Update on House Prices in Cobourg

There’s been a lot of discussion recently on the need for affordable housing in Cobourg – both new and rental. But many in Cobourg own their own house – in 2016, according to the census, there were 8,788 households in Cobourg and according to CMHC, in October 2018 there were 1068 rental units. The difference of over 7000 are mostly homes that are owned although perhaps with a mortgage. For many of these 7000+ households, this also represents a large part of their net worth and therefore their savings for retirement.  So the sale price of their home is important and the good news is that despite well-publicized talk of prices dropping, they have not. (Or bad news for renters). The same is… Read complete articleUpdate on House Prices in Cobourg