By now you've probably accumulated enough information from this website to make an accurate judgment on buying real estate in Oakland. You know where its market stands in relation to other cities in the United States, but what about Canada? Would it be worth your while to abandon Oakland and teach English as a second language in Canada instead? We will attempt to give you that information.
As you may or may not know, Canada was never affected as badly by the recession as we were. As the primary driving force behind the sub-prime mortgage crisis, we spent much more money than Canada on endeavors that were damaging our place in the international market. Though jobs were lost and housing prices dropped, Toronto condo real estate listings didn't take quite the hit percentage wise that places like Oakland and Santa Rosa in California did. So that naturally put Canadians in a better position from which to begin recovery.
Another advantage the Canadians have over us is that overall their recovery began earlier than ours. While some cities in the United States are still suffering from continued drops in real estate prices, Etobicoke real estate agents have noted that Canadian real estate prices have been on a steady rise through 2009, with increases of 19% over the previous year (2008). This trend has, according to the statisticians at Scotiabank (which is one of the Canada's big five lenders) continued into the early months of 2010, indicating that this is but the beginning of a larger trend.
According to Scotiabank's global real estate report, Canadian's voracious appetite for real estate should continue into the winter, meaning things are looking up for you if you want to be an architect in Canada. The rush to buy real estate is so strong in Toronto that many insiders fear it's a "bubble" or temporary state that will "burst" in a sudden drop in prices. However, nationally, the increase in sales is believed to be fuelled by recovering job markets and the impending introduction of a harmonized sales tax in two of the largest provinces, which would result in higher taxes on housing purchases.
After the introduction of the tax, the experts at Scotiabank expect that though sales may continue to rise, they will do so at a more sedate rate. This reserve will be partially due to the rise in mortgage costs as banks remove the incentives they had been offering new customers to assist in the recovery of the banks themselves, which allowed employees of Toronto SEO companies to actually afford their own places. Post 2010 things should level off into a market where buyers and sellers find themselves on more equal footing.
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