Toronto, Mississauga and GTA Real Estate market observations and predictions for 2011 and 2010
Go straight to my 2011 Predictions

This is what I predict for 2010 in real estate, interest rates and more!

• Interest rates will increase in 2010, the Bank of Canada is currently stating rates will increase in mid 2010 - this will put downward pressure on prices after rates increase, but will cause many buyers to buy before the rates increase and anticipation of the increase in rates
• there will be a shortage of listings for at least January and maybe into February, this is a near certainty based upon the past 22 years for January and early February, not many people list their homes at these times - this will cause upward pressure on prices in the fist quarter of 2010
• HST will come into effect July 1, 2010 and this will increase the cost when selling your home and to a lesser extent increase the cost to the buyers, this will put slight downward pressure on prices

• the US real estate recovery seems to be chugging along, not quick, slow but sure
• the US and global economy will improve in 2010
• people may perceive that the HST will causes prices to increase once it comes into effect and try to save some money before July 1st and this could cause a mini boom in our market in the late spring of 2010

• These are my predictions for 2010 below and also online at this link: http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2010.htm#2010
• I predict that our prices will increase about 4 to 6% in 2010 with some softening in our market when the Bank of Canada increases rates in the middle of 2010, once the Olympics end in the first quarter of 2010 and the 'dreaded' HST comes into affect July 1st of 2010
• Mortgage rates will increase beginning about July of this year, the bank prime rate as of January 1, 2010 is 0.25% and I predict by year end it will be at 1.00% to 1.50%  This means that current mortgage interest rates will increase by about 1.25% to 2% over what they currently are.  This may sound excessive, but I firmly believe that our economy will bustle this year and increased rates will be necessary to calm things down a little, plus the banks will want to gouge a little in light of increasing prime rates.  They often do this when rates are increasing as they can get away with it with little backlash.
• I still believe you should go short term on your mortgage, read more here about why I feel this way:  http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm
• We live in a very vibrant, growth oriented area of North America with a very diverse economy and culture.  People seem to want to work hard and improve upon their personal and financial situation and almost everyone I meet is employed and optimistic about the future.  This is good for the local economy and our future.
• No matter what happens, as long as you continue to work hard, save 10% of your gross income, watch what you spend, don't get into too much debt that you can't handle it should you find yourself with a a job for a few months, then you should be able to slowly and surely achieve financial independence. 
• The condo market will continue to surge, it's affordable and desirable
• Bungalow style homes will become more desirable, (they currently are very desirable), as our population age increases
• Barrel of oil will be $100 at end of year and gasoline will be $1.10 and gold will be $1100 per ounce at end of 2010
• Once again, beware the emotions of the marketplace and stick to your long range goals , currently I believe we are in the optimism/excitement phase so things may get really hot this spring in the market.
• I still subscribe to all the values and principles that I've written about in the past on this page below. 
• I am a very optimistic person and always believe that I can do better by reading and doing things every day that contributes to my long term goals.  I always set high but attainable goals and often come close to reaching my goals and even if I fall short, I've surpassed what I have done in the past.  I subscribe to many newsletters that preach optimism and growth and these help me stay sharp and continue to learn.  Every day I seem to learn something new, so at least I'm growing.  You can read some of the ideas that I subscribe to and believe at this page:  http://www.mississauga4sale.com/Motivation-Success-Ten-Scrolls.htm