What Adrienne Said

Adrienne says “It is time for Canadians to reset their housing market expectations.”

Change Ahead

From her March 23, 2010 Global Real Estate Trends report she further claims that –

“We expect 2010 will mark a transition year as the boom of the ‘aughts’ gives way to a sustained period of more subdued housing activity over the coming decade.”

One

Courtesy – Scotiabank

“For one, the market is starting off the ‘twenty-tens’ with somewhat higher home prices relative to long-term fundamentals, as well as a higher-than-normal level of unsold new housing stock. Considering a number of housing metrics, including the IMF’s housing valuation model for Canada, we estimate that average prices are currently about 10-15% above their underlying ‘fair value’. This contrasts with the start of the 2000s when housing in Canada appears both undervalued on average and underbuilt.”

Two

“Secondly, the fundamental factors — economic, financial and demographic — that drive housing demand are expected to be less supportive.”

Full Report here.

*Disclaimer: Information Courtesy Scotiabank Group, Global Economic Research. While believed to be accurate they are not guaranteed.

**Graphic Courtesy Scotiabank Group

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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