There is no Housing Bubble, you hear that loud and clear?
“1980s style housing bubble for Condo”?
CMHC does have a good sense of humor, eh?
Why did I say that?
To beign with, I didn’t know we had a significant “Condo” market during the 80s.
As far as I know, dwellings back then means houses with front yard and back yard (never mind the size).
There was hardly any “condo” during the 80s. To me, there was no such thing as “condo” back then. What was available in the highrise category meant for dwelling purpose are what we call “apartments”, typically for rental purpose.
Save for those with financial constraint (or perhaps other circumstantial reasons), I have never come across any family telling me they chose to buy/live in an apartment back in the old days.
Back to CMHC’s claim that there will be no 1980s style Housing Bubble for Condo … My question is how could there be a problem on something that didn’t exist in the first place?
Anyway, foreigners continue to buy Canadian real estate like there is no tomorrow … What slowdown?
Foreign capital drives Vancouver commercial real estate buying boom
But Wall Street Journal continues to blow up the “Bubble” … WSJ must be the Chicken Little?
Another Chicken Little?
That said, question …
Here is one of the price we gotta pay … (Remember, there is no free lunch): –
Looks like the only place having a slowdown is our oil sand Mecca …
But you know what?
S0, is 2016 going to be a tumultuous one for the real estate sector or not? Of course not … Who says? Guess everyone in the real estate business except maybe journos … eg. Wall Street Journal – Today’s Chicken Little.