Desperate to buy a home in the US or Canada?

Given that some selected urban areas in the US and Canada are seeing double digit housing appreciation – mostly due to foreign buyers and local speculators – I suggest, while the interest rates are still at historically low levels, try to buy in less expensive suburban or rural areas and lock your mortgage on a fixed interest rate for as long as you can, but remember to make sure your mortgage carrying costs do not exceed one third of your household income.

When it comes to buying a condo, it is a different kind of animal altogether, so proceed with caution. I suggest you read some of my articles on condos in this blog.

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Harper’s Built His Housing Policy On a Weak Foundation

Huffington Post

By Dan S. Barnabic, September 02, 2015

What else but bizarre would you call Conservative Leader Stephen Harper’s re-election promise to spend a half-million dollars of taxpayers’ money to collect data on foreign ownership of our real estate market to ensure that the purchase of homes by foreign, non-resident investors doesn’t affect the “availability and affordability of homes for Canadians”?

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Stephen Harper’s approach to real estate issues is flawed

Globe and Mail

By Dan S. Barnabic, August 29, 2015

What else but bizarre would you call Conservative Leader Stephen Harper’s re-election promise to spend a half a million dollars of taxpayers’ money to collect data on foreign ownership of our real estate market to ensure that the purchase of homes by foreign, non-resident investors doesn’t affect the “availability and affordability of homes for Canadians”?

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6 Important Rules That Will Preserve the Value of Condos

Huffington Post

By Dan S. Barnabic, July 15, 2015

After extensive research based on which I wrote numerous articles on the subject of condominiums — their inherent ownership problems, expected physical longevity, and the role they play as an alternative housing arrangement — it became evident that 15 years from the time they are built, condo complexes enter a phase where major elements start giving up, requiring expenditures that, in many cases, may not be covered by their fiscal budgets or reserve funds.

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Short-Sighted Politicians Are Fuelling Canada’s Housing Crisis

canada

By Dan S. Barnabic, May 29, 2015

The latest example of Canadian politicians’ (in)action in regard to real estate prices getting out of control is the recent decision by the B.C. Premier Christy Clark, to reject the idea of raising taxes for overseas investors — despite a petition from her constituents that attracted some 25,000 signatures. “By moving foreign owners out of the market, housing prices will drop,” she reasoned, voicing her concern about the (possible) loss of present homeowners’ equity.

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