A Final Thought About The Potential Housing Bubble
In discussing the recent report which led to a minor frenzy of housing bubble related media coverage, one of my main points was that it was unwise to predict countrywide drops in housing prices for a country with some pretty important differences from one region or city to another. Specifically, the data I presented showed…
Read moreMaybe Prices Aren’t Going To Drop THAT Much
Yesterday I discussed a report that suggested that the Canadian housing market was due for a big price correction. The primary piece of evidence used by the research firm Capital Economics was that the ratio of house prices to disposable income per capita was 25% above their expected levels, according to the company’s calculations. In…
Read moreResearch Firm Predicts 25% Drop in Canadian Housing Prices
A report by Capital Economics, suggests that house prices in Canada could fall by 25% over the next three years. The report points to some specific concerns for their worrying prediction: -Housing prices relative to disposable income are 25% overvalued -Unoccupied housing units are at historical highs -The homeownership rate has increased sharply over the…
Read moreThe Mysterious Vancouver Housing Bubble
The fact that Vancouver is currently in the midst of a housing bubble is very much un-mysterious. House prices are up 21% over the last year and 188% over the last decade. The average house in Vancouver is 11.1 times the average annual income, double the national average. The mystery lies in what the driving…
Read moreCanada’s Housing Market: Not Too Hot, Not Too Cold
“The Canadian housing market has seen some big ups and downs in recent years, making national sales activity so far this year look like something of a Goldilocks story by comparison,” affirmed CREA’s president Gary Morse, “not too hot, not too cold.” The latest data released by the Canadian Real Estate Association (CREA) suggests that…
Read moreHow affordable is housing in Canada anyway?
With the pricing for basic necessities like gas and food on the rise, it is no surprise that people are more conscious of how they spend their money. As a result, the average person is even more hesitant with regard to housing and the plausibility of making a purchase that requires such a sizable investment. Staying abreast…
Read moreCanadian Home Prices Will Appreciate in 2011, Says Royal LePage
Royal LePage, a real estate services firm, says that the average home price in Canada could see an increase, fuelled by good home sales in the first half of 2011, in the light of the low interest climate.
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