Quote:
Originally Posted by flamey_mcflame
Hmm..check the interest rates in Canada at the during that time frame. Interest rates caused by Reaganomics. People's houses dropped in value because people couldn't afford the new rates being charged for their mortgages. People walked out of their houses causing the housing industry to slump which caused lower housing prices. Its a bit like the ARM's in the US today. If there is a glut of real estate on the market, the price of real estate goes down.
|
Quote:
Originally Posted by flamey_mcflame
Maybe because the price of the house in Toronto didn't double between 1973-1981.
|
So interest rates uniquely impacted the West because their house values rose faster than the East over the prior 8 years.... and not other impacts like the NEP.
Larf. flamey_mcflame = Johnny 99 version 2.0. Any calpuckist will tell you that.