According-To-A-Survey-The-Time,-Which-The-America-288

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According-To-A-Survey-The-Time,-Which-The-America-288

  1. 1. According to a survey the time, which the America refers to as the greatcercacasa.it
  2. 2. recession, badly affected the US real estate An estimate is that one outof every five hundred houses went into foreclosure process It is theconsecutive fourth year and there are still no signs for the USA realestate market getting any better However, on the other hand, theCanadian real estate market has been doing great According to asurvey the time, which the America refers to as the great recession, badlyaffected the US real estate
  3. 3. An estimate is that one out of every five hundred houses went intoforeclosure process cercacasa.it It is the consecutive fourth year andthere are still no signs for the USA real estate market getting any betterHowever, on the other hand, the Canadian real estate market has beendoing great The Canadian banks showed no failure even in the greatdepression hit
  4. 4. Amazingly, the delinquency rate of the mortgages in Canada is less thanone percent The question is how Canada came on top in the real estatewhen the whole economy is going through recession The first thing,which is understandable, is the way their banks performed They used astrategy where the chances of loss were minimal
  5. 5. The banks in Canada lend money to those who people, whom theythought will be able to pay it back It sounds simple; however, it requiresa great responsibility at the end of the bank to conduct a proper enquiryfor each individual who applies for the loan The best part is that itshowed results If you compare the real estate of USA with Canada, theagents in Canada are not as busy as compared to the agents in USA
  6. 6. The difference in population is also an important consideration hereCanada has only recorded population of 34 million only, while USA has apopulation of over 307 million However, when we compare both themarkets, the economy is also an important factor USA is ranked number1 in the worldÂ’s economy, while Canada is only 9th
  7. 7. Considering all the above factors, it is obvious that adopting thestandards, which the Canadian banks have adopted might not be as easyand simple for USA banks But one thing is for sure, that the CanadianRegulatory system of Banks has proven to be very effective especially fortheir real estate market Another important factor is that the Canadianhomebuyers do not get any write-offs on taxes like in USA The only thinga Canadian homebuyer receives on buying a property is capital gain taxexemption
  8. 8. Therefore, as there are no mortgages interest deductions, the Canadianhave to quickly pay down their mortgages Another important factor is thenon-recourse loan The Canadians homeowners are required to pay offthe mortgage debts even if they have lost the home This way ahomeowner cannot get away from any real-estate loan debt
  9. 9. These strategies, which differ in the Canadian real estate, can be a greatlesson for the USA real estate The fact that Canadian real estate hasperformed a lot better than the USA real estate during the last few yearsproves that they must be doing something right Whether it be thebanking strategies or mortgage regulations, the experts should analyzeand compare both the markets and see what is there to adopt from theirstrategies Article Tags: , , , , ,
  10. 10. cercacasa.it

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