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In Zurich, Switzerland (rated as the best city in the world in 2003 – http://news.bbc.co.uk/2/hi/europe/2815625.stm), about one third of resident own their homes. The rest rent. Why? I asked someone from Zurich.

"We choose not to own because it would be too expensive. Property taxes are high, and there are many problems in maintaining a property. Why would you want to own?"

Let's remember that Switzerland has an unemployment rate of only 3.1% (and Zurich's rate is even lower). House prices in Switzerland have only increased 19% since 1997, and that's despite the fact that in Switzerland you can write off your mortgage interest.

Interesting. And you know what really blew me away? My friend from Switzerland said, "In Zurich, you can rent very nice flats. Why would you want to buy one?"

Perhaps this is what happens in a society that has been around since 1291.

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Tayman,

The answer is no that's not true unless you make a list of similarities hmm?unless you reach up to that point i would like to mention some facts that makes Canada different.

1.Foreign Policy and Governing Body

2.Structure of Streets and Highway

3.Beauty and Livablities

4.Bordering with USA

5.Whistler,Black Comb,Squamish is in b.c.-Canada

0(priceless).Mountain,oceanic views,clean air,quality of life,best scenic drive"THE BEST PLACE ON EARTH"

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people tend to grasp at any straw available, whether it is here or across the pond……

but it would seem we are fighting for the same "rich immigrants" as they are…..

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"But it's okay, because London is different. All the Russians will buy up all the housing. The City makes trillions. Britain is a small island where they are not making new land."

I am new to this but, for me, there seem to be a lot of similarities to the UK and Canadain housing markets. Is this so?

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"But it's okay, because London is different. All the Russians will buy up all the housing. The City makes trillions. Britain is a small island where they are not making new land."

I am new to this but, for me, there seem to be a lot of similarities to the UK and Canadain housing markets.

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"I can say that RE will experience huge gains and get laughed at, but maybe some time in the next 4-5 years I’ll be right too. Then you’ll be wrong!"

Being right for the wrong reasons has little value though. There is a science to these things, most of us bears here are following scientific methods to determine the outcome. This kind of methodology has value. Most of us know that guessing the timing of the collapse until graph features like the current inventory spike occur is futile.

However we CAN tell you when the market is in a position beyond it's sustainable maximum. Once a market has reached beyond it's sustainable limit it is a fool's market, intelligent investors got out in the '90s (which is why there was a slight dip in prices) when prices started to outpace fundamentals.

Anyone who stayed in after that point was gambling, not investing. Which is not to say you can't gamble and win. People do that all the time. It's just that it's success through blind luck rather than intelligent analysis and forethought.

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once in a lifetime!!

my sentiments exactly

sometime to tell your grandchildren

"when i was your age i had to walk to school past many houses that were worth more than a million dollars each … ahh the good ol' days"

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