A question I get asked about is whether or not what's transpiring in Quebec politics is affecting the value of your home and investment properties? I think it might be too early to answer that question given the upcoming election. Stay tuned folks...
As most of you are aware, in an attempt to cool market values in Canada the Federal Government has implemented a few mortgage changes. These changes have been happening the past couple years. I agree with some changes such as amortization and limiting lines of credit however it's too soon to comment about the impact of Quebec politics. Having said that, the Federal changes are working.
I believe that what the Quebec Government has been focused on unfortunately distracts the public attention away from the real economic issues facing the Province. Market values in the Greater Montreal area have slowed or adjusted in many cities. I think this was expected as I've seen bank evaluations drop over the past three years. The banks are definitely playing it safe especially with condo values. I agree with this conservative approach. The future is still uncertain. I'm not suggesting we will have a market crash after the Quebec Provincial election however I do think market values will continue to slow. We do need job creation and economic growth in Quebec above anything else.
