real estate market: Recent Changes in the Real Estate Market
- 06/16/11 07:33 AM
Recent Changes in the Real Estate Market in Nova Scotia, Canada Maximum amortization Periods have dropped from 40 years to 35 years to 30 years. This means larger monthly mortgage payments. As a result, it is more difficult for new buyers to afford a mortgage. Nova Scotia prices have dropped 1% to 2% in the past year. A house that sold for $100,000 is now selling for $98,000 or $99,000. Even with the price drop, Nova Scotia housing is still overvalued by about 7%. This according to Benjamin Tal at a recent address on housing markets & local economic trends. Mr. Tal is … (4 comments)
real estate market: Where are we in the Economic Recovery?
- 05/25/11 08:49 AM
Today, I attended a seminar about the North American Economic Recovery. Apparently, the American Federal Reserve, the Bank of Canada and the governments of both countries, don't know what's going to happen. We are in an unusually, uncertain economic situation. The best advice is don't take chances. There are several encouraging trends, but they are baby steps. Americans are beginning to save instead of borrow. The labor market is beginning to slowly recover. Manufacturing is growing. Canadians have a debt to income ratio of 148%, most of which is in mortgages. Interest rates are expected to rise, but because consumers are already financially exhausted, … (4 comments)
Recent Changes in the Real Estate Market in Nova Scotia, Canada
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