Real Estate News Headlines // April 29th 2015

Jethro Seymour, one of the Top Toronto Real Estate Brokers, provides you with Canadian real estate news headlines.


The Motley Fool Canada

In the last decade, it’s been good to be a homeowner in Canada.
The average price of a house has more than doubled, going from $200,000 to more than $400,000. That’s a return of more than 7% annually, more than double the historical return from the asset class. This has led to thousands of real estate millionaires, especially in Toronto and Vancouver, where properties in good neighborhoods regularly change hands for more than $1 million.
But what if the party is on the verge of coming to an end?

The governor of the Bank of Canada says he didn’t mean to surprise markets in recent months with his stunning interest-rate cut, worrying real estate projection and the grim adjective he chose to describe the country’s economic performance.

Alberta led all provinces in real gross domestic product growth last year at 4.4 per cent, Statistics Canada said Tuesday.
Nationally, GDP rose 2.4 per cent in 2014, up from 2.1 per cent the year before, it said.

When it comes to assessing the state of Canada’s housing economy, there are several factors that should be considered, according to brokers.
“I think the changes the Bank of Canada has made in the past few years have helped avoid the same fate as we saw in the United States,” James Harrison, president of Mortgages.ca told MortgageBrokerNews.ca. “They’re a lot stricter these days and buyers have to qualify at the posted interest rate.”

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