Interested in buying real estate property in Canada?
Canada is stable country with permanently growing economy (ok, mostly permanently for a long run is what I meant here ).
That is the reason why purchasing a house or a condominium in highrise building in Canada could be a good idea for those who are interested to invest into real estate to make sure their money is in a safe place.
As other markets Canadian real estate is not so straightforward.
The crisis of 1989-1991 (when prices dropped to 30% or even more) made many Canadian families helpless with their hopes and beliefs. However if we consider long term (20-30-40 years) we can see the prices are moving up and for the last decades real estate market remains one of the most stable and one of the safest ways to invest.
Especially the last ten years made Canadians crazy about how fast the prices can go up.
Let's say an average house in Vancouver (British Columbia), or Calgary (Alberta) now cannot be afforded by a first-time buyer (usually a new immigrant came to Canada to start another life).
However the prices in Toronto (the largest city of Canada and its financial center) remain relatively low.
Comparing not only to Vancouver or Calgary, but also to American "comparable" cities like Chicago or Boston.
Honestly it's hard for me to point the reason of that strange fact.
The only tendency we can observe is the prices are moving and moving up.
The United States are in real estate and mortgage crisis now.
The value of houses is often lower than an amount of money the house owner owes to its bank.
And that may follow to just giving up the house, sending keys to the bank and moving to rent.
Entire blocks of abandoned houses look scary. Like a dead city.
Prices in California are already dropped to 20-40% for the last two years.
But Canada (sometimes called the Northest State of the US) is doing surprisingly well.
The growing sometimes stopped sometimes not, but no noticable dropping so far.
And immigrants are coming and coming to Canada - every year and every day, and all of them need a place to live.
That is one of the reasons why real estate in Canada is protected by immigration policy of the Canadian government.
To see some houses listed for sale please visit my HomeBuyerBlog.ca
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