Forecast For The Canadian Property Industry In 2011

PropertyWire,Ca's journalist, Heather Wright, has conducted exclusive interviews with Phil Soper, President of Royal LePage, Robert Hogue, Senior Economist with RBC and Jeffrey Schwartz, Executive Director of Consolidated Credit Counseling Services of Canada.

Balance and stability, two words that recently seemed foreign and unlikely, at least in reference to the Canadian Housing Industry. Now that the economic downturn is fading in our rear view mirror, Canadians are beginning to rebuild their financial situations- and are finding themselves in new territory- in an economy that holds some muted promise, if not cautious optimism. Financial wounds are healing, but frail.

What is noteworthy though, is that it is not just the economy that has changed. Canadians and the Real Estate and Mortgage industries are also different post recession; in terms of economic expectations, consumer confidence and attitudes towards debt, from both a consumer, lending institution and policy maker standpoint.

Looking forward to 2011, with conservative promises of growth, expectations for price appreciation brought back to earth, and aggressive mortgage provisions being rolled out, how is buying and selling a house in this country different than it was pre-recession? How have Canadians and our government's attitudes changed toward debt and spending?  What regions will expect growth in their market this year, and why?   And how does this impact professionals in the Real Estate and Mortgage industries?

Read their predictions for the 2011 Housing Market in Canada here: ... Read More