Excellent infographic from Canadian Business Magazine in an article titled: Infographic - Just how overvalued are Canadian homes? It depends who you ask.
The long-anticipated slowdown in Canadian residential real estate is now underway, and guessing how far national home prices might fall has become a popular pastime—scarcely a month goes by without a new estimate making headlines. The astute observer may discern some correlation between the tone of the prediction and the economic interests of its promoter. After all, it seems like the sunniest forecasts come from realtors and banks who are active in mortgage lending; leave it to the depraved journalists - particularly those pessimistic foreign ones - to envisage a fiery apocalypse in our future.
Hmmm... seems like Canadian Business Magazine is asking "who ya gonna trust?". Those with a vested interest or impartial observers.
Wonder where depraved bloggers fit into this spectrum?
Hat tip Democrass on VCI.
Wonder where depraved bloggers fit into this spectrum?
Hat tip Democrass on VCI.
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90% at least, like all bubbles go. I tend to go with a bit more, since the general credit bubble has forced more hot debt into everything (housing included) than a simple good old fashioned mania would have done by itself. And in a return to mean, the mean has gone down since about the 1970s.
ReplyDeleteSo it's more like 95-97%.
Completely Delusional. You are saying a 1 mill property goes down to 30k?
Delete"Wonder where depraved bloggers fit into this spectrum?"
ReplyDeleteThey're in the UFOs :)
There is just no income to support the prices we have....as we all know the prices are dropping since 2012, just ask your RE agent...NOT !!! If we're lucky it will be a price adjustment over next few years and only a few will lose home.
ReplyDelete