Is this a good time to buy?
This is probly the most common question I get when people find out I am an active Real Estate investor.
My answer varies but usually its something to the effect of: anytime is a good time, it depends on the deal and the area and what research you've done.
Well you know what the next question is right? What's a good area, is this a good deal etc. etc. All good questions but there is no one answer. Usually the biggest factor for the average person to consider is whether the property is for personal use (residence) or for an investment. Personal use is obviously a combination of lifestyle choice and income based affordability. For an investment many more factors come into play - I won't go into detail.
But what about interest rates, they're going up aren't they?
Well I don't have a crystal ball but I can make calculated assumptions based on the relevant advice of experts and our national and global economy + events.
Here is what expert Peter Kinch had to say recently.
He is Canada's foremost mortgage broker and frequently asked to speak on national television to give his analysis, enjoy! (if the link does not work, copy and paste into your browser)
http://www.youtube.com/user/PeterKinch?feature=mhum
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