The Canadian Landowner Alliance advocates for provincial legislation that recognizes property rights, and, that the Federal Government of Canada enshrines property rights in the Charter of Rights and freedoms.
Remember the 2008 credit crisis when Canada's regulated banking system was so much better than that of the USA, their housing bubble, toxic sub-prime mortgage swaps and such? Well, here's an update.
There are a couple of other real problems in Canada's real estate market that are outside the scope of that article. The much-touted urban condo market is turning to jelly as people who bought into the "investment" line are finding out that renters who can afford to cover the owner's mortgage and condo fees are few and far between.
Another item that wasn't touched in the article was the issue of an aging population and the low recruitment rate - there are more old folks trying to sell their homes than there are younger folk ready and able to buy.
I think it is starting to hit other paces besides our cities. My sister works for the Peterborough real estate board and she says buyers for the high-priced country stuff are away down in numbers. I can see that too. There's a really nice place that has been listed for well over a year about 2 km from here. It was $1.1 million and then it went down to $949,000 and it has been at $880,000 since September and there's no sold sign on it yet.
My 75 year-old dad has been waiting for the Toronto housing bubble to pop since 1989. He's been waiting for the next Great Depression even longer. Soon, Pops, soon...
There are a couple of other real problems in Canada's real estate market that are outside the scope of that article. The much-touted urban condo market is turning to jelly as people who bought into the "investment" line are finding out that renters who can afford to cover the owner's mortgage and condo fees are few and far between.
ReplyDeleteAnother item that wasn't touched in the article was the issue of an aging population and the low recruitment rate - there are more old folks trying to sell their homes than there are younger folk ready and able to buy.
I think it is starting to hit other paces besides our cities. My sister works for the Peterborough real estate board and she says buyers for the high-priced country stuff are away down in numbers. I can see that too. There's a really nice place that has been listed for well over a year about 2 km from here. It was $1.1 million and then it went down to $949,000 and it has been at $880,000 since September and there's no sold sign on it yet.
ReplyDeleteMy 75 year-old dad has been waiting for the Toronto housing bubble to pop since 1989. He's been waiting for the next Great Depression even longer. Soon, Pops, soon...
ReplyDelete