Saturday, October 31, 2009

Have a Happy and Safe Hallowe'en

For those who would like some reading...

Further evidence our concerns about real estate, CMHC and a looming collapse are finally going mainstream. From yesterday's Globe and Mail, 'Easy credit, soaring prices raise new housing fears'.

  • "Canadians are buying homes at a blistering pace, binging on new debt. But all that cheap money can come at a high cost... Central bankers in the U.S. and elsewhere [have] indicated in recent months that once they decide it's time to begin raising interest rates, they may do so at a faster pace than consumers and investors are used to... [Meanwhile] novice buyers are jumping into surging real estate markets in Vancouver, Calgary and Toronto with little understanding that the value of the asset they covet can disintegrate."


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