Is Real Estate in Toronto & The GTA Facing a Housing Bubble?
Gaetana (Nella) Lanzellotti* Comments on The Housing Bubble Predictions of the Real Estate Market.
It has been 10 years since we have been hearing about the "The Bubble" and yet Metro News reported this week (June 4th, 2015) that prices in some Toronto areas of the GTA have JUMPED 18% (on average) - no indication of a Bubble here.
For Torontonians, speculation on real estate and its viability is soon starting to ‘pick up steam’ as topics of the day stem toward predictions about the future of the economy and the housing market.
Although there are many opinions of the state of the housing market in Canada, indicators seem to demonstrate that our healthy market will continue so long as interest rates remain low and employment remains strong. Does that mean that there is no chance of a market adjustment? No, but it does reduce the likelihood of that happening.
For peace of mind, find a solution that fits within your own situation to make sound decisions-not just what works for everyone else. Create a plan that fits for today, and for long term stability. The media and news cannot control or influence all of the variables that impact the economy or the housing market. What it can do is ensure awareness to educate the consumer so they can form a sound plan which allows them to best prepare for their own challenges.
As a Mortgage Professional, I will take the time to understand your concerns and help you to build a home ownership plan that best accommodates your lifestyle and your future plans. By understanding what your options are and having a contingency plan, I can help you to be prepared for economic disruptions that may affect your life.
For more information on how to calculate the maximum amount that you qualify for based on your income when renewing or applying for financing on a mortgage, try this easy to use calculator.
* Sales Representative