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Old 06-29-2011, 09:47 PM   #1928
chemgear
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Join Date: Feb 2010
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Yup, now CBC is even running with the story too:

http://www.cbc.ca/news/business/stor...economics.html

This one is a bit of a painful wall of text though:

http://www.theglobeandmail.com/repor...rticle2079775/

Probably the biggest reason why Mr. Carney did not mention the possibility of a bubble is that its presence isn’t a necessary condition for warning Canadians about the importance of preparing themselves for a significant decline in housing prices in the medium term. If small decreases in interest rates can produce large increases, then small increases in interest rates -- and such increases are inevitable -- can also generate large reductions in house prices.


At the end of the day if you're not in a rush, it seems like there isn't much upside to prices. At best things stay flat (even high oil prices/wages in Calgary and wicked low interest rates, sales numbers are still pretty pathetic overall.) Seems like there is a lot more weight on the downside for the next little while at least.

Personally, I'm really looking at the whole Greece/PIIGS situation, now that is some interesting stuff to watch progressing.
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