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YouTube – Market Forecast 2011/2012 – February 2011.
Forecasts:
Sales:
- 2011 Sales of units expected 80000
- 2012 Sales of units expected 90000
- Expecting to see more balanced market but tight enough to promote price growth
- 3% average growth in 2011 and 2012 vs. 9% in 2010
Unemployment rate will not decline to “normal” rate for 2+ years. Normal rate is expected between 6 to 7%
- Average household income at end of 2010 $99,787
- Average household income at end of 2011 $102,781
- Average household income at end of 2012 $106,378
Key Interest Rate
- Prime Rate: 4 increases in 2011 and another two to three increases in 2012 amounting to 2 to 2.5%
- 5 Year Fixed Rate: 2011 will be 0.6 to 0.7% increase and additional 0.5% increase in 2012
What are your thoughts on what’s presented?
What a CROCK! We’re one week away from another American Meltdown.
Consumer confidence is on the downturn and we’re well intp the next recession yes here in Canada!
The only thing that is picking up steam is the recession EXPRESS and Canada is hitching a ride on that train. Job losses to be spectacular and Real Estate prices and property expcected to Plunge!
This recession will ravage us and contrary to Mercer’s outlook in the GTA, it is attempting to give us a false sense of security. They’d love us to buy property at the inflated rate and purchase NOW because when the interest rates go up on a property you’ve paid waaaaaaaaaaaaaay too much for, just means you won’t be able to make those payments, you’ve offered yourself as a sacrificial lamb to the bull of the real estate moguls whom have driven and influenced your decision to purchase lavishly. What’s that called ???? OH yeah conspicuous consumption.
Is there any data to prove this or are you speculating? If you suggesting that there will be a correction in the start of next year, I might agree with you but a full flown recession isn’t going to happen in Canada with the current economic condition.
A simple fact that Toronto is expected to grow by 2.6 million people over the next 20 years shows that there lots of room for growth and our density in the city is going to increase. There isn’t anymore land in Toronto.
Employment has a role in the house prices and don’t deny the fact but I don’t see the sky falling.
Can you provide some more data to back up your claim?