Jun 25, 2014
By Bob Komsic
The price of cottages, cabins, condo and camps are climbing across Canada as young families and near or recent retiring Zoomers look for a place to kickback over the summer.
ReMax says a strong residential real estate market in urban centres has led to homeowners using equity gains to purchase a second property.
The realtor says while some potential buyers may have been discouraged by CMHC’s recent decision to do away with insurance on second mortgages, there’s been little to no impacts on sales.
ReMax also forecasts a weaker Canadian dollar’s prompted buyers to remain in this country rather than buy in the U.S.