(PRWEB) May 01, 2013
Marcus Arkan, CTO of Syndicate mortgages talks about a post by the Canadian Press that predicts that the fears of a major crash in the Canadian housing market are yet to materialize. Mr. Arkan says that since demographic trends will boost demand in the medium term a sudden crash is unlikely.
According to a post by the real estate mogul, the country’s housing is susceptible to a large number of factors like demand, the housing preferences of the migrant population and interest rates. When asked about the current state of the Canadian real estate environment, Mr. Arkan had this to say, “Mortgages are still historically at an all time low despite the rumors of a potential crash. The stats speak for themselves and it doesn’t seem like the housing bubble will burst like it did for the United States in 2009. The Canadian housing market is also considered to be a goldmine for foreign investors after all.”
Mr. Arkan also added that BMO’s latest announcement to lower the bar on mortgage rates is also what attracts investors, both foreign and otherwise, towards the real estate market. This in turn helps it stay afloat. The CTO also credits a straightforward property purchasing system to be a cause. Buying property is Canada is easier as compared to other countries and economies. Foreign investors might have to go through more red tape than locals however since the process is systematic, it gives them easier access to the market as compared to other countries as well.
A recent news article that highlights Scotiabank’s forecast on the matter predicts that demographics like a steadily increasing immigrant population and baby boomers will likely fuel the housing demand for a long time to come. The former prefers staying for longer in homes so it isn’t surprising why baby boomers would avid supporters of the demand.
Mr. Arkan also quotes the CEO of Scotiabank saying that the 250,000 to 300,000 addition to the country’s immigration population every year will surely be what the real estate market will depend on in the future. The CTO concludes his analysis by saying that the Canadian is not slowing as much as the population and investors fear especially considering its importance as a profitable market for foreign investors.
About Syndicate Mortgages
Syndicate Mortgages is a real estate firm that is based in Canada with Marcus Arkan as its CTO. The firm helps its customers find the best mortgage rates and products in Canada that suit their individual needs. Syndicate Mortgages also lends its clients access to a variety of lending institutions and over 70 Canadian mortgage lenders in the country. The company is composed of a network of industry specialists who are trained to provide financial advice and related services to clients according to changing market conditions. For contact please refer to the following -
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062