Canada’s finance minister is taking credit for the recent cooling in the hot housing market, saying a slowdown now is better than a crash later.
Full story :http://business.financialpost.com/2012/12/03/cooling-housing-market-shows-stricter-mortgage-rules-working-flaherty/
Stricter mortgage rules have softened the market but it also makes it a healthier market for sellers to list their homes in. Less deals falling through because pre-approvals are being done prior to even working with a Realtor to make sure they can afford what they are looking. This is great market to buy as well due to the low interest rates. Think about it, why pay someone elses mortgage... get a downpayment together and get in the market as soon as you can. Real estate is the best investment of your life. Let me show you how.