(Source: Financial Post)
Heather Harding and her husband, film editor Graham Withers, have been on the real estate sidelines looking for a home for the past 18 months. The Toronto couple, renters, started their search when the market was at the top and every home they looked at was “just too expensive.”
But now that prices are finally falling and affordability is increasing, there is another major stumbling block in their search: Job security.
“There just seems to be so much uncertainty. Prices in the range we have been looking at haven’t changed all that much, either,” said Mr. Withers.
“We keep waiting for the big housing crash,” said Ms. Harding.
They look to the situation in the United States and see prices dropping by as much as a third in value in many markets, but that hasn’t happened here.
The Canadian Real Estate Association said prices across the country in the first four months of 2009 were down 6.7% compared with a year ago.
Read the full article by Garry Marr “Riding the real estate roller coaster” in the Financial Post (June 5, 2009)