Stats don't lie, but the massagers/messengers sometimes do;
Here is an overview of house prices across Canada.
A correction is going to hit major markets, Toronto, Vancouver, Victoria, to name a few.
Condo markets are saturated, lending criteria is tightening.
Banks start to worry, as they sit on the 114 billion bail out compliments of us, the tax payers
Where do I see the Hamilton market in all this?
Before I start furiously typing, I have to remind myself of America's National Association of Realtors' (NAR) President who actually penned a book, proclaiming calm waters and real estate prosperity-minutes before the U.S. bust.
Hamilton is a reasonable market, and those areas that are getting away from themselves, should reign in.
Burlington has become a suburb of Oakville and Mississauga.
A modest 1300 sq ft bungalow is $450,000 in Burlington, $650,000 in Toronto and $300,00 in Hamilton
Affordability is key. Gross income times 3 should buy you a house.
It does in Hamilton.
Not very many places else.
So be careful, pay down credit card debt and think of opportunities.
Because they exist in every market.
Borrow to empower, not to enslave!