Halifax’s Condo Real Estate Specialists

Perspective from a Mortgage Consultant

Posted on Apr 25, 2013

We are pleased to share with you a guest poster to the condo company blog.  Scott Walker is a mortgage consultant with HLC(Home Loans Canada) and one of our trusted partners.  He is a seasoned industry professional with 20 years experience.  He brings a wealth of knowledge and perspective into the HRM real estate and condo markets.  Check back regularly for Scotts comments.  Thanks Scott and we look forward to more posts in the future.  AP

Some thoughts on the Economic, CMHC Housing Market Outlook, First Quarter 2013

– Nationally it looks like we have avoided any real crises with regard to housing decrease. It would appear this was the result of a well-managed easing of Mortgage Amortization Schedules from 40 years back to the traditional 25 years by the federal Government.

– Atlantic Canada as a whole will remain below 2% GDP growth in 2013 and 2014 as a result of only moderate employment growth and a reduction in spending and investment activity by both the public and private sectors.

– Nova Scotia will have the best Economic performance in Atlantic Canada, 1.4% in 2013 and 1.7% in 2014.  The province will see meaningful improvements in employment of close to 1%. This is better than last year, which saw an improvement as well. The difference this year is employment growth will be focused mainly on full-time employment. This is as a result of the last few years and a focus on opportunities tied to resource development.

– Halifax is showing what can only be described as a very well balance unemployment rate of 6.4%. If my memory serves me correctly from Economics class 6% is the optimal for an economy. This leaves just enough people looking for work to help with growing Business on a sustainable leave.

Need good sound advice on mortgages, Scott can be easily reached by email scott@scottwalker1.com

As always if you are looking to buy or sell a condo we can be contacted at info@condo-company.ca