Is there a housing bubble in Vancouver?
By ebizniz on July 22, 2007 - 5:53pm
A blog posting by Vancouver Home Mortgage :
The U.S. housing market has been on a downward slide for the past 1.5 years. More troubles on sub-prime mortgage problems and foreclosures are being reported every month. Each month, there are more bad news that home builders are slashing prices to unload their inventories. The housing problem in the U.S. as reported by many economists is nowhere near to hitting the bottom yet!
On the contrary, Canada real estate across all the provinces are reported to continue their upward march to new record house prices. House prices are now double what they were 5 years ago!
Why Canada so different from the U.S.? Is there a danger that the real estate prices in Canada will fall like the US?
Many people are wondering whether we are at the top or near the top of the housing market. What are your thoughts? You are welcome to post your comments here.
