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VodkaPundit

Set Course for Correction!

May 16th, 2013 - 9:06 am

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Our friends to the north have been doing quite well the last few years, but that sure looks like a housing bubble getting ready to pop.

The chart comes from Jesse Colombo, who I highly recommend following.

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All Comments   (3)
All Comments   (3)
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If you're interested in Canadian Real Estate, I recommend Garth Turner's greaterfool.ca

he's a good writer--his posts are mostly rants that are fun to read, and he knows what he's talking about. He thinks that only a fool would buy a house in today's market.
47 weeks ago
47 weeks ago Link To Comment
Not necessarily. Canada has put through some very good changes in government, becoming more conservative. IOW, they are moving in the right direction. This causes people to be justifiably optimistic. I mean, the unemployment rate is, what, 5.5%? That is unheard of, for Canada!

It may be a bubble, but it looks justified. It looks to be based on real wealth creation. The housing prices SHOULD be rising, based on economic conditions.
47 weeks ago
47 weeks ago Link To Comment
I don't know about Canada as a whole, but the greater Toronto area appears to be a big bubble, judging from HGTV's schedule. Love It or List It, The Property Brothers, and Scott whathisname have these shows buying and selling residences and rental properties, and the prices are !WOW! for the most part. Certainly as bad as the most overpriced US metro markets were, and DC still is.
47 weeks ago
47 weeks ago Link To Comment
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