So now we have shorter amortization periods effective March 18th and tougher mortgage qualification criteria along with a cap on the limit for homeowner financing. What's going to happen to our housing market?

Our housing market is changing every quarter. There are scores of bidding wars these past few months on semi-detached homes in Mississauga. We didn't quite see this kind of activity last fall. First time homebuyers are having to pay much more beyond their comfort level.

I've experienced a significant number of buyers heading towards Milton for semi-detached and detached homes as Mississauga is too beyond their comfort level for pricing.

Our advice from our parents "live within your means and spend wisely" holds true for real estate purchases...it's important to stick to your budget and in the event there is a correction in the market then you will be sleeping well at night instead of worrying about the next mortgage payment!