The government continues to lower its borrowing rates to stimulate the economy, but we can only expect an upturn once we start spending, according to Benjamin Tal, senior economist for CIBC. The public, however, isn't spending because of their fears in the economy. It appears we are now caught up in the old classic chicken and egg scenario! We don't spend due to the economy, but the economy won't ...
Posted by Sean Kavanagh
on January 28, 2009
According to latest figures from the Canadian Real Estate Association, house prices across Canada have dropped 11 per cent since the peak in May of $316,896, down to $280,880 in November, The drop is weighed more heavily in markets that experienced drastic upswings in property values.
Benjamin Tal, a CIBC World Markets economist said that "it was back to reality in 2008", referring to the unrealistic ...
Posted by Sean Kavanagh
on January 6, 2009
"How quickly the tables turned!" is the response of most economists when faced with the question about the current Canadian real estate market. Experts have seen markets swing from a seller's market to a buyer's market before, but not quite this quickly.
CIBC World Markets economist Benjamin Tal said we have moved from a seller's market to a buyer's market "in a matter of months." Tal continues ...
Posted by Sean Kavanagh
on January 4, 2009
For all those first time buyers or those who have been waiting for the right time to move into a bigger household, now is your time. With housing prices dropping and interest rates at record lows, now is the time to consider purchasing a home. House prices across Canada fell nearly 10 per cent and sales slipped 42 per cent in November compared with the same month last year, a drop the Canadian Real ...
Posted by Sean Kavanagh
on December 21, 2008