Learning Canada Mortgage and Housing Markets

Learning Canada Mortgage and Housing Markets

July 25th, 2010

According to the latest data on the views and opinions of Canadians in the Canadian mortgage and real estate markets show that overall Canadian stores and their expectations of the Canadian housing market was not unduly affected by the recent – usually bad – Economic news U.S. housing, mortgage and real estate financing trends.

Maritz, a leading Canadian public opinion and to highlight research company conducted on behalf of the Canadian Association of Accredited Mortgage Professional (CAAMP) study. His aim was to assess consumer attitudes wake of growing economic instability in Canada, “according to () the future of the U.S. economic slowdown.” The study results were summarized CAAMP recently published report, Housing and mortgage market trends in Canada.

“Few Canadians,” according to CAAMP chief economist Will Dunning, has a high level of concern over the form and direction of the Canadian mortgage and housing markets. P. Dunning notes that there is only a little less concern about events in the U.S., especially since Canadians tend to “make their housing decisions based primarily on their personal circumstances.”

“Canadian majority.” According to Dunning, “are very good reasons to be positive about their personal situations and their communities.” He concludes that a user of Outlook, “should give us confidence that the housing market prospects for the end of 2008 and 2009.

Appears to be consistent with the views recently expressed an economist Adrienne Warren Scoitiabank from Bank of Scotland Global Research Group. In addition to Scotiabank real estate trends report released on 15 2008 May Ms. Warren notes that “convincing evidence that Canada’s housing market come off boil. However, it does not show signs of US-style housing crisis. Quite the contrary.

Unlike the “hyper-inflated, speculative bubble that the U.S. housing market has been lost before the wind from the sails of the U.S. sub-prime mortgage market which seems to economic fundamentals that will be much much better in Canada.

No. Warren points out five key indicators, which should further strengthen the trust that Canadians are under CAAMP numbers:

1st Canadian home prices are substantially overvalued. No. Warren notes that the most recent data from the International Monetary Fund to Canada “at the bottom step of the international house price valuation.

2nd There is little evidence that speculative home buying process so often accompanies the late stages of real estate and housing boom.

3rd Canada’s housing market is not overbuilt. (Probably L. Warren concludes that “the prudent approach for customers, as tighter lending standards, guidelines and high construction costs will result Canada vs USA

4th Households are not overleveraged, and housing transaction costs as a share of disposable income are historically low. ” And finally:

5th Quality of the Canadian mortgage market is quite healthy. “Canadian lenders supported conservative loan qualifying criteria in recent years, despite the fact that new and innovative mortgage product introduction.