Housing Market Cooling in Toronto

Housing Market Cooling in Toronto

A New report Suggests, that the Housing Market is Cooling in the Toronto Area, the report which has been commissioned by the Canadian Based Global Bank of Montreal Economic Group  did a study of the Canadian Housing Market. It's findings saw that there was some drop off in housing sales and activity in the Toronto Market as the result of new federal regulations designed to slow down and stunt the growth of sales in the condo industry which has focused almosted exclusively in Toronto and within the niche condo highrise sector.

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This tighening of credit has offset the home buying incentive created by extreme low interest rates which were required to provide economic support to a down economy in the face of the worldwide financial crisis.

According to a new report from BMO Economics, the Canadian housing market is calming rather than crashing, as the impact of tougher mortgage rules and cooling credit is partly offset by the supportive influence of low interest rates and continued income growth.


http://www.bmocm.com/economics

"House prices have hit record highs in most regions across Canada, though the rate of appreciation has slowed," said Sal Guatieri, Senior Economist, BMO Capital Markets. "Resale markets are largely balanced, though buyers have gained leverage in some provinces, including Quebec and British Columbia. Steadier prices are expected in the year ahead amid decent job growth. A benign outlook for rates and income should support affordability this year, weighing towards relatively steady sales and prices in most regions.


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About Ascension Health Ventures

Ascension Health Ventures was launched in 2001 as a wholly owned subsidiary of Ascension Health. Today it is a subsidiary of Ascension Health Alliance, a parent company formed in 2012. AHV's role is to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry, and significantly enhance the experience for patients, their families and their caregivers. AHV has three venture funds under management and its limited partners include Ascension Health Alliance, Catholic Health East, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare and Mercy. For more information, go to www.ascensionhealthventures.org.


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