According to the governor of the Bank of Canada, the global financial crisis could have been avoided if every country had had a banking system like Canada's. He went on to say that the world would have been spared this global financial catastrophe if other international economic powers had a banking system "as sober and sensible" as ours. The World Economic Forum has recently rated Canada as having ...
Posted by Sean Kavanagh
on November 22, 2008
Have you been waiting for a time when home ownership would become affordable again? Now is that time! With housing prices as low as they are, it is now easier for the renters who always wanted to buy, for the young couple in the townhouse or condo that have been waiting to buy the larger house with a great yard, or for the family who have always wanted to afford a cottage....now is the time! For ...
Posted by Sean Kavanagh
on November 21, 2008
Burlington, Ontario: Although I reported last month that Burlington was holding steady in most categories, it seems the region is finally showing a downward turn and with increased inventory and decreasing prices, the market has shifted in favour of the buyer. Average prices were $368,268 in October 2007 to $322,088 in October 2008 representing a 12.5% fall from this time last year. There was also ...
Posted by Sean Kavanagh
on November 13, 2008
Oakville, Ontario: If you were ever looking for the right time to buy in Oakville, don't wait any longer as now is the time. With decreased prices and a large inventory of properties, this market has turned into a buyers dream! Average housing prices in Oakville have dropped from $541,683 in October 2007 to $461,882 in October 2008 representing a 14.7% decrease. Prices have also dropped from $495,121 ...
Posted by Sean Kavanagh
on November 13, 2008
The number of properties listed in some of Canada's major markets was down this quarter. This shift can be interpreted as a shift towards a more balanced sales-to-new-listings ratio. To achieve what would be considered a "balanced market", we look for the number of sales to equate to the number of houses put on the market for sale. Calgary, Edmonton, Vancouver and Montreal have all shown slight ...
Posted by Sean Kavanagh
on October 29, 2008
Burlington, Ontario: Although there is a lot of news permeating our print and airways regarding a softening real estate market, Burlington still seems to be holding strong. Burlington is still experiencing an increase in average housing prices for the month of September from last year to this year. Average prices were $329,416 in September 2007 to $370,479 in September 2008 representing a 12.47% ...
Posted by Sean Kavanagh
on October 15, 2008
For those of us concerned about how the much publicized American financial meltdown will permeate north of the border, we should all take some relief in knowing that a World Economic Forum Report on global competitiveness has rated Canada's banking system as the soundest system in the world. These statistics were released to quell the panic due to the global financial crisis and bank failures. To ...
Posted by Sean Kavanagh
on October 10, 2008
Recent popular belief is that Canada will fall into the disastrous economic situation that has crippled the U.S. economy. As our economy is affected by what happens south of the boarder, it is important to understand that we have been able to maintain a solvent banking system (where the U.S. has failed) and our government has implemented measures to prevent a collapse of our real estate market (no ...
Posted by Sean Kavanagh
on October 10, 2008