News, Views and Trends!
The following article is reposted from 2014. Housing bubble, market correction, real estate crash… these words aren’t new. Back in January 2014, I was hearing the same thing. Had you listened to the pessimistic outlook for real estate, where would you be today? My philosophy stands and I believe my strategy has proven to be correct.
Continue reading “Buy Now or Wait for House Prices to Fall?”
In 1990, Canadian house prices plummeted. Quickly too. Between March and September, property values were slashed up to 50% depending on where you lived in the country. A correction like this hadn’t happened for decades prior, and it hasn’t happened since. So why did it happen?
Continue reading “When Interest Rates Go Up, Do Property Values Go Down?”
Last week, I came across an article with this headline:
“Bank Of Canada Will Raise Rates 500% This Year, To Start Within Weeks.”
Pretty scary headline right? The article claimed that there will be five rate hikes of 0.25% this year. Even worse, these hikes will start almost immediately – meaning the first hike will happen at the first Bank of Canada announcement of the year.
That announcement happened yesterday. No rate hike.
Continue reading “Don’t Fear the Rate Hikes”
Spoiler alert: this isn’t one of those pro-renting articles that seem to be so in-vogue these days. You’ve probably seen the type. They purport that contrary to popular belief, if you look deeply into the long term economics of homeownership, you’ll find that it actually makes much more sense to rent. Some even tout the psychological benefits of foregoing homeownership (based on… not all that much).
Continue reading “Is It Better to Rent or Buy Your Home?”
For months we’ve been warned by “experts” that rates are sure to shoot up. That the Bank of Canada will change their tune based on the state of the economy. That by year’s end, we’ll be well on our way to pre-pandemic rates that will make anyone with a variable rate mortgage regret ever buying a home.
It’s December. None of that has happened.
Continue reading “Surprise, Surprise: No Rate Hike From Bank of Canada”
CanadaMortgageNews.ca 