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Investor forecast for 2016

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Canadian Realestate Magazine | 16 Dec 2015, 08:15 AM Agree 0
Everything you need to know about market expectations for the rest of 2015 and beyond
  • MFenn | 16 Dec 2015, 11:02 AM Agree 0
    While some people will complain (and of course are entitled to do so) about house prices in Toronto and Vancouver, yet from an investment point of view these areas seem to offer the investor long term patterns. Unless one takes an ultimately irrational 'go away, investors!' stance (politicially bowlderized, no doubt), existing, long term patterns are things that investors are likely to look at, and justifiably so.
  • SAM | 02 Jan 2016, 03:42 PM Agree 0
    I think that the housing story in Metro Vancouver area and Lower Mainland (BC) is very frustrating and sad . It does need real actions from the respective government parties to fix it. I believe that the slight increase in the minimum down-payment for houses over 500 K (which the new government has recently proposed to fix the situation) is just a cosmetic/nominal one and it will not likely cause any significant change to the skyrocketing house prices in these areas (which keep going up day after day).
    For example, we keep hearing about many of the foreign investors who come to Metro Vancouver and buy big houses just to vacation in them for few days or even leave them empty as investment plans for their future . Meanwhile, many hard-working Canadian people, who and their parents were born in Vancouver and work hard all their lives, still can’t afford to buy a house even in a remote suburb of Vancouver.
    Why the government does not pose special conditions on the foreign investors who are willing to buy properties in these areas to help stop this trend (that is basically unfair to Many Canadians), just like many cities in the developed world.
    Also, due to the crazy house prices, many people are having huge mortgages to buy houses that are beyond their financial Capacities, thinking that the interest rate will remain low forever. Unfortunately, once the interest rate becomes significantly higher, many of these people will not be able to comfortably pay their mortgage . Why the Canadian government does not work with the lending banks to educate these people about this important point (explain to them the very possible scenarios of higher interest rate in the near future) and make the lending conditions tougher for such people. This is just to avoid putting these people in financial problems and stresses ( trap ) when the interest rate goes up.
    I think that the respective government authorities should help people avoid having huge debts instead of encouraging them to do so, like many banks who only care about making lots of money .
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