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New CMHC stats show housing starts are down and suggest that the housing sector will not be a factor in economic recovery. The drop is explained in part by higher interest rates and stiffer mortgage qualification requirements.
Interesting discussion is included around an independent report that talks of the potential for a housing bubble in several urban markets. It also points out that historically "house prices have tended to hover within a narrow range of between 3 and 4 times the annual median income" but that currently they are from 4.7 to 11.3 that amount.
Tuesday, August 31, 2010
Friday, August 27, 2010
THE FUTURE OF REAL ESTATE
Just picked up an article from the Seattle Times which I have posted on my Facebook page and Linkedin site. Be sure to read it!
It says in plain language that "People shouldn't look at a home as a way to make money, because it won't". It points to the current dip in activity as the new reality in the market for the years to come.
"Wealth generated by housing in those decades (the second half of the 20th century), particularly on the coasts, did more than assure owners a comfortable retirement. It powered the economy, paying for the education of children and grandchildren, keeping cruise ships and golf courses full and restaurants humming. That era is probably gone for good."
This article is well documented and goes a long way to explaining what may lie ahead in the industry.
Enjoy!
It says in plain language that "People shouldn't look at a home as a way to make money, because it won't". It points to the current dip in activity as the new reality in the market for the years to come.
"Wealth generated by housing in those decades (the second half of the 20th century), particularly on the coasts, did more than assure owners a comfortable retirement. It powered the economy, paying for the education of children and grandchildren, keeping cruise ships and golf courses full and restaurants humming. That era is probably gone for good."
This article is well documented and goes a long way to explaining what may lie ahead in the industry.
Enjoy!
Wednesday, August 18, 2010
Where is the Market?
I am posting articles that I find on the Real Estate market to my Facebook and Linkedin sites as a way of trying to keep readers informed as to what is going on out there. As a former educator I have always had an interest in NEWS and believe by following it closely one can stay on top of current trends.
Two new articles posted this week, one entitled 'Personal Finance: The retirement process', is a great article for Baby Boomers and how they can prepare for retirement so that when the day arrives they have everything in order. Such novel suggestions as; "One the day that you retire, you'll want to spend a lot of money", gives readers a lot to think about!
The second article 'Existing home sales fall, new sales tax blamed', gives a brief update on the possible impact of the HST on house sales in Ontario and BC. As we weather another slowdown in market activity here in the Okanagan I try to collect articles like this to give readers an idea as to what is happening.
Stay tuned!
David
I am posting articles that I find on the Real Estate market to my Facebook and Linkedin sites as a way of trying to keep readers informed as to what is going on out there. As a former educator I have always had an interest in NEWS and believe by following it closely one can stay on top of current trends.
Two new articles posted this week, one entitled 'Personal Finance: The retirement process', is a great article for Baby Boomers and how they can prepare for retirement so that when the day arrives they have everything in order. Such novel suggestions as; "One the day that you retire, you'll want to spend a lot of money", gives readers a lot to think about!
The second article 'Existing home sales fall, new sales tax blamed', gives a brief update on the possible impact of the HST on house sales in Ontario and BC. As we weather another slowdown in market activity here in the Okanagan I try to collect articles like this to give readers an idea as to what is happening.
Stay tuned!
David
Thursday, August 12, 2010
August Issue: RE/MAX Western Canada Region Update
The August issue of the RE/MAX of Western Canada Region Update is now online!
With your success in mind, the Region Update continues to provide all the content you expect from RE/MAX of Western Canada, but is now available in an easy to navigate, always available website.
In this issue:
· TD Referral Contest
· Quest For Excellence Bursary Program Changes
· Special Events Team Booking Procedures
· Professional Development Retreat Info
· …and much more!!
Check it Out Today!
With your success in mind, the Region Update continues to provide all the content you expect from RE/MAX of Western Canada, but is now available in an easy to navigate, always available website.
In this issue:
· TD Referral Contest
· Quest For Excellence Bursary Program Changes
· Special Events Team Booking Procedures
· Professional Development Retreat Info
· …and much more!!
Check it Out Today!
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