Tuesday Morning: Housing Market and Subprime on the news

Good morning, Montreal.
Here is a list of Real Estate market, subprime mortgage and Commercial Real Estate investment news.

• Soft landing predicted for real estate [Montreal Gazette]
  Economists say they’re expecting a soft landing for the Canadian real estate market despite a new study that concludes house prices in Montreal and other major Canadian cities are overvalued by as much as 25 per cent.
• Housing market rebounds, Ontario leads way [Reuters.ca]
  Housing starts rebounded in August, beating expectations, but some economists cautioned against reading too much into the number since it followed a weak reading in July.
• CIBC chief says corner being turned on subprime [Calgary Herald]
  The top executive at Canadian Imperial Bank of Commerce shied away from predicting when the bank would stop taking structured-credit charges, but he hinted the worst of its subprime mortgage troubles could be over.
• CREIT Buys 8 Canadian Tire Properties for $137M [Commercial Property News]
  Canadian Real Estate Investment Trust (CREIT) has acquired a portfolio of eight retail properties from Canadian Tire for C$137.3 million. Canadian Tire has leased each of the eight properties back under 15-year triple-net leases at current market rental rates, with escalating contractual rents over the term. The properties have all been either significantly renovated or expanded within three years by Canadian Tire.

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Posted by:  Deya Bautista - Affiliated Real Estate Agent working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889

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