“The probability of the market busting is small,” says Lovett-Reid. “A cooling of the Canadian housing market (likely will) proceed in an orderly fashion.” Taylor says housing prices and starts will flatten out over the next few years, but real estate should continue to be a good investment strategy as part of a diversified portfolio. And TD Economics expects national average home prices will rise by an average annual rate of four per cent over the next 25 years. “While real estate purchased for speculative or income-generating purposes is a financial investment, home ownership offers the opportunity for capital gains through rising prices over time,” Lovett-Reid says. “There could be considerable variation at the individual city or neighbourhood level and volatility from year to year, but as one of, if not your largest asset, a home should be a part of your financial plan,” she says.
Source: CanoeMoney.ca - November 14, 2007
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