Canada among world’s four riskiest housing markets

Melanie ConsMortgage Talk Canada

by Michael Heath Housing market dangers are “especially acute” in Australia, Hong Kong, Canada and Sweden, Oxford Economics said, noting this has historically posed a threat to economic activity. “In all four, valuations are very elevated, there has been a lengthy housing boom, debt levels are high and there is a significant share of floating rate debt,” Adam Slater, lead … Read More

Toronto has rebounded

Melanie ConsMortgage Talk Canada

Good news for Toronto mortgage brokers—the market appears to have rebounded. Numbers released by the Toronto Real Estate Board for the month of August reveal an 8.5% boost in sales over the same month last year, signifying an adjustment to market realities spurred by B-20 and the Fair Housing Plan. In total, 6,839 homes were sold throughout the Greater Toronto … Read More

Canada is third most overvalued country for real estate: Economist

Melanie ConsMortgage Talk Canada

Global index says MetroVancouver’s home prices are 65 per cent higher than they should be Canada has been ranked the world’s third most overvalued country in the world for real estate, at 56 per cent higher than it should be based on typical incomes, according to a global house price index by The Economist. Canada was beaten only by New Zealand and Australia in the rankings by the … Read More

How To Live Below Your Means

Melanie ConsMortgage Talk Canada

One key thing that all people who have financial freedom have in common is that they live below their means. For example, Warren Buffet is worth 10’s of BILLIONS of dollars and he still lives in the same house he bought in 1958 for $31,500! Getting in the habit of living below your means is important. Here’s some tips on … Read More