Most Are Still Bullish About the Canadian Real Estate Market
The housing bubble bursters are back. Ok, they never actually left but reality tends to drown out their doom and gloom philosophies, at least most of the time. This latest bubble alert hails from media outlets and economists in Toronto who apparently have a severe case of tunnel vision.
News flash: Canada exits beyond Highway 427 and the Don Valley Parkway. Toronto and its west coast counterpart Vancouver do have expensive home prices. But look beyond these two mega cities and you’ll find growing markets across the country. Remember Alberta, where energy is king and where that energy is fueling a large portion of the Canadian economy? The housing marking is doing swimmingly in that province.
Stefane Marion is a highly respected economist at the National Bank’s Montreal office. He made the list of top 20 forecasters put out by Bloomberg Markets’ magazine, a prestigious U.S. publication. Marion is the only Canadian to make that list. And he thinks the doomers...