buy or wait ?

[JadeBeauty]

I want to buy a house to live. and friends told me that better to wait since the price comes down. It is a good idea to buy or wait?

Thanks a lot!

 

[bbb52]

I am waiting now.

 

[greenhand]

最初由 JadeBeauty 发布
I want to buy a house to live. and friends told me that better to wait since the price comes down. It is a good idea to buy or wait?

Thanks a lot!

If you want to live in that house, there is no good time or bad time. The longer you wait, the more money goes to rental, and you get anything.

I heard that Minto has already increased their prices for new homes for about $7,000 since Jan 1, 2007. Many other builders have either increased their prices or put more optional upgrades rather than standard features. You can also notice this change by going to each builder's website.

Besides, it seems that the interest rate is going down. Simply logic is that the lower interest rate is, the higher house price could be.

 

[Timothy's]

According to last 25 years history chart. Ottawa housing market is very stable. Only in 2 or 3 years house price lower like 3% When at same time U.S price down more than 10%.Most of year the price at least rise a bit. My guess it is because ottawa is goverment town this set it apart from rest of canada.

http://orebweb1.oreb.ca/avg_oreb_sale.shtml

 

[SipWorld]

Ottawa Housing Blubble

My opinion: Wait.

I would think we are in the peak (for detached new singles. I am expecting the new house price would drop ( I mean the housing prince may not really drop, but the home builder would give us more bonus)


Just for your reference:

1: Ottawa Housing Bubble (New homes):

http://pondpine.blogspot.com/

December Housing Starts Weaker Than Expected
Home Sales in Ottawa Hit New Record in 2006
Housing Starts in 2006 Reach Their 2nd Highest Level

2: Analysis from TD:

http://www.td.com/economics/finances/mpm1206.pdf
Look at the Housing Price Index for Canada (Please Note: it includes Alberta)
The housing price is increased sharply from fall 2005 to the end of 2006.

3: In average, (New homes + Resales), from Nov 2005 to Nov 2006, the housing price in Ottawa is increased 3.3%, and it just covers the inflation rate.

http://www.statcan.ca/Daily/English/070110/d070110c.htm



Just my 2 cents.

 

[JadeBeauty]

Thanks all. It is a painful process to buy a house. really. The price, the location, the house itself....

 

[WINDOWMAN]

Thanks a lot

 

[nanjingren]

should buy now, the price will be UP after May.