Quote:
Originally Posted by BrownDrake
The problems in Canada are very similar to the US housing crash, we were just saved by a lowering of interest rates in 2008/9
Our home prices are out of control and going lower for the next 5 years even in a moderate oil recovery. Credit will not be easier to come by in the next 5 years as the previous 10. No more 40 year, zero downs, 35 year amortizations are now difficult. Down payment requirements going up and amortizations going down.
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I think I saw on CBC last week that Toronto and Vancouver set records for February sales volume.
http://www.thestar.com/business/2016...-february.html
Prices rise 11% in Toronto, 27% in Vancouver as buyers come out in force
http://www.cbc.ca/news/business/toro...tate-1.3474439