Provided the news reports are accurate, the Government of Canada made a smart move by purchasing 25 billion dollars worth of residential mortgages which are insured by the Canada Mortgage and Housing Corporation. This is a sound investment at this time because Canadian insured mortgages offer a guaranteed rate of return.
Canadian mortgage lenders will now be able to continue offering residential mortages to their homebuying clients. The world wide credit crunch might have affected Canadian mortgage lenders ability to fund residential housing purchases in Canada.
This is good news for Canadian home buyers and Canadian real estate professionals.
In New Brunswick, multiple starts (which include semi-detached homes) are up 11.2% while single detached starts are up 2.9% resulting in a 6.7% increase in the total number of all unit starts.
In September Saint John lead the province with 131 total starts.
Moncton's year to date decline of 16% in single family starts is responsible for all but 4 of Moncton's lower start total.
Moncton continues to lead in total starts year to date with 1,009, followed by Saint John with 669 and Fredericton with 515.
Multiple starts as a percentage of all starts year to date is 45% in Saint John, 59% in Moncton and 29% in Fredericton.
Larry Estabrooks is a licensed independent real estate agent residing in Moncton, New Brunswick
If you would like to discuss any real estate topic my contact information is here: www.MonctonAgent.com/contact.htm
(preliminary figures provided by Canada Mortgage and Housing Corporation)
| 1095- - 985- - 876- - 766- - 657- - 547- - 438- - 328- - 219- - 109- - 0- |
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| Saint John | Moncton | Fredericton | Other | ||||||||||
The World Economic Forum ranks Canada as #10 overall in their 2008-2009 Global Competitiveness Report.
Inside the report Canada achieves number one rank in three specific areas with two of these from hard data results. Canada is #1 in soundness of banks, personal computers per 100 of population and the lowest number of procedures required to start a business.
As you read this on the Internet take note that Canada ranks 6th for Internet users at 76.8 per 100 of population and ranks 10th in broadband Internet subscribers at 22.9 per 100 of population.
The nationally televised Canadian leaders' debates will take place this week:
* French debate: Wednesday, Oct. 1, 2008, 8 to 10pm EDT
* English debate: Thursday, Oct 2, 2008, 9 to 11pm EDT
With:
* Stéphane Dion, Liberal Party of Canada
* Gilles Duceppe, Bloc Québécois
* Stephen Harper, Conservative Party of Canada
* Jack Layton, New Democratic Party
* Elizabeth May, Green Party of Canada
There may be issues which might effect real estate in Canada.
Do you plan to watch?
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I'm a veteran New Brunswick real estate agent blogging about the real estate market, homes, relocation, agency, house construction and what's so great about Moncton, Dieppe, Riverview, Shediac, ...
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