Recession Obsession!
However while I regularly meet with business owners, I always ask them how their business is going. Invariably most of them are telling me that business is great. Now that does not apply to all fields. My friends in the real estate game and fellow mortgage brokers have had better times. As tough as it may seem to be here, those in the west are feeling the pinch more than we were.
While we all have been tightening our pocket books it looks like things have been improving. We are well on our way to a recovery based on the recent MLS data. (see below) Almost every market in Canada has posted gains except for 4 western city’s.
Average MLS resale price for local markets
City | June 2008 | June 2009 |
Halifax | $235,312 | $240,093 |
Saint John, NB | $170,199 | $172,731 |
Montréal | $269,257 | $275,578 |
Ottawa | $298,336 | $307,793 |
Toronto | $395,918 | $403,918 |
Hamilton/Burlington | $287,249 | $297,117 |
Winnipeg | $206,327 | $212,542 |
Saskatoon | $310,386 | $276,867 |
Calgary | $418,866 | $392,601 |
Edmonton | $341,376 | $328,285 |
Vancouver | $611,613 | $575,949 |
Victoria | $476,639 | $476,686 |
Source: Canadian Real Estate Association
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