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Canadian home prices overinflated by 20 per cent!!

3/4/2013

1 Comment

 
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Many people are quite concerned that we are in for a major adjustment in Canadian Real Estate prices.  This is evident by recent declines across the country.  The conventional formula used to calculate mortgage debt to earnings is way out of whack and has been for some time.  I believe the Canadian Resource based economy is the only thing separating us from a similar real estate debacle that the U.S. has experienced.  Although many will argue are banking system is much safer, I would beg to differ when you consider the massive mortgage liabilities held by CMHC or in other words...THE TAXPAYER!!

http://www.theglobeandmail.com/report-on-business/economy/housing/canadian-home-prices-over-inflated-by-20-per-cent-fitch/article9257855/

http://theeconomicanalyst.com/content/cmhc-worse-shape-fannie-mae-was-yielding-floor-insightful-commenter

http://rabble.ca/blogs/bloggers/michael-laxer/nightmare-main-st-cmhc-and-canadian-housing-bubble

http://seekingalpha.com/article/236098-australia-following-canada-into-a-financial-black-hole

canadian_home_prices_overinflated_by_20_per_cent.pdf
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1 Comment
Travis
3/15/2013 01:06:12 am

Real estate does not seem to be getting any traction in Canada. Prices are just way overvalued! Talked to a realtor in Kelowna yesterday and he said anything over $400k is dead. He indicated there were a few sales in the $1mil category but the market is pretty much flat. He indicated people are finally realizing after 3 yrs that the proposed uptick may not materialize for some time and our now starting to drop their drawers.

http://license.icopyright.net/user/viewFreeUse.act?fuid=MTcwMTA5NzI%3D

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    Glen
    I have always been a straight shooter and a go getter.  Many have said Leslie must be a saint to have put up with me for over 40 years.  We have been business partners since the day we got married and each played an intrigal roll in our business success.  There is nothing more important to us than our Family & Friends.  Our love of people and travel has allowed us to develop amazing friendships around the world.

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