I know most people are worn out over talk of the ecomomy. Especially negative information. Well here is a fair, fact based article from The Golbe's Report on Business...
In summary Canadians should Cheer up. By comparison to the US where I was last week in NYC at a real estate conference. I heard of markets where over 50% of listings are foreclosures, and prices have been dramatically beaten down. Even within this poor news there is good news. Some US markets are actually forcasting that they have reached bottom and sales figures over two consecutive months in several major US markets have risen. This is a good sign that prices have leveled out and a housing recovery is underway in those US markets.
Closer to home, as commented in earlier posts, NOTL has not experienced an over supply of homes and has not had any increase in the number of foreclosures brought to the market. The town is more sheltered to job loses and most residents have been out of the work force for many years. NOTL provides an investment safe haven. Real estate values remain stable while global markets adjust. International buyers are attracted to this insulated environment and we must encourage international buyers to chose NOTL.
The environment is ripe for a healthy housing market for years to come. Savy buyers will get in early.