Getting tired of the word ‘bubble’ yet?
With all the news stories and predictions of an Canadian real estate market crash, it’s time for the leader of this great nation to chime in with his opinion:
…Harper told a New York business audience that he did not anticipate a housing crisis in Canada, and that that there was no comparison between the Canadian housing market now and the U.S. market before the crash of 2008.
He said only small percentage of Canadian households would be vulnerable to interest rate hikes or a downturn in prices.
On the flipside of the argument is a securities analyst with a book to sell and a negative message:
In an interview published in the Globe and Mail today, MacBeth predicts a serious crash in house prices as soon as this coming spring, and advises people with large mortgages to sell, and rent.. His book, When the Bubble Bursts, forecasts a drop of up to 50 per cent in housing prices.
Read the full article here.