Quote:
Originally Posted by Slava
BMO reported yesterday that they felt that the Canadian market would slowly decline. I know that goes against the feel good narrative that many in this thread like to see, but its a conclusion and prediction that is pretty hard to argue with for the most part. In other words, no bubble in Canada.
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It is interesting that all the banks and newpapers have been making note of it. But really, it's not like income has suddenly dropped this month or that debt and home prices have suddenly spiked this week. It's really just a continuation trends over the course of previous years - heck, this tread is a historical record of it (and people discussing opinions about it.)
I found this interesting from the BMO report:
http://calgaryrealestatereview.com/2...ny-other-name/
Don’t call it a bubble, it’s a balloon.
In an interview aired on November 29, 2005, NAR’s then chief economist David Lereah had some eerily similar thoughts on the US housing market. Below are some highlights:
DAVID LEREAH: Balloons don’t burst. You can put air in a balloon and it can expand or you can deflate a balloon, where air comes out. So if you’re looking at different metro markets around this country that got real hot over the last four years, I like to use the imagery of balloons because they’re getting hot. You’re putting more air into those balloons. The prices are going up. But now air can come out of the balloon rather than the balloon popping.