Many investors from around the world wonder about Canada?s housing market and why it is different, especially from the United States housing market.
A recent Scotiabank report quelled some of the anxiety investors have concerning Canada and the hot housing markets of Toronto and Vancouver.
Why is our housing market different?
- Interest rates to remain low
- Household debt appears to be cooling
- Strong Canadian dollar
- Regulatory tightening in lending practises
- Record high rate of home ownership
- Increase in the demand for Condos
- Canadians have more home equity
- Canadians have more Real Estate assets
- Economic shocks do not hit all cities at the same time
Canada?s banks are still strongly capitalized and Canadians do not default when home prices correct.
In Toronto there is a continuing strong demand for Condos because they are more affordable, offer downtown locations to choose from and there is a growing trend to urban intensification.
Pictured above: M5V Condos For Sale
Search here for?current Toronto Downtown Condos for sale, some new and some resale.
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