Home Owners Take Advantage of Low Interest Rates to Pay Down Interest

Home Owners in Canada's Biggest Cities including Edmonton and Calgary, have been using low interest rates to pay down their mortgages and offer a cushion when it comes time for them to renew.

Markets it the bigger cities of Toronto and Montreal have been cooling for some time, although at this point there is no sign pointing to a bubble in those markets. Toronto and it's sister city, Vancouver look certain to avoid a major downturn in 2013 or 2014.

Banks and the Government of Canada are looking at measures which will require healthier levels of advance pre-sales condo in order for builders to be granted financing for construction of super-highrise towers which have become the norm in Toronto and Vancouver. This will serve to keep housing supply in check.

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Vancouver's Condo Market is not on the verge of collaspe as it has been reported by many doomsayers that state that the Vancouver Market is overbuilt. Yet, there has never been any evidence that there are too many condos under construction in Vancouver. The Conference Board of Canada has supported this argument by stating that in it's future predictions the Toronto Condo Market Will Remain Stable. 

A new report from the Conference Board of Canada predicts that the much-watched condo sector will avoid an ugly downturn, even in Vancouver.

Economists and policy-makers are keeping a close eye on condos, especially in the country’s most populous city, where cranes dot the sky. A number of economists say that too many units are being built, a development that would put pressure on prices. The Bank of Canada has highlighted the risks that this market could pose to the economy