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Archive for July 2011

July 2011 Real Estate News

Canada’s Housing Market  - Is there a “Housing Bubble” in Canada?

Read about this and more in my monthly news. Read the rest of this entry »

Housing market facing ‘modest’ correction over next two years: TD

OTTAWA — Canada’s housing market is set to undergo a “modest” correction, with resale activity poised to drop 15.2 per cent and average prices likely to fall 10.2 per cent over the next two calendar years, according to a report released by TD Economics Wednesday.

“A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first-time home buyers are expected to be the chief culprits behind the slowdown,” said the report, prepared by deputy chief economist Derek Burleton and economist Sonya Gulati.

But the national numbers will hide considerable regional differences, they added.

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