Lots of stuff out today about housing prices being to high, interest rates increasing, debt mounting etc. Again, Conference Board of Canada now leaning the other way (WTF) lol.
Quote:
On Monday, the Conference Board of Canada sounded a similar warning in a report, saying 20 per cent of Canadian households struggle to afford their homes.
"The unaffordability tends to affect cities more than rural areas. So anybody that lives in a city is probably at higher risk, especially in cities with buoyant housing markets like Calgary, Vancouver and Toronto," said Mike Grant, an economist with the conference board.
"The rate (of unaffordability) in Calgary is somewhat higher than the rate for Canada. It's one in five for Canada, about 20 per cent, but more like 25 per cent for Calgary."
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http://www.vancouversun.com/business...425/story.html
Didn't I just post a link a week or more ago from them saying Calgary was more affordable again.
Some other dude from the same article
Quote:
Home prices in Calgary are overvalued by 15 to 20 per cent, "seriously unaffordable," and set to start falling, says a nationally known economic and housing market commentator.
Garth Turner, who is in Calgary tonight to speak about his views, said the residential real estate market is at the top of its curve.
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