • Are our Home Prices in GTA going up or Down in 2008?


    By DP_gta





    Is the US housing mess likely to impact the value of our homes? You decide. Here are two weekend articles

    http://www.reportonbusiness.com/servlet/story/RTGAM.20080118.wcover19/BNStory/robNews/home
    http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080118/recession_housing_080118/20080120?hub=TopStories

    My Take:

    Will it happen here? When interest and stock prices go down, gold and homes price go up. Gold prices have gone up but homes prices are steady. Yes demand is high. Thanks to influx of immigrants in Ontario, recently they seem to be going more to Alberta :(

    US is going though a recession for sure, chances are it will effect those Canadian states that depend on US markets. Like Ontario, our manufacturing base services mainly the US market. All our other industries service those industries that depend on US market. So how do we know the US recession is beginning to bite us? It depends largely how the Ontario retail price index behaves. If people fear loosing their jobs, they spend less on non essentials & CPI goes down. I am looking at it right now it seems down, interest is likely to go down soon. It will free up a lot of easy credit which should spur spending and home buying. If the interest rate goes down but the CPI does not rise, due to prevalent fears of lay offs, then maybe the home prices will get hit. I am going to keep looking hard at the retail price index.

    I am generally not wrong. Last year in October when gold was $715, I said Gold will rise dramatically today Gold is $876. I know, few of us made money.

    Some hard facts of current US real estate market:

    * Subprime loans don't exist in Canada, (only 5%) but they have been around in the U.S. for decades. They were initially intended to help wealthy people buy second properties. But unscrupulous mortgage brokers abused it.

    * Predatory mortgage brokers targeted inner-city, African-American neighbourhoods, where they fudged property values and signed up thousands of borrowers without explaining the details of the loans. A study by the Housing Research & Advocacy Center, a non-profit group based in Cleveland, found that in 2005 nearly 60 per cent of all mortgages taken out by African Americans in the city were "high-cost loans" compared with about 34 per cent of those taken out by whites. Hue and cry broke when it started impacting whites.
    * Normally in US, 800k homes are listed for sale under foreclosure, currently there are 3.2 million foreclosure

    * A home selling in Detroit for $830 last year, now listed for $470k. Prices have slashed by 50% in some areas
    * A large number of vacant home are stripped bare by looters for their copper and electrical fittings
    * Street after streets of vacant homes are being demolished by the city, they fear they will used as drug grow houses or for other criminal use

    Thank you for your response and feedback.
     


    Discuss this article

    Article Rating is 8.6667 (Good).
    Rated by: 3 voters.
    How do you find this article?
    Excellent Good Average Poor Very Poor

    You can also Submit an Article and help other community members. Thanks.



     
    Web
    CanadianDesi
    Please Contribute!
    Write an Article
    Send Community News
    Create Photo and Video Albums
    Submit Good Pictures
    List Useful Websites
    Post Jobs
    Submit Events
    List for FREE!
    Businesses
    Classifieds
    Social Organizations
    Religious Places
    Employment Agencies
    Email Page
    Your Email
    Friend\'s Email

    Advertise Contact Us Privacy Policy and Terms of Usage FAQ
    Canadian Desi
    © 2001 Marg eSolutions


    Site designed, developed and maintained by Marg eSolutions Inc.
    //-->