Cheaper homes go fast April marks an influx of new listing in Orleans. Our listing thermometer is hot red. This is no news – it is a familiar pattern all over the country – spring comes and whoever wants to…
Tag Archive for Ottawa
2012 Federal Budget: Friendly towards mortgages
by Vasko DeLev • • 0 Comments
It’s business as usual Minister Flaherty did not deliver yesterday any earth shattering news affecting the mortgage industry. Lenders and mortgage brokers were worrying that rumoured reduction of the maximum amortization from 30 to 25 years and an increase of…
Forecast: Moderation in the housing market
by Vasko DeLev • • 0 Comments
CMHC has just released their ambitious report on the housing market outlook in Canada and the major cities. The overall tone of the report implies “moderation” and “balanced market”. Here are some highlights for the Ottawa/Gatineau region.
Ottawa housing market – a big puzzle or a solved mystery?
by Vasko DeLev • • 2 Comments
These days there are too many people saying: “Canadian real estate is in a great shape”. “We are immune from a US style collapse”. ”Housing is on recovery mode and prices are going up again…” Too many newspapers, blog and commentaries are comparing the US real estate problems and the “stable Canadian market” with overly optimistic conclusions. In a situation like that it is difficult to talk about potential dangers and housing market bust waiting behind the corner. Well, Garth Turner seems to be a lonely voice, talking about real estate bubble, but few pays much attention. A year ago Alexandre Pestov published a very well researched paper on the topic with the same conclusion – real estate markets are due for correction. To my knowledge his research also did not get enough traction.
Just look at these numbers:
The average home price in Ottawa has increased 5 (five) times since 1981 while the population has not even doubled during that period. How do you explain that?