House prices: 9 reasons not to panic
To say house prices are going to crash like they did in the U.S. is a stretch. Here are nine reasons why.
Home prices have been the subject of much debate in recent news, and evidence of prices falling is apparent. This article from Canadian Business gives reasons why homeowners should not see these events as a threat.
Those who are predicting a housing crash tend to cite similar events in the United States as proof of what is to come. This article reports that historically, such a dramatic change is rare and recent events are not necessarily an indication of what is to come.
Another recently popular topic is mortgage debt, which financial journalists tend to portray as a negative. It often seems that low mortgage rates and rising family incomes are being overlooked.
It is also important to remember the investment owning a home becomes. "Owning a home is an inflation hedge, and unlike precious metals, the owners get to live in their hedge." - Larry MacDonald
For the full article from Canadian Business, click here.