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The CMHC Report vs. Bubble Talk: Calculator vs Speculator

By
Real Estate Agent with REMAX CREST REALTY WESTSIDE v60121

 

What News Means
What News Means

I try to read something newsworthy every day in the media and today there was a gross disparity of Real Estate related thought.  Long weekend?  Perhaps!  So what I learned today was that Homeowners belong to a majority of those who pay their credit card bills on time (65% of the time), compared to non-homeowners who apparent don't as much (45% percent of the time).  Read it for yourself here.

After I wet my appetite, I got reading something a bit more serious.  And, on a quest for knowledge and "nerdyness," I picked up the CMHC third Quarter Housing Market Outlook report.  Striking me as a far more reasonable outlook than the budding leaps of popular media, I think it's worth linking to the report below.  Also, I found a little nugget that should be worth reading, namely:

Canada Mortgage and Housing Corp. (attached just below this paragraph) predicts that existing home market conditions will remain balanced during the next two years as MLS sales ease and inventory levels remain elevated. It forecasts that “existing home sales will be in the range of 450,000 to 485,700 units in 2010, with a point forecast of 463,800 units. In 2011, MLS sales will move lower and are expected to be in the range of 425,000 to 490,700 units, with a point forecast of 456,000 units.”  It says that with an improved balance between demand and supply, the average MLS price is expected to edge lower through the end of 2010 and then rise modestly in 2011.  (Reference: REM Online).  I attach the full report below, so you don't have to leave me to read it ;)

2010 Fall - CMHC Housing Market Outlook - 61500_2010_Q03

REFERENCES:
REM Online, September 03, 2010.
REM Online, August 25, 2010.
CMHC Online, CMHC third Quarter Housing Market Outlook report.
Image Credit, Google Image Search.

 

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TeamYVR Real Estate Agents

JARK KRYSINSKI, REALTOR
®, BA.Hon, ABR, IRES, 100% CLUB, IMSD®, LLB
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