 鲜花( 1)  鸡蛋( 0)
|
欢迎讨论, 但千万别拍砖.0 ~6 P. u, {5 M7 j, Q+ z: v$ x+ V
% [ i& ?: _7 W- @
http://www.globalnews.ca/money/w ... 42638608/story.html4 U- J3 h) y2 q* X' k
" h- x8 ~1 H* }OTTAWA - For most Canadians their home is the biggest investment they'll ever make — but they might be surprised to learn you can use if for more than just sleeping.7 A$ L: p4 W, j! ^* k
, X& g$ |+ B0 [: o M O2 @7 ~People generally don't think of their homes as a potential pile of cash in the bank, but experts say it's something worth pondering now that home prices in Canada may have hit their peak.
+ g1 p' z! s& c' v2 W. ?
( h3 {8 i9 z6 A8 yIn fact, analysts say if finance is the only consideration, conditions now and into next year or so form a seldom seen sweet spot for using home equity as a type of asset for investment.' M9 `# D7 ?) w
3 J+ Z) h: J) \5 f* I
Why might it be a good time to sell?2 L/ d8 T& \* z
) G& `! x# V+ h1 `# `
At about $370,000 average nationally — and just under $800,000 in Vancouver — home prices are already at record levels. Many observers believe prices are long due for a downward correction of anywhere from 10 per cent to 25 per cent, perhaps more in some of the hottest markets.* d( ]+ A6 z3 e; N
; ]7 I4 h# a; H2 j+ U6 L: Z
"Home prices to income, housing price to rent, all the indicators are setting off warning signals," said Derek Burleton, a senior economist with TD Bank.6 x9 c/ ^7 \" Y" R- h) w2 i
; s6 t7 s6 t; E' b4 i
"If you are purely in it for reaping profits, now is not a bad time to sell" before prices drop.
7 e0 h! q( x8 b# v- n# U0 M: ~1 e7 o$ r5 P
The profits from selling a home can be used to build savings, eliminate debt, make traditional investments or, ironically, buy more real estate — albeit in a different market where home prices are lower., }; q) `: D) N- o( a ~
( |# f5 }$ K4 D/ P: r3 BOf course, even if it makes sense financially, selling the family home to rent or move to a less expensive housing market doesn't make lifestyle sense for the vast majority of Canadians.
, \# x0 I. [+ X7 N: k9 I* ?$ n( U" ]" `0 {
Burleton knows how they feel.% `' F% k# n0 ^. Q, \- C) C2 Q
6 }; c! y5 Q! r4 P9 D"I wouldn't want to sell my home right now even if I wind up taking a hit on the home price, just because I enjoy where I'm living and moving is a pain," he said.
5 n" h+ c0 u. {- L8 s& d+ t9 `) N- d0 Z. r0 o8 q: I; D; X
While there's no guarantee of a correction, observers note there are additional signs that the housing market could cool off in a big way.
2 _# k, O0 r" U9 v& P; y) z- n- r( }* U3 y8 P' ~
With ownership levels near a record 70 per cent, demand is expected to wane, making it a buyers market for the first time in years.$ H5 l4 Z) h- C9 B- @4 B
' n. z/ f: ]- ]9 \+ Q& ]0 l: N; J
And Bank of Canada governor Mark Carney warned last month he was preparing to hike rates, which along with tighter lending rules being applied by federal authorities could trigger a flight from real estate.; [3 m) o6 S/ O7 n0 c
. Y8 j1 t- i5 x4 FIn market terms, selling a home at the peak is a way of "locking in" profits accumulated over the past decade of price appreciation — and tax free if it's the principal home.
; x# o6 L: Y( c& i+ b* p2 e% ?
7 z+ u' g+ d* ]2 ^3 h2 R2 FMeanwhile, home valuations have been rising far faster than the rent they would fetch since at least 2000. Canada's home price-to-rent ratio is well above historic norms and among the highest in the advanced world.0 U1 _. y. X2 H9 ~' O
( T5 ^1 i5 t" G1 E* e" [/ d
That is a hard indicator that homes are over-valued, but also that renting is relatively cheap compared to buying.0 B+ g% ~: F0 u. t
* M- o3 S- k5 U1 S. E& [
David Madani of Capital Economics, who anticipates a 25 per cent price crash over the next few years, cautions that like selling stock shares, timing is always tricky. q- K! M$ S. B2 @& ^$ w" O+ ~. f
, t0 \8 R8 n8 v2 ]) N6 @- I6 X' j"We're dealing with irrational exuberance. We've been treating housing like some magical financial asset that is going to solve all our problems because prices are always going up," he said.5 o1 ~- z1 F! V7 O! ?
N" Z/ j( h# ^. B
"Of course, when the turn comes, the over-confidence that drove the market up can turn to fear. You are dealing with emotion ... so I don't believe in a soft landing."
2 F' w0 H" U; j, h0 k
/ Y; B8 ^7 V3 E! m9 O( k+ eThe market is clearly at or near peak, he said, so soon may indeed be the time to act.
0 s) E! E/ U! `: e% m# d1 n/ {/ ]
) z W4 K4 N9 v: J& Y Y: ~" HBut then again he felt that way a year ago, he points out, and if households had acted on his advice they might not have gotten all the value they could from the premature sale. |
|
狗仔卡
发表于 2012-5-12 08:39
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
