For millions
of Canadians looking to buy or sell their home, the most important unanswered
question is: Where is Canada’s Real Estate market heading? Canadians are not
sure if the market is heading in the right direction or if it will come
tumbling down in 2017. Most published reports and journals discuss about the
flattening out of property prices in the real estate market. Apparently,
certain areas in Canada are already witnessing a decline in prices and sales activity,
while other parts appreciate the price gains, albeit at a slower speed than
seen in the past.
Housing
markets are susceptible to bubbles, especially when compared to financial
markets. This is because of the large transactions and carrying costs associated
with owning real property. But recently, the combination of regulations and low
interest rates that make it easy to access mortgage financing has forced a
shift. The influx of borrowers in the real estate market has in turn exerted
pressure on the market’s demand.
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