Rising house prices creating “wealth effect” among homeowners…lines of credit rise by more than 20 per cent as home equity values appreciate…average MLS home prices smash through previous records…Leon’s furniture in prime position to capitalize on boom…

With sales surging at a record pace and prices soaring to new highs, “piping hot” is how economists currently describe the Canadian housing market.

The Canadian housing market is truly on a tear. Homes sold through the Multiple Listing Service (MLS) have rocketed by 74 per cent since the trough in January, according to statistics published by the Canadian Real Estate Association (CREA).

Read the full article by Larry MacDonald, “Capitalize on the housing boom” in the Globe and Mail (Dec. 22, 2009).

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