First Signs of the End of the Real Estate Bubble

[Belguy]

For the first signs of the end of the real estate bubble in Canada, cast your eyes westward:

http://www.greaterfool.ca/2012/08/23...medium=twitter

[dogcom]

No need to cast ones eyes westward as that has already been done. Garth is probably right after a decade or so of trying to call a top in real estate. In real estate it is best to let it speak to you on your budget and more to your terms rather then panic and try to get in at any price or settle for whatever location you can afford.
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[andrewf]

Garth is somewhat the boy who cried worth.

The credit tightening should have interesting effects. The hard cap on CMHC insurance is making banks hesitant to grant mortgages between 65 - 80% LTV in certain markets. Just the fact that credit expansion is going to grind to a halt after a decade of growing significantly faster than GDP might have some interesting impacts on the overall economy.

[kcowan]

The title is a bit wrong. The Victoria market peaked in 2010. It has been flat to slightly down ever since. Garth should look at the sales figures.

And Gulf Island properties are down 35% since 2008. An NDP government elected in mid-2013 will accelerate the downward cycle.

[martinv]

And Gulf Island properties are down 35% since 2008. An NDP government elected in mid-2013 will accelerate the downward cycle.

Waterfront West of Victoria is down about the same, that is if you can find a buyer at all. Terrific value for buyers not so much for sellers!
The real estate "bubble" if there was one was very isolated in a few areas.

[Square Root]

It's just a place to live. I figure I have more real estate than most but I don't fixate on the ups and downs of the RE market, Ignore this stuff and enjoy your property!

[Belguy]

Work around the homestead that used to be enjoyable is fast becoming drudgery the older that I get. A retirement home is starting to look more attractive with each passing year. Enough with the leaf raking, snow shoveling, weeding and maintenance jobs already!!

[blin10]

buy a snow blower, boggles my mind when I see million dollar houses and everyone using shovels

Work around the homestead that used to be enjoyable is fast becoming drudgery the older that I get. A retirement home is starting to look more attractive with each passing year. Enough with the leaf raking, snow shoveling, weeding and maintenance jobs already!!

[chaudi]

Don't worry ever minute in China and India there is another millionaire created and every day another one want to come to Canada. It won't stop why would it? They'll just let in more people in.

[NotMe]

For the first signs of the end of the real estate bubble in Canada, cast your eyes westward:

http://www.greaterfool.ca/2012/08/23...medium=twitter

Wait what? Garth Turner said real estate has peaked? Let's go sell today, Garth called it in 2012 (and 2011, and 2010, and 2009, and 2008, and 2007 and 2006 and ....)