CREA makes it clear recent numbers are skewed
The Canadian Real Estate Associations recent report on home prices admits that they may be misleading. As discussed before many times right here, National statistics mean very little to those who want to invest. They make great headlines but have little to do with decision making for real estate investing. Especially in towns like Barrie, Collingwood and Orillia. CREA is a national real estate body that produces statistics that always gets the headlines.
I like to think of the Canadian housing statistics as a giant bed sheet spread tight. If you but a ball in the middle, it will bring down the whole sheet, but where the ball sits, will be the lowest. CREA admits that Vancouver which has seen sales declines of about 40% year over year may be "skewing the national average". Vancouver is the ball right now.
What does that mean for us who want to buy an investment property in Orillia or Barrie? Very little. It can certainly scare you a bit, but in reality home prices in Vancouver have little to do with home prices in Innsifil. The focus should ALWAYS be on the micro-economics of the region, not national statistics.
A small town that gets 300 new employees means a lot more then a 40% decline in home prices in Vancouver.
Mana Investments ( www.manainvestments.com) can walk you through all the complexities of investing in real estate for the first time. We have developed tried and true options to help you find, buy, and manage your investments. We focus on Barrie, Orillia, Collingwood, Innisfil and Midland because from our economic research we believe that these towns have massive growth potential over the next 10-15 years. We firmly believe and TEACH that real estate is about education....not speculation. For information on upcoming seminars please visit www.educatenotspeculate.com
For more info: (705)-812-1033
Email: mark(at) manainvestments com
The Six Steps to Success - www.sixstepstosuccess.com - Goal Setting for real estate Agents. Get to your financial goal quicker...Helping you achieve success in goal planning.
Comments(1)