25 Mar 2013

Low interest rates point to potential surge in decline in Canadian housing market {low interest rates = surge because they spur people to go out and buy}

The Canadian housing market is in a decline, but it has the potential to rise steadily, according to a recent study conducted by the Canadian Real Estate Association (CREA).

The CREA reports that housing activity started slowing last August after changes to mortgage lending rules and guidelines, but it added that sales are expected to improve later this year. The CREA states the improvement should come from low interest rates, which would support purchasing activity and last into 2014.

For those fortunate enough to buy or sell an existing home in the current conditions, self storage is a prime way to keep household goods in quality shape throughout the move.

"Mortgage rules are expected to remain as they are, so sales should be less volatile than they have been in recent years," said Gregory Klump, the CREA's chief economist.

The CREA foresees steady improvement in 2014, forecasting that national activity will surge 4.5 percent.

Self storage can be a smart way to hang on to valuable items without taking up room in a house or apartment. For Toronto storage solutions, there's no better than Jiffy Self Storage. Those interested in self storage should check out the affordable rates on Jiffy's website, where they can also enter to win a free iPad 3.

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