31.03.2011 - Canadian property market still riding it out
With interest rates so low, Canadian's have been buying up properties, which is continuing to push up property prices in the country. The continued increases in sales transactions is great for the property market, some economists are concerned about the rising debt levels in Canada. Canadian economist at Capital Economics, David Madani, reports that house prices may decrease up to 25 percent in the next three years. Additionally, home prices have risen to around 5 and a half times the average worker's disposable income, well over the long term average of 3.5 percent.............................................Full Article: Source
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