Marziyk International http://marziyk.com/blog Real Estate Agency Tue, 29 Mar 2011 19:58:53 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 Residential Real Estate Prices More Than Doubled in Québec Between 2000 and 2010 http://marziyk.com/blog/?p=13 http://marziyk.com/blog/?p=13#comments Tue, 29 Mar 2011 19:58:07 +0000 admin http://marziyk.com/blog/?p=13 Continue reading →]]>

The Market Analysis Department of the Québec Federation of Real Estate Boards has announced the following

Residential Real Estate Prices More Than Doubled in Québec Between 2000 and 2010

The Québec real estate market went through an exceptionally prosperous period between 2000 and 2010. The median price of single-family homes across the province increased from $94,500 in 2000 to $209,500 in 2010, an increase of 122 per cent in ten years. In this same period, inflation in Québec, measured
by the growth of the overall consumer price index, was limited to 20 per cent. As a result, the vitality of the Québec real estate market over the past years has resulted in a dramatic increase in prices in real terms.
Québec City Metropolitan Area Tops the List

]]> http://marziyk.com/blog/?feed=rss2&p=13 4 Real estate news http://marziyk.com/blog/?p=1 http://marziyk.com/blog/?p=1#comments Thu, 13 Jan 2011 10:02:49 +0000 admin http://marziyk.com/blog/?p=1 Continue reading →]]> The Minister of Finance, and the Minister of Natural Resources, announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market
The new measures:
•    Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire.
•    Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes. This will promote saving through home ownership and limit the repackaging of consumer debt into mortgages guaranteed by taxpayers.
The adjustments to the mortgage insurance guarantee will come into force on March 18, 2011
We should not expect a drop in real estate prices.

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