Thursday, August 23, 2007

Canada's Housing Market

"What remains the greatest source of weakness in today's U.S. economy is a continued source of strength in Canada," "While the U.S. housing market is mired in deep recession, Canada's own housing market has demonstrated extraordinary resilience."
Warren Lovely of CIBC World Markets

Our great economy is due to low unemployment, rising incomes and low interest rates. Although sales in Edmonton and Calgary have slowed down due to an increase of properties listed on the market,the province of Alberta is leading price increases with CREA forecasting a 25% jump in housing prices by the end of 2006.

Other leading provinces:

*17.4 per cent in Saskatchewan
*11.2 per cent in Manitoba
*9.9 per cent in B.C.
*9.2 per cent in Nova Scotia
*8.6 per cent in Ontario this year.

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