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As a Realtor I am constantly reading about the Housing Market and its influences. On this page I will occasionally post housing news articles that I found interesting. My own comments are in blue. Deepti
My outlook for spring/summer 2008:
This spring the recent fluctuations in the stock market have had a moderating effect on the housing market in Toronto. However, strong continued growth in immigration has continued to put upward pressure on the housing market. The net effect of these two opposing forces has resulted in a stable market.
The bidding wars of last year will likely continue this year. This style of marketing based on the 'ebay' auction concept is probably here to stay for high demand properties and to trigger quick sales.
Going forward, the CMHC trends show that consumer confidence is still strong. Income and Employment are also strong. They are projecting a 3.8 % increase in the cost of housing in Ontario.
From Edge Newsletter - Orea - April 2008
Business real estate betters bonds in 2007
Real estate return on investment remained strong throughout 2007 according to results of the recently released ICREIM/IPD Canadian Annual Property Index. IPD, a leading commercial real estate performance analysis service, reported the Index saw a total return for 2007 of 16.1%, down from the 18.4% seen in 2006. However, property still outperformed equities and bonds, which returned 10.5% and 4.7% respectively. In Ontario, Toronto and Ottawa saw an increase in returns to 14.3% and 13.4% respectively.
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