“I hope he looks at markets where affordability is already an issue, like Vancouver."
"The real threat to the economy is if a real-estate slowdown leads to a sharp reduction in housing starts. That’s because new-home construction stimulates the sale of appliances, carpets, and other products. For every housing start, there are 2.8 person years of employment that are create.That’s direct and indirect jobs.”
“If it continues to fall, they’re going to have to take a good hard look at what their actions have caused — and be prepared to make some adjustments. I don’t know what those adjustments are.”
But I don't think that's going to do it for Mr. Simpson. Somehow I suspect Peter is actually more concerned about asset price-protection than he is about seeing "affordability" come into play.
Click 'comments' below to contribute to this post.