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WHAT DO WE KNOW ABOUT THE REAL ESTATE MARKET? * We know the market is shifting from a seller's market to a buyer's market * We know that we are facing an economic slow down and consumer confidence is down * We know that we need to stay positive in the face of these changes to reduce/alleviate worries, not empower them WHAT SHOULD WE FOCUS ON? * Focus on the positive effects of low interest rates * Focus on the benefits of buying in the current market with realistic selling prices * Focus on how housing has consistently been a great investment in Canada * Recent Financial Update FP article said “Canada is the poster child of fiscal health across the industrialized economies” WHAT ABOUT INTERST RATES...? * Interest rates are still phenomenally low *interest rates have remained low for the last 5 years~ it is still a good time to borrow money for a home investment or refinance * Finance Minister Jim Flaherty announced today the mortgage debt will be purchased by the Canadian Mortgage and Housing Corp. * Flaherty said that will ease pressure on lending institutions and prompt banks to lower their interest rates for Canadians, which could spark renewed buying activity. (Source: CTV.ca News- October 10, 2008) |
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