Media release by TREB goes to show that the sales in Toronto & Suburbs have picked up steam compared to sales in the month of Feb. The figures however still show that the sales levels and prices are lower compared to March 2008. I believe record low interest rates combined with Buyer's market are the reasons for this upswing in sales. Usually, when the Interest Rates are high, home prices drop, and vice-versa. This time, both are low.....so I wonder if there would be a better time for Buyers???

There are some other positive signs like TSE closing with gains for over 2 weeks straight and our dollar above 0.80cents US. I know it is a bit early to get overconfident. However, any positive news is good and will go a long way in restoring public confidence to start spending, that will translate into jobs and improved economic conditions.

For all those who know Toronto and its suburbs and want to read the complete statistics, please click here: http://mississaugabramptonrealestate.wordpress.com

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Quote:

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Originally posted by Rajeev Narula

Media release by TREB goes to show that the sales in Toronto & Suburbs have picked up steam compared to sales in the month of Feb. The figures however still show that the sales levels and prices are lower compared to March 2008. I believe record low interest rates combined with Buyer's market are the reasons for this upswing in sales. Usually, when the Interest Rates are high, home prices drop, and vice-versa. This time, both are low.....so I wonder if there would be a better time for Buyers???

There are some other positive signs like TSE closing with gains for over 2 weeks straight and our dollar above 0.80cents US. I know it is a bit early to get overconfident. However, any positive news is good and will go a long way in restoring public confidence to start spending, that will translate into jobs and improved economic conditions.

For all those who know Toronto and its suburbs and want to read the complete statistics, please click here: http://mississaugabramptonrealestate.wordpress.com

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Quote:

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Originally posted by Rajeev Narula



There are some other positive signs like TSE closing with gains for over 2 weeks straight and our dollar above 0.80cents US. I know it is a bit early to get overconfident. However, any positive news is good and will go a long way in restoring public confidence to start spending, that will translate into jobs and improved economic conditions.

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Hi guys,

An updated released by CMHC today shows that housing starts moved up in March 2009, a sign that the market is starting to show more activity.

Here is the link:
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-04-08-0815.cfm

Regards,
Nitesh Kumar

March jobs data "not encouraging"

Canada's March job losses will not be encouraging, Finance Minister Jim Flaherty said on Wednesday in his now habitual commentary on the closely watched employment report on the eve of its release to the public.

"I expect the numbers will continue to be worse over the next several months," Flaherty told reporters in Oshawa, Ontario, according to a transcript of his remarks.

"I expect tomorrow's numbers to be not encouraging. When we lose jobs, it takes a long time to turn that around."

It's time, however, to start thinking about the likelihood that even when the worst of the financial crisis is over, the downward trend in housing prices will persist.

Hope this helps.

Do we still trust CHMC, NAR and Real Estate Boards?

If we talk about paper economy then it seems market is little better or stable. But real economy (jobs, export, GDP, new investments) is in really bad shape and no sign of recovery. Let wait for biggest bomb drop – GM and Chrysler

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Average home price will fall to $246,000 in '09: TD

http://www.financialpost.com/news-sectors/story.html?id=1474575&ref=patrick.net


TD economists expect the average Canadian house price to fall to about $246,000 in 2009, down 24% from the peak of $324,000 in 2007. As of February, the average nation-wide house price stood at $282,000, down 13% from its peak.

The report, released Tuesday, found house prices had been overshooting their fundamental value by about 9% since 2005 as speculation drove up prices and encouraged overbuilding.

"Declines in prices are now returning to fundamental-justified values. We estimate this process to be roughly half done, both in terms of time and value adjustments," the report said.

Quote:

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Originally posted by niteshk

Hi guys,

An updated released by CMHC today shows that housing starts moved up in March 2009, a sign that the market is starting to show more activity.

Here is the link:
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-04-08-0815.cfm

Regards,
Nitesh Kumar

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Isn't unemployment numbers a lagging indicator?

Share markets gaining for 5 weeks now.. consumer spending index up.. decline in car sales has flattened... California real estate bouncing back... GTA real estate bouncing back... avg salary increasing... Permits for new housing (which is investment) is increasing...

What else is being waiting for to finally say the economy has bottomed out and starting to reverse?