In Canada: Immigrants, young buyers to buoy home sales

[pampango]

Maha Dabavneh moved from Jordan a year ago. CIBC expects immigrants will be a key driver
of Canada's housing market for the next decade.

A large bubble of people in their prime home-buying years, coupled with an influx of immigrants, is poised to support Canada's housing market for the next decade, a major bank economist said Thursday.

... immigration will act as a key supporter for real estate demand. Most of the growth in population is now due to immigration, Tal writes, and that bodes well for the housing market over the next decade.

While immigrants often face many hurdles integrating into society while finding a home and employment upon first arriving in Canada, the numbers show a significant uptick in home ownership after three years.

Indeed, "after ten years in Canada the propensity among immigrants to own a house is higher than among native-born Canadians," Tal writes.

http://www.cbc.ca/news/business/story/2012/08/23/housing-market-cibc.html

Nice to see that the housing market looks like it will be positive in the coming years in Canada. It is a testament to the way they have regulated their economy.

[SoCalDem]

1. Their housing market is quite different from ours

"House Hunters" and other HGTV shows often deal with Canadians, and their real estate rules for NEW homes are something else.. Often there is a premium tacked onto NEW builds. This encourages older homes to be in demand and stops "development sprawl"..and it keeps values up.