Cautious optimism is on the lips of many Real Estate agents and economists. However, the last 12-18 months has certainly held some uncertainty in the housing market the outlook is looking much brighter for the Ontario home market.
The sub prime market has been avoided by Canada and Ontario What we have seen over the past 18 months was fear versus demand and fair market values relative to the true economic situation in Ontario. The stability is giving them a large footage
Here is my rational for Ontario home price appreciation for 2010.
Ontario home prices are valued. Despite a healthy appreciation in home prices in Ontario between 2001-2009 we have avoided the huge run ups (and drops) in prices seen in Alberta and British Columbia.
Ontario's housing supply appears to be inline or undersupplied versus the demand.
Canada has contributed almost 8.5% towards debt. While this is bad news for most taxpayers, borrowing to this degree will certainly cause price inflation. This will affect the price of the real estate.
The world economy appears to be steady or growing. The growth of China looks inevitable India grew at a rate of 7.9% over 2009 and desire 7% growth rate in 2010. The natural resources of Canada will take them a long way in financial stability.
The unemployment rate in Ontario rose sharply as a result of the US economic collapse though has since started to slowly decline. The unemployment rate currently sits around 8.5%, it averaged around 6.2% during the 36 months of 2006-2008.
Slowly improving consumer assurance and record low interest rates are bound to have a helpful impact on the spring 2010 housing market. The July law has come into some negative impact on the people but it is not so.
Where prices go beyond the summer of 2010 will really depend on how much and how speedily the bank of Canada intends on raising rates.
There are many lending options when buying a home. We have access to many private mortgage lenders. Contact your bestOttawa" target="_blank">ontariomortgagesuperstore.com/ottawa-mortgage-broker-ottawa-carleton-mortgage">Ottawa" target="_blank">Ottawa" title="http://ontariomortgagesuperstore.com/ottawa-mortgage-broker-ottawa-carleton-mortgage">Ottawa" target="_blank">ontariomortgagesuperstore.com/ottawa-mortgage-broker-ottawa-carleton-mortgage">Ottawa mortgage brokers or visit us at ontariomortgagesuperstore.com
Read More From Jamie Hanson
|
