Admin

Five Reasons Why the Canadian Housing Market Won't Crash; An Interesting Read

By
Real Estate Agent with RE/MAX of Nanaimo

I just read this article by Larry MacDonald of Canadian Businesswww.heasliphomes.comwww.heasliphomes.com In it he reviews five reasons why the housing market in Canada won't crash. I have to say he made a very strong case on all five. He certainly is bang on when talking about the differences in local markets. As a resident of Nanaimo, I immediately make the comparison with the insanely high prices in Vancouver and can agree with him whole heartedly.

 

Also of great note is the difference between Canadian and US housing markets with Canada having greater recourse rights and the fact that the subprime mortgage market was far less advanced in Canada. These are valid points that made a huge difference with regard to the last crash and how we Canadians fared as a nation.

 

At any rate I feel that this is a must read so am giving you the link. This would be a great topic for discussion amongst both Canadian and American ActiveRainers and I look forward to seeing the commentary.

 

Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Somehow I think the market is connected to the economy in Canada also. If the economy sucks it has to reflect in Real Estate.

Feb 02, 2012 08:44 AM
RhondaHeaslip NanaimoRealEstate
RE/MAX of Nanaimo - Nanaimo, BC

Bill,

I do believe absolutely that the two are intertwined. In my local marketplace, we have been on the upswing. As I noticed my business begin to flourish, I was also hearing from clients in other fields of work that their business was picking up as well. You make a good point.

Feb 02, 2012 08:50 AM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

The Canadian economy is doing well so we are quite fortunate with that.

Feb 02, 2012 12:49 PM
RhondaHeaslip NanaimoRealEstate
RE/MAX of Nanaimo - Nanaimo, BC

Brian, Yes, we have been very fortunate; 2012 is looking very promising!

Feb 02, 2012 01:13 PM
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

He does make some good points, it's very difficult to predict anything these days though with the global economy being so intertwined. an event half way around the world can have serious repurcussions here. I remain confident though.

Feb 03, 2012 02:40 AM
RhondaHeaslip NanaimoRealEstate
RE/MAX of Nanaimo - Nanaimo, BC

I agree it can be difficult to predict. The market here feels stronger...How about in Ontario?

Feb 03, 2012 05:23 AM