http://www.calgaryherald.com/business/real-estate/Housing+market+faces+2010/4047230/story.html

According to the website of realtor Mike Fotiou, of First Place Realty, there were only 711 December single-family home sales up to and including Thursday, for an average price of $439,892. There were 310 condo transactions for an average of $283,245.

In December 2009, there were 799 single-family home sales for an average sale price of $451,349 and 341 condo sales for an average of $288,640.

Guys,
I did follow this thread for a while since last 6 months. I have just booked a new detach house with meddalion at bramela , father tobin area(Brampton).
Man it was mad rush to book houses. They open new lot on 1st jan. within 3-4 days all houses on thier map shows red stars.( means sold/contract signed).

Thorugh semis are still avialble. Also they increase prices by 10k for the remaining left detach lots.
I was hoping to get house in castlemore area. But that area seems expansive. I find bramela /father tobin not bad in terms of facilites. Schools, hospital , golf course all near..
Also citi centre is not far. How people rate living in that area instead of castlemore .


infocan

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infocan

That is a good sub division - well connected with the highway.

Last month, few builders opened plan at Mississauga Road just north of Steels. All detached housed starting 600k and above were gone in first 2 days. Don't know where this upward trend will stop or slow down.

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A Delhite in Toronto

Delhite,
Thanks for sharing prices. 600k is out range. Brampton certainly is bit affordable. I go for Min Range Detach house On 34 lot. The prices started from 427k upwards.

But now from this week the same house prices starts from 437k+ upwards

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infocan

interesting reading

The threat of higher interest rates and record levels of household debt have taken a bite out of Canada’s new home construction sector, with a sharp drop in new housing starts foreshadowing an underwhelming year of growth.

Canada Mortgage and Housing Corp. said starts fell by 13 per cent in December, pulled lower largely by a 45 per cent drop in condo construction in Ontario. New home construction is a cornerstone of the economy, and a weaker market in 2011 is expected to be a drag on economic growth.

more here

http://www.theglobeandmail.com/report-on-business/economy/housing/housing-starts-drop-as-debt-rate-worries-loom/article1865287/

We are different and not irresponsible like Americans?

Home-equity loans surge twice as fast as mortgage growth: BoC

Finance Minister Jim Flaherty singled out the rapid-fire growth in home-equity loans as a cause for concern and that was one area the federal government may target should it move to try to cap household debt levels.

http://www.financialpost.com/news/economy/Home+equity+loans+surge+twice+fast+mortgage+growth/4087788/story.html

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Q is - how many people used their house as an ATM , and are now trapped in very nasty debt instruments? It seems tighter mortgage rules are coming soon.

Quote:

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Originally posted by rahul_singh23

We are different and not irresponsible like Americans?

Home-equity loans surge twice as fast as mortgage growth: BoC

Finance Minister Jim Flaherty singled out the rapid-fire growth in home-equity loans as a cause for concern and that was one area the federal government may target should it move to try to cap household debt levels.

http://www.financialpost.com/news/economy/Home+equity+loans+surge+twice+fast+mortgage+growth/4087788/story.html

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Q is - how many people used their house as an ATM , and are now trapped in very nasty debt instruments? It seems tighter mortgage rules are coming soon.

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MK