Sorry. This was wrong thread.

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Success is Never Ending and Failure is Never Final.

Everytime in the past few years when we expected the market to slow down, there was government "intervention" in the guise of "cooling" the market, that actually created a market frenzy and helped in increase of RE prices. Sometimes I wonder why does the government not make the change in rules effective immediately or give only a week or so. This time they gave almost 2 & a half months to alow the frenzy continue. My last few offers in Markham, Brampton and Toronto have all been in multiple-offer situation and I expect this to go on at least until 15th March his year. If the banks don't sell mortgages, how would they make money? RBC just last week declared 23% jump in their profits and the bulk of that came from ...guessed it right...mortgages. Scotia and COBC too declared massive jump in profits. I believe that our banks will continue to lend money RESPONSIBLY, irrespective of churning out statements of Canadians being overstretched...since they know what is in their best interest.

Irrespective of what the politicians or bank executives crow, you must understand that housing industry is very vital to the country's economy and several other industries depend on this. Irrespective of what economists say, there is a steady influx of immigrants into the country and eveyone needs a roof over their head. Every year, there is a demand for 40,000 NEW dwellings in the GTA owing to migration and immigration.

While I hope to see the pressure on prices ease a bit in the GTA after the March deadline, this is contingent upon the sellers coming out in the market. So far the ratio of listings to demand is not favourable to the buyers.

Real Estate market situations are very local as are individual conditions. Therefore, I don't have same advice for all first time buyers, rather specific to individual client.


And this is a link to RBC's survey: http://www.propertywire.ca/news/national-news/887-canadians-optimistic-about-housingrbc.html

and another on Vancouver real estate price increase: http://www.mortgagebrokernews.ca/news/breaking-news/vancouver-home-prices-to-continue-rise-over-next-three-years/76181

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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

The fix rate mortgage rates are decreasing. What people think. Will this helps the housing market. The investors are nervous. This is due to Japan nuclear crisis. The bond market is tied to fix rate mortgage market. The money is coming more into bond market.

http://ca.finance.yahoo.com/news/Banks-lower-some-fixed-capress-3978096421.html


ਤੈਅ ਦਰ ਬੰਧਕ ਦਰਾਂ ਵਿੱਚ ਕਮੀ ਕਰ ਰਹੇ ਹਨ . ਲੋਕ ਕੀ ਸੋਚਦੇ ਹਨ . ਇਹ ਘਰ ਬਾਜ਼ਾਰ ਵਿੱਚ ਮਦਦ ਕਰਦਾ ਹੈ . ਨਿਵੇਸ਼ਕਾਂ ਵਿਆਕੁਲ ਕਰ ਰਹੇ ਹਨ . ਇਹ ਜਾਪਾਨ ਪਰਮਾਣੁ ਸੰਕਟ ਦੇ ਕਾਰਨ ਹੈ . ਬਾਂਡ ਬਾਜ਼ਾਰ ਨੂੰ ਦਰ ਬੰਧਕ ਬਾਜ਼ਾਰ ਨੂੰ ਠੀਕ ਬੱਝਿਆ ਹੈ . ਪੈਸਾ ਅਤੇ ਬਾਂਡ ਬਾਜ਼ਾਰ ਵਿੱਚ ਆ ਰਹੀ ਹੈ .

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infocan

Customer fee to pay out mortgage doubles

http://www.cbc.ca/news/canada/british-columbia/story/2011/03/21/bc-mortgagepenalties.html
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Banks want to make sure you can not sell but stay on life time slavery or foreclosure.

Looking forward to see some comments on this point from mortgage "BROKERS" on this forum :-)



Can not sell even want to sell?
Customer fee to pay out mortgage doubles

LINK
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Banks want to make sure you can not sell but stay on life time slavery or foreclosure.

The CMHC is a driving force in the housing market. But critics warn its policies could fuel a U.S.-style meltdown.


http://www2.macleans.ca/2011/03/23/a-mortgage-monster/

This forum started since Sep 09 and since then Rahul and Ashedfc have bearish sentiments and market kept climbing up. Yeah eventually the real estate will come down a bit but I think there is a lot of room for it to go up. Correction will come but there will not be doomsday mainly because there is no game of subprime. If the real estate goes down in Canada every other investment will also come down so alternatives are not safe either. I can live without silver and gold but will be difficult to survive without an abode. If one thinks gold and silver is better alternative to real estate then as long as commodity market is rising real estate in Canada will keep going up. With US and Europe being down, unrest in middle east, Canada really makes an attractive market for investors. So put the money in BRIC or in Canada..If I have a lot more I will invest at all these places. Especially in Canada given the more risk at emerging market and politically unstable Russia.