It’s no secret Canada’s real estate on average is priced higher than comparable markets worldwide. For a very long time now, however, it’s not something that has deterred investors because of its relatively stable market with growing populations, low unemployment, and many more reasons to expect increased immigration and further investments. But, just like in every real estate market, there comes a time when things much balance out. Prices cannot continue to climb indefinitely. They must ceiling for the time being, decline for a bit, find a “catching point,” at which time they can begin to rise again. It’s the ebb and flow of supply and demand.
And, to push things along, Flaherty imposed new mortgage rules on July 9th meant to help ensure a decreased likelihood of a market default like that seen in America in 2009. This signaled trouble to many “experts” and sent the media into a fury of postings about the “bursting of Canada’s real estate bubble.” Gamany, true to form, is allaying the fears of investors and continuing to encourage investments in Canada real estate based on his many years of in-depth industry experience.
“Canada is not where the U.S. was at four years ago,” says Gamany, “There are many differences between the two. As a wise investor, what you have to do is pay attention to what is happening nation-wide, but then also break that down to the individual areas of interest. So, while we might be seeing some slowing in areas like Toronto and Vancouver while prices regulate, there are other areas of Alberta and BC in particular that are doing extremely well with exponential growth projected for the future. You have to take into consideration GDP, area population growth patterns for the past five years, as well as the unemployment rate. These factors will tell you if you have a solid investment potential. Lucky for us, there are many, many areas of Canada that are just that.”
About Virata Gamany
Virata Gamany is a real estate financial specialist and philanthropist with a deep appreciation for entrepreneurial solutions to social issues. Gamany has worked around the globe and studied an array of cultures and people. Having graduated from the University of Toronto and the University of London School of Law, Gamany considers himself a serial entrepreneur who will never truly retire.
For read more about Virata Gamany, visit http://www.viratagamany.com.