Many people are wondering whether the housing crisis in the U.S will be the same here in Canada, and specifically Ontario. There are many reasons why it will not, and that is good news. There was a great article in Friday's Globe in Mail that puts into perspective and spoke about the key indicators to consider.
The local market still looks sound
[Source - DEREK RAYMAKER, From Friday's Globe and Mail October 17, 2008]
There's an old saying that goes: when the water-hole dries up, that's when all the animals start to look at each other funny.
The last two weeks have seen a spectacular crash of global equity markets and a virtual paralysis in capital flow. The headlines are frightening, but digging behind them even slightly is enough to make your blood run cold.
This is especially true if you are close to retirement and have just watched your investments go for a swan dive off the tallest peak of Bay Street, ripping one-third or more of their value on the way down. But the scariest part of a good old-fashioned economic meltdown is waiting for the other shoe to drop. That's when the terror sets in — not having a clue what comes next.
As last week's stock market collapse showed, psychology can drive events to a crisis point as much as real economic happenings such as job losses, trade slowdowns, property foreclosures and bank failures. So how do home buyers and sellers keep their heads on straight in these troubled times?
No comments:
Post a Comment