Friday, October 13, 2006

Business Edge News Has Some Insight On The Canadian Real Estate Market

The recent nation wide real estate boom has produced new real estate spin-off jobs such as: real estate agents, home inspectors, mortgage brokers, and construction workers. In the last few months the real estate market has drastically cooled in Eastern Canada, and places like Toronto and Montreal are in a regressive market.

Benjamin Tal, a CIBC World Markets analyst states "We'll probably see some slowing...there is a booming bubble, especially in Ontario and the East. I think we have to recognize that's the case. I think that we'll see less real estate agents, less home inspectors."

He says Ontario's real estate market will struggle because of the high Canadian dollar, a decline in manufacturing and the province's proximity to the struggling U.S. market.

Fortunately for those of us in the west the real estate market will remain steady due to oil and gas speculation in Alberta, along with the 2010 Olympics in Vancouver.

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