Canadian Housing Market Outperforms the Developed World

Canada's Hot Housing MarketA Scotia Economics report says Canada’s housing market is cooling, but at a slower pace than most other markets in the developed world.

Scotiabank’s latest real-estate outlook said Tuesday that Canada is showing a resilience that few other countries have been able to maintain.

“In the majority of the major markets we track in North America, Europe and Australasia, inflation-adjusted home prices declined on a year-over-year basis in the second quarter of 2011,” said Scotia Economics senior economist and real estate specialist Adrienne Warren.

“While Canada’s hot housing market also has begun to cool, it remains a notable outperformer.” Click here to view the full article.

 According to Scotia Economics, Canada’s real estate market is stronger than the rest of the world, and the Toronto market, along with Vancouver and Calgary, are the strongest in Canada. While the market may well slow down next year, Toronto prices will probably continue to increase, just at a slower pace than the past couple of years. At a time when stocks & bonds are looking pretty risky, the Toronto real estate market shines brightly as a great place to invest as well as a great place to own your own home… especially given that your home is exempt from capital gains tax!