2010 - What's On The Agenda?
HAPPY NEW YEAR!
What will the Real Estate Market do in 2010? As usual, that's the million dollar question. Here's what I see from my perspective - in 2009 the real estate market finished very strong, mostly driven by low interest rates, bouyed by a rebuilding of consumer confidence. The stock market has cautiously rebounded as well and looks like it will continue to do so as long as the indicators don't show anything that register's too far from the expected. Canada's banking system remains healthy . . . the best in the world; the Canadian dollar is a bit too close to par with the U.S. dollar to get the manufacturing and forestry sectors humming; inflation seems manageable, (at least at this point); energy demands are strong; folks, in general, seem to have found a spending balance. To me, all these things indicate a cautiously strong general economy for 2010.
That cautiously strong general economy should translate into a steady real estate market without any 'land rushes' but with a steady, manageable growth in housing starts and in market sales. Of course, like always, segments of markets from area to area could perform quite differently than the over-all market . . . both out perform and have difficulty. That's where your Realtor and their imput come in. Be sure to speak frankly with your Realtor about your plans so they can advise according to what you are trying to accomplish.
Posted by Len Visser
on December 29, 2009