Posted on: 05-07-12 09:44:07
Folks,
I've got three listings in my neighborhood (Mississauga Derry / Mavis area) and have not been moving for the last 30-40 days. The price doesn't seem to be off the chart compared what was being sold in the past.
Has the real estate slowed down at last ?
Do you see the same around your area ?
I see the "For Sale" sign more than usual. Is it really the school season or the soft real estate economy. I am getting to think it is the later..
Thanks.
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
The Mortgage rules are changing from 9 July 2012. You cannot get a 30 year Amortization anymore if you haver less than 20% Down Payment. And that will result in higher monthly payments which will negtively affect a lot of people to afford those houses from now on. So I really think this may drive down the GTA market to some point soon.
Rajesh Thomas
Mortgage Agent
Northwood Mortgage
Suite 300
7676 Woodbine Avenue Markham
Broker Lic: 10349
4165514428
4167885304
Email :
www. northwoodmortgage.com/rajeshthomas
Right, I am aware of the new regulations.
Is that what started slowing down already.
Even, if it slows down. How bad it is going to affect is something that lingers in many minds now..
Quote:
Originally posted by thomas23
The Mortgage rules are changing from 9 July 2012. You cannot get a 30 year Amortization anymore if you haver less than 20% Down Payment. And that will result in higher monthly payments which will negtively affect a lot of people to afford those houses from now on. So I really think this may drive down the GTA market to some point soon.
Rajesh Thomas
Mortgage Agent
Northwood Mortgage
Suite 300
7676 Woodbine Avenue Markham
Broker Lic: 10349
4165514428
4167885304
Email :
www. northwoodmortgage.com/rajeshthomas
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Just for your information. Market is not falling in Vancouver, just slowing down. May be on a little correctional mode. However, I don't see the prices falling yet. Houses in burbs are still in $550,000 and $650,000, hence unaffordable. Vancouver main is still out of reach for majority of the people.
It's the townhouses that are feeling the brunt. But hey! As long as people have jobs they are okay to keep living in the townhomes. But, at the same time I don't see the job market is falling considerably.
