Quote:
Originally Posted by cmyden
I really don't want to derail this thread with my thoughts on the Canadian housing market, but I just shake my head when I read statements such as 'I don't have the money, but I can afford a second home'.
It's the classic bubble mentality that's been around as long as there has been markets. The notion that an asset class is affordable only because it has a perceived never-ending increase in value and not based on fundamentals.
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I agree with you on the statement, but don't agree that we're in a bubble. I think the new regulations will help prevent that as well.