Affordable and Growing… How?

“Supply of properties for sale is dropping as demand bounces back, which is working to heat up prices again in many parts of the country.” says Robert Hogue, senior economist, RBC. (The Royal Bank of Canada)

Home ownership in Canada became more affordable for the fifth straight quarter with modest improvement registered across the country, says the second quarter housing report by RBC Economics Research.

“Following the biggest quarterly improvements on record in the first quarter and continued improvement in the second quarter, the national home affordability level has been restored to pre-housing boom levels” says Robert Hogue, senior economist, RBC. However, the recuperative phase of the affordability cycle seems to be drawing to a close with housing prices firming up in many parts of the country and mortgage rates no longer trending downward. (read the rest of the article)

?The leveling off of home affordability is not expected to stop the impressive resurgence in the housing market,? says Hogue.

Tears of joy on arrival in Cranbrook

He had tears in his eyes… That was the reaction of Ivan Rhodes when he stepped off of his Air Canada flight at the Canadian Rockies International Airport in Cranbrook, BC, Canada. “I have never seen such a spectacular view in my life” said the 45 year old executive. Ivan and his wife Janette, originally from Yorkshire England, but long-time residents of the Canary Islands, have followed the market excitement surrounding the Cranbrook region, and invested in a pristine piece of land in the beautiful area of Jim Smith Lake just outside of the city of Cranbrook.

Ivan and his family have been in the hotel and resort business for many years in the UK and Spain, and have a vast portfolio of property in select but high-growth markets. “We love the west coast of Canada, and we selected the lovely town of Cranbrook and its picturesque surroundings for our investment, because it has the beauty, the infrastructure, and fantastic people”. The Rhodes family see a bright future for this region, and look forward to expanding their portfolio in the future. Derek Muhs, an international property developer also along for the trip echoed Mr Rhodes sentiments, saying “This part of the world sells itself! It is love at first sight.” It was not all nature however…the local beers were sampled and received rave reviews by the whole gang.