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Real Estate

My Two Cents on the Canadian Real Estate Market and Housing Prices in 4 Minutes

Every other day I get asked “what’s the deal with the Canadian Real Estate market and housing prices is there a cap? Will there be a bust/crash? What will be the floor?”

After spending 4 minutes thinking about it; the following is just my two cents!

Over the past few years, I wake up every morning and on the news I usually hear or read a combination of a few of the following:

  1. Greece is bankrupt;
  2. Europe is on shaky grounds with an ongoing debt crisis;
  3. North Korea has nuclear capability;
  4. India has nuclear long range capability with not just China on their list;
  5. Iran has or will have nuclear capability;
  6. Syria is in the middle of a revolution;
  7. Libya is crippled;
  8. In Africa there are 24 countries each dealing with some kind of war, and 88 countries with war between militias-guerrillas and separatist groups, there are 6 provinces struggling for independence;
  9. In Asia there are 15 countries each dealing with some kind of war, and 79 countries with war between militias-guerrillas and separatist groups, there are 19 provinces struggling for independence;
  10. In Europe there are 9 countries each dealing with some kind of war, and 50 countries with war between militias-guerrillas and separatist groups, there are 6 provinces struggling for independence;
  11. In the Middle East there are 8 countries each dealing with some kind of war, and 79 countries with war between militias-guerrillas and separatist groups, there are 2 provinces struggling for independence;
  12. In the Americas there are 5 countries (Chile, Colombia, Ecuador, Mexico and Peru) each dealing with some kind of war, and 24 countries with war between militias-guerrillas and drug cartels;
  13. Iran is up for election and that may result in a revolution or chaos in some form or manner;
  14. U.S. Presidential elections will force President Obama to strike Iran or support Israel or risk losing his re-election, but I do not know too many who care to see him get re-elected;
  15. Israel has its finger on the trigger before Iran develops their Nuclear Arsenal…scary;
  16. Middle East’s nuclear balance between Saudi Arabia, Turkey, and Egypt is at threat and will have to be re-addressed once Iran and Asia develops same for certain;
  17. U.S. is positioning troops (again) in Afghanistan in case its needs to dismantle Iran’s nuclear capacity or Pakistan’s nuclear capacity, or both;
  18. Russia and China are Allies against the U.S. (Nothing new, but at least they are not trying to hide it). It won’t be long before Pakistan and Iran joins this alliance (if they have not already), and obviously Russia will back Iraq again;
  19. China predicts it will be the new super-power economically;
  20. Bank of England printed billions in October 2011 and again in February 2012 to help, but that just makes it more obvious that their gloomy economy is heading for worse;
  21. Iceland forgives mortgage debt for the population…ya WTF;
  22. Etc… etc…

See Canada on the list? Nope

Minister Jason Kenny for Immigration Canada stated that “In our immigration plan for 2012 you’ll see our intention to maintain high levels of immigration to Canada. It has the highest per capita of immigration in the developed world.” On a per capita basis, Canada approves more visas than any other comparable country. There is now a parent and grandparent super visa, speeding up the approval process to just 8 weeks. Since 2010 Canada approved 250,000 migrant workers each year. Canada is now launching the Start-Up Entrepreneur Visa…exciting…yes.

Knowing that you can, and that the country you choose will accept you, and allow you to bring all that you can with you (practically), and that you are leaving your current country in hopes of a better one, where else would you go? Where else would you put your money? Where else would you buy a home? What would be the first thing you buy? Real Estate? Yes….because traditionally, having real estate is the oldest pride of ownership that spans nearly every culture and nationality, and to most people that’s worth more than its monetary value.

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