Posted: May 27, 2010 at 9:12 am | Tags: Alexander, canada, Canadian, capital, Chris Janes, CMHC, Consumer, Corp, employment, Funding, Housing Market, John, Labrador, market, MLS, Moishe, Newfoundland, Outlook, remainder, Resilient, spending, St. John
Canadian Funding Corp. – Resilient consumer spending, large capital projects and employment growth will continue to support the St. John’s region housing market throughout the remainder of 2010 and in 2011, according to Canada Mortgage and Housing Corporation’s (CMHC’S) Housing Market Outlook – St. John’s report released today.
Housing starts are expected to end 2010 at 1,775 units, with 1,900 starts forecast for 2011. The resale or MLS®1 market will post 3,650 sales by the end of this year and reach the 3,600 level in 2011. The average MLS® house price is expected to end 2010 at $245,000 compared to $218,862 in 2009 and increase to $255,000 in 2011. “Despite the recent global economic uncertainty, strong fundamentals will continue to support demand for housing throughout the remainder of 2010 and in 2011,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Overall, the positive outlook for the St. John’s area housing market will be reinforced by favourable trends in demographic and economic fundamentals, as well as on-going economic momentum fuelled by a lengthy list of major capital projects,” added Janes.
As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.
Posted: June 16, 2009 at 11:47 am | Tags: Alexander, canada, Canadian, canadian funding corp, canadian funding corporation, CMHC, Consumer, Corporation, Diane Finley, home, Housing Market, lender, market, Minister Responsible, MLI, moishe alexander, Mortgage, Optimistic, payment, Savvy, Survey, week
Canada Mortgage and Housing Corporation’s (CMHC) 2009 Mortgage Consumer Survey results were released last week, and indicate that nearly 90% of recent home purchasers across the country believe that home ownership is a good long-term investment and that almost 70% think that now is a good time to purchase a home in their community.
Buyers are knowledgeable about the mortgage process and their lender’s assessment of eligibility. For example, 86% are of the view that the level of total housing and other monthly payments should generally not exceed 40% of gross household income, which is in line with generally accepted mortgage lending practices.
Recent buyers are prudent mortgage managers.
According to the survey, 75% of purchasers have a goal to be mortgage free sooner than their original amortization. In fact, 20% of recent purchasers report having made a lump sum payment to their mortgage.
“The survey results are encouraging and provide insightful information, indicating that Canadians feel positive about Canada’s housing market. As well, Canada’s Economic Action Plan’s home purchase and renovation incentives, and CMHC’s recent outreach campaign to help Canadians who may be facing difficulties with their mortgage payment, are clear actions to support homeowners and the housing market.” said Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “
Canadian mortgage consumers recognize the benefits associated with mortgage loan insurance (MLI). According to the survey, 80% of recent buyers believe that MLI provides an important benefit to the financial system. Similar to CMHC’s last Mortgage Consumer Survey, the 2009 survey also indicates that Canadians continue to be well served by the mortgage industry, with 77% of recent mortgage purchasers expressing satisfaction with the service received from their lender or broker.
http://montrealrealestateblog.com/canadian-home-buyers-savvy-and-optimistic/
reported by Moishe Alexander, CFC CEO
