Tis the Cottage Selling Season in Muskoka
BNN today notes the TD bank believes there is a housing imbalance that is a threat to the Canadian economy. That interpretation of the article is misleading. The Canadian Real Estate Association, of which Muskoka Real Estate Services I nc. is a member, stated sales were up 1.4% and this is noted in the TD article. They also noted Barrie resales were up 24% and Guelph’s are up 20%, greater than most areas of the country. There are strong markets across the country. The article was making the the point Canadians household debt was up. That may be due to the purchase of cars, increase in credit card debt or the cost of living rising and the stabilization of salaries, but it has little to do with an unusual rise in the cost of housing. Housing prices are only up 2% in the past 12 months. A healthy real estate market is a rise between 4 and 6%.
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