Canada's housing market healthy again after slight "pause" in summer: Re/Max

Discussion in 'Economics' started by Kassz007, Oct 5, 2010.

  1. http://ca.news.finance.yahoo.com/s/...using-market-healthy-slight-pause-summer.html


    "Canada's housing market looks healthy going into the final three months of this year after a summer "pause," one of the country's largest real-estate agent networks said in a report released Tuesday."


    "Re/Max said it anticipates fewer sales than in the surprisingly strong fourth quarter of 2009 but prices are expected to hold up."


    "The Re/Max report found there hasn't been a big influx of listings, while demand has normalized after a very hot period in late 2009 and early this year."


    "It also says there was a good sign from the number of higher-end properties sold this summer in both smaller and larger centres, especially in the Ontario cities of Sudbury and Kitchener-Waterloo, Kelowna, B.C., and Winnipeg."


    "It says the luxury property segment is historically one of the first to show problems when a market is softening and that didn't happen this summer.

    Re/Max said it expects more normal conditions going forward, with housing sales gaining momentum as the economy improves."



    Canada bears still putting their money behind a housing collapse?
     
  2. 1) ReMax is a "perma-bull". What else would you expect from them? :confused:
    2) There's still time for the Post-Olympics downturn. :D
     
  3. :p Was expecting this comment. Out of curiosity - how much time needs to pass before we can take this off the table? :D
     
  4. ?........12:00:01am, Chicago Time, New Years Day, 2011. :cool:
     
  5. a real estate broker says the real estate market is healthy? hmm...


    canada = epic short
     
  6. longer we wait for a crash - worse it will be

    Canada did everything exactly like US and blown bubble even bigger
    It would be just outright stupid to expect a different outcome

    what I can't understand - why you post press releases from realtors as an evidence?
    sales are down 25%. that's 80 million lost in comission just in Toronto just in 1 month
    Can you imagine how desperate they are to pump?
     
  7. Wow. In other news, Free-market Capitalism is the best way to prosperity according to Larry Kudlow.
     
  8. Junk food good for your health, says McDonalds rep :D

    Canada looks a bit like Australia but not quite so bubble-icious. You can tell by the way they ignore stretched valuations and think they are some unique exception, they are getting cocky that their banking system and regulation is so superior to the foolish Americans and Europeans. Well it was, but high enough prices will make any system into a dangerously unstable bubble. Price/income and price/rent ratios are getting out of whack there too and the further it goes the more painful the inevitable adjustment will be.
     
  9. using 10 year fixed rates, which is what one should use to sleep well, rents in sydney cover around 40% of cost of owning, assuming there is no maintenance required. Prices must grow 5% a year to break even in maintenance free scenario. Tax laws support "investment" in property. Also there is significant immigration helping prices. New immigration jobs help prices and higher prices help create more jobs for immigrants and these new immigrants buy more and at higher prices and higher prices cause of more immigration etc :D
     
  10. S2007S

    S2007S


    HA

    A few months ago I was going to few open houses here and there and would of course ask the foolish broker if now was a good time to buy, his answer I knew already was yes, but I thought back to 2006, 2007 and 2008 right about the time prices started to come down and thought this is the same fucking idiot who thought in 2007 was the best time to buy as well.

    Its still not the right time to buy, prices are going to fall another 20-40%, the recession is far from over people.
     
    #10     Oct 5, 2010