Grain of Salt Required for Latest Real Estate and Mortgage News

By Bruce on September 26, 2008 3:57 PM in Mortgage News | | Comments (0)

If you get your news online you've likely seen a rash of contradictory headlines about the health of Canadian mortgage lenders and the real estate market lately. It's enough to make your head spin.

Here's a couple of items that came off the wire in the past 24 hours: from BC Local News, "Ritzy real estate could wilt", and from the Regina Leader-Post,"High demand for high-end homes in Regina".

Granted, the first article is talking about the stratospheric Vancouver luxury market, where high end homes start at $2 million, and the second is discussing the considerably more modest Regina market, where "expensive still means under $1 million. But still, the contradictions remain.

Another example includes the Globe & Mail, with "Housing market at risk" facing off against the Montreal Gazette's "Not as bad as it seems".

The latter article provides ample statistical evidence to show that things are better than you probably think. Economic fundamentals are strong, including in the U.S. In fact, the writer claims that about 97% of American mortgages are "in good order".

For news junkies, the bottom line is this. Get out the salt shaker. You need a massive dose of sodium to swallow some of this stuff.

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