If you aren't convinced that Vancouver Real Estate has become more affordable over the past year, you may be part of a minority opinion. A new report released by the Canadian Mortgage and Housing Corporation today shows that there is an increase in confidence among Canadian homeowners these days. The report which polled recent Canadian homebuyers reveals that 90% of these home owners believe that real estate is a good investment. 70% of them feel that now is a good time to buy. These opinions shouldn't come as a surprise since most house prices in Canada have come down in the past year and a half, and mortgage interest rates are hovering around record lows. This is creating an environment of increased affordability across all Canadian housing markets, including Vancouver. If you are looking to get into the real estate market in vancouver, please contact me and I will be happy to discuss any concerns you may have.
Here is a link to the CHMC's press release about this report: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-06-09-0830.cfm
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