[opendoor]

Garth Turner, LOL. He has been predicting a housing crash for the last 15 years or so. He wrote this in 2012 back when the average house price was $350K (it's now ~$750K):

Was it only a few days ago some economists were calling my words “bunk”? Saying it would take some kind of external disaster, “a major economic recession, a downturn, or perhaps a financial crisis, a political crisis,” to rattle real estate?


You’d think economists would be able to see what average folks do. Prices are ridiculous, the economy’s barely moving, wages and salaries are flat, gas and food costs a fortune and we all have too much damn debt. Besides, 70% of Canadians already have houses, so how much actual demand is there? Meanwhile credit’s been tightened thanks to F & the Peckerettes, so mortgages are more expensive and more elusive for first-time buyers. Cash-back loans are gone. HELOC limits have been slashed and equity-based mortgages are being phased out. Like, what did these guys expect? Why should anyone buy right now?