Posted by: SMARTER BOLDER FASTER | November 27, 2008

Optimists still “Rule” on real estate….

Canadians are still in a mood to mortgage.

Nearly 4 in 10 Canadians still think that now is a good time to buy a house, even though the proportion who expect home prices to fall further has soared, according to a recent survey by the Canadian Association of Accredited Mortgage Professionals. Attitudes toward local conditions in the mid-October survey have shifted only slightly, with 38% of Canadians believing now is a good time to purchase a house — still outweighing the 32% who believe it is a bad time. Meanwhile, only 0.28% of mortgages are in arrears, a proportion that is not only low but also steady, the organization said. Still, the proportion expecting home prices to fall has more than doubled from last fall to 35%. That’s especially the case in British Columbia, where 48% expect prices to fall. Jim Murphy, association president, notes that anticipated mortgage credit growth would slow, but remain relatively strong. (tks to canwest global news service)






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