Why must we be so critical about the current Ottawa real estate market, Its a great time to buy and sell

Just read Steve Maich's article about the so-called real estate "mania" and I am quite surprised at the simplicity of his opinions on this wonderful, exciting seller's market.

I may be a tad biased as a Real Estate Agent in Ottawa, but the value of owning property in Ottawa is a great investment! I was a little disturbed by Maich's feelings towards the housing market here in Ottawa being compared to such areas as Detroit where the unemployment rate is significant and crippling, and owning a car is not at all the same responsibility as owning land, as the value of a ten year old home does not depreciate in value at any alarming rate like a ten year old car does. 

Needless to say, I was not impressed with the notion that putting more money into the banking system is the best return on my investment - its just an easy solution with very little security from possible future corporate corruption or government tax law changes. 

Simply put, my house is tangible, I can touch it, fix it and call it my own - I need to live somewhere and therefore its value is priceless :)

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Rachel Hammer
 
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• Vicki & Patrick