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Old 03-08-2016, 10:13 AM   #3041
troutman
Unfrozen Caveman Lawyer
 
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Join Date: Oct 2002
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Quote:
Originally Posted by BrownDrake View Post
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.
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

Last edited by troutman; 03-08-2016 at 10:19 AM.
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