Where do you want to live? Where can you afford to live? Every major Canadian city scoured for the cheapest lace to buy real estate!
Real estate in Canada has been going nuts lately! Home prices are sky high; while many feel the pressure to sell in this a hot real estate market. At the same time buyers fear they may just be getting themselves into an overpriced home and if the bubble bursts they could be sitting upside down for some time.
The best real estate deals in Canada are in Moncton and Regina. These cities got an A-. Fredericton, St. John’s, Ottawa, Gatineau, Winnipeg, Guelph and Saint John all got B+.
MoneySense looked at rent costs and average house costs which is a good indicator of the value of a home. Then it compared wages in the areas to average house prices to determine the time it takes for a family to actually buy a home. The magazine also examined how fast houses sold and how fast the prices increased over the years.
Finally, the economy of each city was also analyzed. They checked out how quickly the community grew, unemployment rates and the level of discretionary income.
By using this method Moneysense was able to avoid picking cheap real estate in cities where low real estate prices were caused be a poor economy or widespread unemployment.
The article is titled 'Best deals in real estate' and it's in the Yahoo! Finance section.
