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7 October 2011

Week in Review

Defying expectations?  According to Royal LePage, this is exactly what is happening with Canadian housing prices, which increased in the third quarter as compared to a year earlier.

On this side of the border in the land of the Eagle, the practice of “doubling-up” should make way for high demand in the future, according to a senior fellow at Harvard University’s Joint Center for Housing Studies.  Courtesy of the economy, the custom of moving in with friends and family while waiting out the shaky economic times has become more common. According to a survey, over the next two years, “one in five homeowners and a third of renters” want to buy a house, and those bunking up will surely be a driving force.

Keeping on the U.S. news track, what do Baton Rouge, Cincinnati and Colorado Springs have in common? Well, they all have the recipes for location success for 20-somethings. The ranking, compiled by Kiplinger, listed cities based on employment opportunities, the social scene and affordability found the perfect places for young people. How does your city measure up?

Around the world, a universal feeling for new homeowners is the desire to make their new abode feel settled as soon as possible. To help, the Wall Street Journal published an article on how to set up a new home in a flash. It’s a great read!

Switching gears, it seems as though hitting up the bank of Mom and Dad does not stop at high school graduation anymore. The economic realities have an increasing number of parents financing their children’s mortgages. Instead of borrowing from a bank, adult children are borrowing from their parents at a lower interest rate. This arrangement, USA Today reports, saves the buyer on closing costs and appraisal fees. Note: all parties must be responsible and honest!

In closing, one of the factors that drives decisions of where to live is location, of which each buyer has individual preferences. Is it in a good school district? By the beach? In the country? An interesting tool from Walk Score helps users find apartments based on the commutability of their workplace.  

2 thoughts on “Week in Review

  1. Great assessments Sherry! Something that I have been really focusing my energy on (and trying to translate into strategy) is the massive industry/consumer shift that we seem to be on the verge of right now, which your posts touches on. Mostly what I am referring to is a generational shift, where younger consumers' (whom are making up are making up a large % of total home hunters) technological needs are met more aggressively by the industry. I am extremely excited about the next 10 years in our industry. I feel like 2006-Present was nothing compared to what is coming…

    1. Hi,

      I have an aunt in Ontario who is also in this business. Well, she's doing pretty well after 11 months compared to last year. Now, she's planning on investing to a much higher scenario.

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