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                                      Canadian housing prices need to be better understood 12/21/2008
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                                      This information is compliments of Canadian Business Blog from December 9, 2008.

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                                      Canadians think house prices are tumbling in Canada thanks to Canadian Real Estate Association (CREA) reports that say prices have dropped 10% over the year. But it’s generally recognized their methodology is flawed: CREA compares average prices between two periods even though the composition of houses sold in the two periods can be quite different in terms of type, dwelling size, quality, etc.

                                      A new price index gets around the apples-to-oranges comparison and shows by how much CREA statistics miss the mark. The repeat-sale price index (RSPI), developed by Teranet Inc. and National Bank, says house prices are still above the level of a year ago (by 3.3%). For more detail on the RSPI, see the website maintained by Teranet Inc. and National Bank (also shows price changes at the city level).

                                      The RSPI approach is what’s used in the U.S. for the S&P/Case-Shiller and the Office of Federal Housing Enterprise Oversight (OFHEO) indexes. And now that Canada has the same approach, comparisons with the U.S. are more valid (the S&P/Case-Shiller index is down almost 20% year-over-year, showing how much worse things are in the U.S. at present).

                                      Visit the link for this blog post for the rest of the details

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                                      At AltaPacific Mortgage Investment Co. we'd like to speak do you about diversifying your investment portfolio (including those Canadians that invest with RSPs) by investing in Western Canadian mortgages. We know that investing can be confusing and often the person you're entrusting your money with is not the person that will actually be investing your hard earned (or saved) funds.  Imagine meeting the actual people that will take your investment dollars and manage them personally and directly.  The team at AltaPacific are highly experienced in Western Canadian real estate investing.  Feel free to contact us for a discussion about your RSP investments or private placement dollars.  There is no obligations and no high pressure sales presentations - we'll tell you about what we do and what we believe in.  If it sounds right for you then we can discuss how you can invest.

                                       


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