9 December 2010
Actually, the differences are quite significant. Central 1 predicts the Ontario housing starts will go up to 66,000 units. Meanwhile, the CMHC expect the starts to go down to 55,000 units. The TD Bank says it will be even lower – only 47,000 units. Speaking about the prices tendencies, the CMHC believes they’ll remain flat or increase only a bit in 2011.
“In my opinion, the situation is quite opposite – the activity in Ontario is slowing down,” – said housing economist Will Dunning. “I suppose the next year will be weaker than this one”.
The deal is that there should be a serious reason for housing starts, resale prices and sales hikes. “It should be a strong pick up in job creation. And we can’t see it in Ontario yet”, – said Dunning.
Providing all above we are asking the same question once again – “Is it a good time to buy a home right now?” And our answer from the financing standpoint is “Yes!” Market is in balanced territory, mortgage rates are extremely low and mortgage funds are available to the qualified borrowers.