tippergore
Registered User
- Messages
- 24
Property prices have increased by up to 50% in parts of <Insert City Here> alone over the past year.
I see there is only room for negativity in this forum.
Perhaps you'd be better off posting elsewhere, then?I see there is only room for negativity in this forum.
Bank of Canada governor David Dodge told reporters this week in Vancouver that he was concerned about the sustainability of housing prices.
"One worries about the structure of the mortgage market, that we may actually be aiding, facilitating, a rise in house prices that is not warranted."
Meanwhile, a report by housing analyst Will Dunning this month warned that the stronger dollar and rising commodity prices will result in continued slower economic growth in the Toronto area this year, which is likely to have a cooling effect on the housing market into 2008.
The loonie (Canadian dollar) is at historic highs to the US dollar. The US is Canada's main trading partner (lumber, outsourced manufacturing etc.). With the high exchange rate, pressure will come on multi-nationals to relocate to lower cost areas within NAFTA (e.g. Mexico). Margins will be hit and there will be a tightening of the employment market.
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