Genworth Financial has published there summer 2007 "Housing Outlook" that provides insightful analysis of the Canadian real estate markets (nationally, provincially, and for major cities) as well as provides their predictions for the next few years.
The "Housing Outlook", according to Genworth Financial, look strong for the next few years with stead growth in home values as well as sales volumes (with a slight exception of new home sales in 2007). They sight economic factors like the strength of the Canadian Dollar and the growing GDP, personal incomes, and a variety of other national and regional factors in support of these views.
The price increases that they are predicting are higher than I was expecting, so if you are currently renting it would be a good idea to find out if you can afford a home and buy now before you are priced out of the market. a 0% down mortgage may have an insurance premium but it is, most often, worth it if you plan to live in the home for a few years, especially if the prices increase as Genworth predicts.
I am posting a copy of the Toronto Housing Outlook on my Toronto real estate "Market Watch" page for anyone to request. You do need to provide a valid email address as that is how it will be sent to you. Your privacy is assured and I will not send you endless spam or sell, give or otherwise disseminate your information to anyone except where required by the laws covering Ontario.
Currently renting? Do you want to know if you can afford a home? Call me at 416-278-2335 and we will find out with the help of one of my great mortgage professional. No obligations and credit issues may not be as big an issue as you thought, if you have credit issues.
Monday, July 30, 2007
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