Elections Results Effect?
With the uncertainty arising over the possible outcome in next week’s election, Conservative minority or majority, NDP as the official opposition or possibly a coalition with the Liberals with Jack Layton in the drivers seat, will the real estate market be affected? Whatever the outcome I believe there will be a pause in the market as buyers and renovators wait to see not only the results but the effects. Could the conservatives ask the BofC to enforce even stricter rules to borrowers? How will interest rates be effected? Depending on the final scenario we could end up with higher taxes because of spending by NDP and Liberals. Will investors still look favourably on Canada? Will the middle class feel secure enough to make large expenditures such as real estate or take on a wait and see attitude before taking the plunge. All in all it will be an interesting time.
