Friday, February 3, 2012 at 2:45PM City of Guelph staff have recently met with the local homebuilders to discuss the decrease in housing starts last year. Home builders expressed that a small part of the reason was a lower demand but a sizeable reason is the lack of available vacant land for new builds.
For more details the full article in the Guelph Mercury by clicking here.
Tuesday, March 22, 2011 at 12:44PM There's been a lot of changes in the mortgage industry in the past few months as Canadian legislators try to prevent Canadians from borrowing money they may not be able to afford to borrow.
As of last week, 35 year government backed insured mortgages have been discontinued and the highest amortization period one can apply for is 30 years.
Next month the government will be eliminating guarantees on home equity lines of credit.
For more details check out an article posted in the Guelph Mercury by clicking here.
Wednesday, March 16, 2011 at 4:07PM As the housing markets slowly regains it's strength, uncertainty in resale homes and new constructions are providing poor predictions of future housing trends. Although the predictions are weak to say the least, here are a few provided by CMHC.
- Current home sales suggest that Ontario will be hard pressed last springs 2011 activity. Predictions are that they will grow modestly.
- The Ontario econonomy is lagging in comparison to other provinces and is expected to do so going into 2012.
- Demand for rental ownership and rental housing is strong and is expected to stay strong into 2012.
- The average value of a home is expected to grow modestly with inflation.
For a more detailed look of thes predictions check out the following link.
Tuesday, February 8, 2011 at 4:42PM Despite a hefty recession, house values and new constructions have increased more than anticipated in Guelph and in Canada in general. This is raising a lot of concerns from professionals in the industry that perhaps the housing market in Canada is inflated. Interest rates are at a record low and Canadians debt compared to their equity ownership is suffering.
As a result many politicians are trying to push to tighten up mortgage regulations to insure we do not head down the same route as our southern neighbours.
For more details on this click here to read an article featured in Guelph's Snap magazine.
Tuesday, February 8, 2011 at 4:31PM CMHC has reported that mid-to-low market houses have receovered well in the past year in the City of Guelph in terms of new constructions. The higher end of the market has not recovered as well due to higher maintenance costs associated, their environmental impact and most importantly less purchassing power by high income earners.
For more details click here for the Guelph Mercury article written by Drew Halfnight.
Friday, February 4, 2011 at 7:27AM Not many people would argue that house prices probably won't rise too much over the next few months and/or years. The 2000's was a decade of unusual house value increase and many are trying to predict what is to come. At Inspirah, we don't like to play the predicting game, but it's always interesting to listen to the opinions of professionals in the industry. Here's an interesting article if you're interested in reading about how the real estate market could potentially fall up to 25% in the near distant future.
Click here for full article from The Star.