Credit card debt consolidation means you are merging your debts into a single debt account. You are given a repayment schedule that is prepared taking your convenience into account. So, you are able to keep track of your debt payments. Your monthly payments become affordable because the debt help firm you hire negotiates with the creditors for lower interest rates. So, you have to maintain a repayment schedule that you are expected to follow religiously.

In other words, your paycheck is assigned already for the different expenses. It is good if you build an emergency fund or else you are living on the edge. While you are making your monthly payments for the credit card consolidation program, you may face a sudden financial emergency. It may be unemployment, illness of a family member or a marital separation. All these circumstances require a sudden outflow of cash. Do you have enough to support these expenses? Everyone may not be able to meet the sudden financial emergency. This is when hell breaks loose. You are financially stranded!

You will certainly not overlook financial emergencies and continue making payments for your debt relief program. Since your income is already assigned for different expenses, you will have to address your financial emergency first. You stop making payment for the credit card consolidation program and meet other financial expenses instead. This causes you to fall behind on payments again. So, you go back to the state in which you were. Such a state can be agonizing and frustrating. This is why credit card consolidation may not work always. You are not at fault but you are a victim of circumstances.

The average price for transactions in the first two weeks of January was $395,307, compared to an average of $332,495 for the same period in 2009. “Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last year’s winter downturn,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour. “As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the Greater Toronto Area. The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

The average home price in 2009 climbed 4 percent to $395,460. The average price for December transactions was $411,931. “Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”

The average price for November transactions was up 14 per cent year-over-year to $418,460. The average price year-to-date was up four per cent to $394,464. “Very strong annual growth rates for sales and average price should be expected through the first quarter of 2010, because we will be comparing the current recovery to the housing market decline experienced last winter,” according to Jason Mercer, Toronto Real Estate Board’s Senior Manager of Market Analysis. “As we move into the spring, growth rates will move to more sustainable levels.”

At the same time the amount of rental transactions increased by almsot 40% and the number of listings by roughly 60%. Families looking to rent in Toronto have more choice on what to rent and can get better prices at the moment. This is definately good news for those who rent.

Most of the increase in the numbers comes from newly build condominiums in Toronto completed at the end of 2008. The number of condominium buildings finished in the last quarter of 2008 increased by 96% compared to 2007. Many of them registered as corporations in the beginning of 2009, leading to more investor owned units entering the Toronto rental market, causing the prices for rental units to drop.

The bank also said that it will continue to monitor the financial and economic developments in the country to figure out what they can do to get to that two percent inflation rate goal the set for the medium term. They also claim that sales activity and house for rent Toronto activity keeps declining with buyers and renters taking more time to look around.

In all of Canadas major markets sales activity dropped to over 15% from last months sales. Its because many homebuyers decided not make any drastic moves based on the news headlines about the stock markets and bad condition of the global economy.

Total sales activity was well down from levels seen in September in over three quarters of Canadian house market include the four most active zones such as Toronto, Montreal, Vancouver and Calgary. House for rent Toronto are also down as more people are hesitant to sell their property and would rather rent it out for the time being