Quote:
Originally Posted by polak
I don't know, my theory might be ridiculously off target but in an economy like Alberta's, wouldn't a real estate bubble burst only effect those that are using additional properties as investments? Since our economy is mostly reliant on external or recession proof demand (Oil, Agriculture, Low Cost-Big Box Retail hubs...etc) I can't imagine housing prices dropping and people losing money on investment properties would ravage our economy and lead to rampant unemployment i.e. the US crisis?
Those people who only have one, primary residence, should be okay outside of the fact that they may be over extended due to Canadian HELOC love, but if their jobs stay intact, they should still be able to make their payments and what not...?
I pulled all of this out of my a** as I was typing this so feel free to rip me a new one...
|
The economy as a whole is based in large part on housing. It happened here last time and we took a dip, why would it be different if it happened again.