Alta West Mortgage News Update

Housing starts will slow: CMHC
Aug 31, 2010 — The growth rate for housing construction will slow over the last six months of the year, Canada Mortgage and Housing Corporation said Tuesday in its second-quarter outlook. The federal agency, which bases its outlook starting in June, also forecast the rate of housing starts in 2011 will stabilize and grow at the same rate as the population.
Housing bubble threatens in six cities: Report
Aug 31, 2010 — A perfect storm has created a housing bubble in Canada that could lead to a drop in property value of nearly 40% in some markets, according to a report by the Canadian Centre for Policy Alternatives. For the first time in 30 years, house price increases have climbed faster than historic comfort levels in Toronto, Vancouver, Calgary, Edmonton, Montreal and Ottawa, the think-tank said.
Boomers upsizing their downsizing plans
Aug 31, 2010 — While some baby boomers have their sights on the simpler, "lock and leave" condo lifestyle, others are finding that life doesn't always work the way they planned, says Laura Parsons, area manager specialized sales for BMO Financial Group in Calgary.
Economy sputters in second quarter
Aug 31, 2010 — Economic growth slowed more in the second quarter than the Bank of Canada and most analysts had anticipated, as imports increased faster than exports, and spending by consumers and governments slowed.

Recent Blog Entries