The financial crisis in United States have made a global impact. There are reports of up to 27% decline in real estate prices in various states in America, particularly California and Florida. Well, all this is not news.

What’s interesting is that real estate market in Canada, particularly in Toronto, does not seem to have as greater impact. Although I admit that being a bystander, I may not know as much.One thing I did notice recently is that a few builders are offering good incentives to lure buyers. I saw an add (picture attached) in Toronto Star, where Conservatory Group are offering zero percent financing for three years for new homes currently available in their inventory. This offer is available for their new homes at Oakdale community, a division of new homes in North York. Hwy 400/ Hwy 401.Lets consider the amount of saving one would get if he buys a home using this offer.Lets say a decent home in their inventory costs  CAD 300,000. They are asking for a down payment of 15%

Cost 300,000 Down payment 15% - 45,000 Remaining Balance 255,000