What Could Stall the Housing Recovery
Ann-Marie Lurie, chief economist with the Calgary Real Estate Board, said the past two months have seen sales activity in the city shoot up higher than long-term trends. aBoth in July and August, those numbers were a little stronger. Part of that I think is due to the fact of the floods (in June),a said Lurie.
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If so, youve probably wondered if you should still invest in the active housing market. But things in the housing market may not be what they appear. Just as we’ve finally established that the housing market is picking up, the opposite may be true. A few things are going on right now that are not in favor of a recovering housing market. The Federal Housing Finance Agency recently announced its plan to reduce the cap on mortgages backed by Fannie Mae and Freddie Mac. Right now, the companies back roughly $417,000, and for some of the most expensive areas, its as much as $625,500. learn more
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