Pundits believe Brexit is a boon to our real estate market …
Or maybe not?
CBC.ca– Jul 5, 2016
Regardless, Vancourites and Torontonians (foreigners inluded, of course) are gobbling up real home for sales without even seeing the properties!The Home Inspectors Association isn’t amused … They wanted the authority to make home inspection mandatory. Madness, eh?
Meanwhile, blame games have started on the rapidly accelerating home prices that is total madness, to sum it up in one word … Liberals and municipalities are the main culprits, so said the urban planning experts.
It appears those in the mortgage business are extremely worried about the hidden timebomb called “Housing Bubble”.Understandably these deep pockets stand to loose the most should the market collapses … They wanted real serious actions, not just playing with sub-zero interest rate, or asking banks to implement minimum downpayment. All these measures are outdated, too little, and totally ineffective to house flippers (but bona fide Canadian wage-earning-house-buyers really hard hit).The financiers wanted authorities to punish house flippers, wage Jihad wars against foreign crooks?Interesting development, but a slippery slope for the Liberals.
Liberals have started to look at the situation very seriously, so said our lawmakers: –
Indeed, actions have started to emerge …
Also, it appears talks alone is already having some effects on Vancouver market …
The Liberals further promised not only they are serious, they will be very transparent … No hanky-panky business
In the past, real estate agents will threaten potential home buyers to make purchase decision immediately, because the sky is falling down ! Sorry, I mean financing will be more difficult, if not impossible. Interest will go up while house price will just continue to fly.And history suggests upon hearing the government is about to intervene, folks will be persuaded by rush to buy up just about anything … From super villas, upper fixers, cookie-cutter condos, to even sheds.Looks like Liberals need a new approach …Prediction: Another prosperous year for those in the real estate business.Wondering what our real estate agents make … ?
As for foreigners keen to explore Canadian real estate …
Attention: Foreign Investors, or potential home buyers from abroad,
Welcome to Canada.