No Housing Crash in 2013
In December of 2011, there were only a few who predicted that there would not be a housing crash in 2012. Despite what you read in the media, 2012 was a very stable year in the GTA real estate market, very similar to 2010 and 2011.
Please read the attached article by Mark Weisleder which shows why 2012 was a strong year and more importantly, why the signs point to 2013 being just as stable for the real estate industry, primarily because interest rates will continue at historic low levels.
In addition, CMHC just released a study that shows that less than one half of one per cent of Canadians are having trouble making their mortgage payments. This is why you do not see that many power of sales or foreclosures happening, which was one of the major reasons why the US housing market collapsed.
Finally, they expect 100,000 people to continue moving into the GTA each year. These people need to find a place to live.
Enjoy continued success in the real estat market in 2013.