| HOUSING TRENDS FOR 2008 - CMHC says... |
CMHC said... the fourth quarter 2007 was a slow down. But the consumer side of the economy continues to grow. The Canadian economy is at near or full employment. MORTGAGE RATES - Mortgage rates continue to be good. EMPLOYMENT - job creation will continue to fuel housing demands INCOME - rising incomes will continue to help housing demands IMMIGRATION - Ontario continues to attract international immigrants. CONFIDENCE - Consumer confidence remains positive. Consumer confidence will continue to support demands for home ownership. RESALE MARKET - More balance expected. The rate of growth in the average MLS listing price will moderate in 2008. VACANCY RATE - remain stable, somewhat higher in 2008. A stable Ontario outlook will continue to sustain a high housing demand. Time to buy is now. |
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December, 2007
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