The Economic Impact of Housing

According to CREA, the average home sale generates an additional $32K in consumer spending: moving, storage, new furniture, appliances, renovations, decorating, landscaping, repairs, etc. The transaction itself involves many professions, such as lawyers, real estate agents, and surveyors. There are the title insurers, home insurers, and mortgage companies. And let's not forget the taxes (LTT, GST/HST, PST/QST/RST/SST).

Housing has a broad multiplier effect on the economy.

Source: Real estate creates jobs (National Post, Post Homes)

 
Posted by Anthon Pang, Sales Representative, e-PRO, SRES on 07/28/2007 10:38 AM   Comments (1)   ,  

1 Comments on The Economic Impact of Housing

Housing has an impact that many people do not even know. It has an impact that can make or break an economy.  With the report recently released, I am curious to see what is said.

07/28/2007 10:45 AM by Open Home Mortgage - Georgia's FHA Loan Expert (Open Home Mortgage - Georgia FHA Loan # 1 Lender)

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Real Estate Agent: Anthon Pang, Sales Representative, e-PRO, SRES (Right At Home Realty Inc., Brokerage)
Anthon Pang, Sales Representative, e-PRO, SRES
Brampton, ON
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Right At Home Realty Inc., Brokerage

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