 鲜花( 1)  鸡蛋( 0)
|
欢迎讨论, 但千万别拍砖.: U m+ u1 |' J- [2 z- _
) X/ ]2 H: \8 Mhttp://www.globalnews.ca/money/w ... 42638608/story.html
# Z, q2 y, B& ?. w/ ~" b5 ^% J% N$ ^2 H
OTTAWA - For most Canadians their home is the biggest investment they'll ever make — but they might be surprised to learn you can use if for more than just sleeping.# w. f4 L- \# E% v
7 T {0 l! Q _5 V- j3 y
People generally don't think of their homes as a potential pile of cash in the bank, but experts say it's something worth pondering now that home prices in Canada may have hit their peak.; n$ N% k" `) j
0 M7 @6 }) z/ w
In fact, analysts say if finance is the only consideration, conditions now and into next year or so form a seldom seen sweet spot for using home equity as a type of asset for investment.
' }' v& F4 Y1 c: p5 M5 v! d) t5 K- U. ^
Why might it be a good time to sell?" L% |: @7 l0 m$ O2 s) g
" G8 @% m6 h2 T% s1 J6 x8 YAt about $370,000 average nationally — and just under $800,000 in Vancouver — home prices are already at record levels. Many observers believe prices are long due for a downward correction of anywhere from 10 per cent to 25 per cent, perhaps more in some of the hottest markets.+ @0 u% L- F( v/ w
$ l3 {6 \6 }. {
"Home prices to income, housing price to rent, all the indicators are setting off warning signals," said Derek Burleton, a senior economist with TD Bank.
: f5 m# [$ Z/ s L7 B+ {+ g' p9 R& T5 W0 p/ F
"If you are purely in it for reaping profits, now is not a bad time to sell" before prices drop.
. }+ ?3 b0 J, l7 e% k+ x
7 i# c! n, J3 u* y. s# i/ b5 \" XThe profits from selling a home can be used to build savings, eliminate debt, make traditional investments or, ironically, buy more real estate — albeit in a different market where home prices are lower.
, r) q; q0 W: m" D# C) }. \6 Q) \, {$ \9 K, S# S2 m
Of course, even if it makes sense financially, selling the family home to rent or move to a less expensive housing market doesn't make lifestyle sense for the vast majority of Canadians.
4 t0 s# ?# {& h4 G/ x6 O
! s. Q5 K6 Q- U- Y- @9 ~Burleton knows how they feel.
$ t+ n' V7 e, W1 N, O
: q" Q6 ^! M& [. L, W"I wouldn't want to sell my home right now even if I wind up taking a hit on the home price, just because I enjoy where I'm living and moving is a pain," he said.+ r Z4 B, O5 Q
4 z0 `$ K5 e( Q; eWhile there's no guarantee of a correction, observers note there are additional signs that the housing market could cool off in a big way.3 S& Y$ t4 [9 ~2 W8 W) Q
/ } T$ _+ `. [' R7 l7 B9 N6 RWith ownership levels near a record 70 per cent, demand is expected to wane, making it a buyers market for the first time in years.
) ` z0 f, p6 U5 o/ O6 S. X; n4 j6 M* j! Q9 h
And Bank of Canada governor Mark Carney warned last month he was preparing to hike rates, which along with tighter lending rules being applied by federal authorities could trigger a flight from real estate.
* B) w2 R+ S$ g5 M, G9 z# a8 L+ ?5 Z2 l. }
In market terms, selling a home at the peak is a way of "locking in" profits accumulated over the past decade of price appreciation — and tax free if it's the principal home.; V& u( h" f0 t' i
4 }2 J- Z. K3 n8 E" D+ \- h- o
Meanwhile, home valuations have been rising far faster than the rent they would fetch since at least 2000. Canada's home price-to-rent ratio is well above historic norms and among the highest in the advanced world.
) H4 Q% k0 E$ u$ ^ T5 ^+ J7 M: T |4 y) `" T/ G) ]
That is a hard indicator that homes are over-valued, but also that renting is relatively cheap compared to buying.
1 i3 H# ~1 r8 d1 ]& t: H( s) p3 g! R: F0 |
David Madani of Capital Economics, who anticipates a 25 per cent price crash over the next few years, cautions that like selling stock shares, timing is always tricky., } ~ f3 r. w8 g! E- S
( ~' \2 I9 A' P: e* p
"We're dealing with irrational exuberance. We've been treating housing like some magical financial asset that is going to solve all our problems because prices are always going up," he said.
: a3 E! t& s+ G* H" G
& E1 J0 [% O- }8 R"Of course, when the turn comes, the over-confidence that drove the market up can turn to fear. You are dealing with emotion ... so I don't believe in a soft landing."3 e J0 K2 s+ q$ b) x
5 f: q7 Q- {6 T$ S" Q" z
The market is clearly at or near peak, he said, so soon may indeed be the time to act. O( ]1 d3 G" A! ?% ]# ?
: o d! E3 P U( R% d) V; e5 B8 q; v% lBut then again he felt that way a year ago, he points out, and if households had acted on his advice they might not have gotten all the value they could from the premature sale. |
|
狗仔卡
发表于 2012-5-12 08:39
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
