Monday, February 10, 2014

Canada Housing Market: Prolonged correction coming






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10 comments:

  1. AnonymousFebruary 10, 2014 at 11:19 AM

    I've been hearing these predictions for 5 years now and things are still going strong. 2014 will be another banner year. Perhaps the outlying areas and more remote cities will slow, but not TO. or Van.

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    1. AnonymousFebruary 10, 2014 at 11:46 AM

      Correction has been taking place since 2012, but it's segmented. Condos and homes over one million are taking a beating. Homes under 1 mill are still hot since you can get them with 5% and CMHC...that is the only segment of RE that still has fools rushing in. Some folks in the media have to show "cracks" in the market so they don't look like complete fools themselves and loose credibility. Bottom line is Canadian RE as an investment is done for next few years, but don't expect your RE agent to tell you that. He's still has BMW lease payments that need to be looked after. If they don't make a sale they don't eat.

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  2. davidFebruary 10, 2014 at 12:53 PM

    Being wrong for a long time before being proved right is classic successful bubble prediction. The bigger the bubble gets, the longer you're "wrong".....until you're not wrong at all. Then you're not the guy everyone laughs at....now you're the guy everyone hates.

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  3. AnonymousFebruary 10, 2014 at 1:31 PM

    5 years ..lol

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  4. AnonymousFebruary 13, 2014 at 3:55 PM

    Even a broken clock is right twice a day. Keep waiting and eventually you will be right!

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    1. davidFebruary 13, 2014 at 7:16 PM

      And if no one realizes it's broken, they might pay $1 million for it.

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  5. MichaelFebruary 16, 2014 at 12:58 PM

    All these bitter renters waiting like vultures for their fellow citizen's to lose their shirt in a housing collapse.

    How pathetic.

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    1. davidFebruary 17, 2014 at 1:11 PM

      What's worse...bitter renters or smug, delusional owners? Seems like a draw.

      Delete
  6. AnonymousFebruary 16, 2014 at 9:32 PM

    Michael, I know that no one wants to buy your house since about everyone wants to rent. I guess you regret being stuck with your overpaid mortgage.

    It is pretty much almost about all over for Vancouver real estate. The local real estate is still heavily dependent on very low emergency level interest rates to function. With the cancelling of the Immigrant Investor Program, all my Chinese clients whom I'm Chinese myself bought real estate earlier on and have sent their kids to school here as international students, paying lots of money, are still waiting for approval by the Investor program.

    Since the program is now scrapped, they see no need to have property here as they can no longer bring their family here and are now starting to cash out of the real estate and go somewhere else.

    We had an emergency meeting about this. Scary times indeed. Been in this industry for over 15 years.

    http://cnews.canoe.ca/CNEWS/Canada/2014/02/16/21474326.html

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