CBC’s “The Current” on the Canadian housing market

I did a segment last year with CBC’s Anna Maria Tremonti on the Canadian housing market. It turns out a lot of people listened to that show. I have received more feedback, questions and comments on that segment than probably any other interview I have ever done. Many people have asked if I had a copy of it. For anyone that is interested it has recently come to my attention that CBC has archived the show here on their website under
Pt 2: Housing Bubble.
  As I listen today, I would say that the thoughts and concerns expressed apply equally and possibly even more so now than in 2010 as Canadians have had another year of higher home prices and even more debt.

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3 Responses to CBC’s “The Current” on the Canadian housing market

  1. Robert says:

    Fantastic discussion. I find it interesting that Real Estate Brokers and Agents are just like the Buy and Hold investment analysts. I have watched the real estate market in my neighborhood which was always a hot part of city. For many years houses that went on the market sold at 98% or even above asking price and always sold in less than a week. Now houses remain unsold at the original asking price and are quietly taken off the market after initial listing time expires as the owners are not getting the offer price they want. I know personally other house owners who need to sell that dropped the price twice by a total of 10-15% and they still remain unsold even after 6 months on the market. Potential buyers still come for showings but are not putting in offers. The one exception is the high end luxury houses are still selling keeping the average selling price up. But the houses the average person can buy is not happening. Those that have mortages fear about job security and their debt level which they say is too high. I agree with what you were trying state that the rose colored glasses should come off to see we are in for a tough time, that if we face now we will be better in the long term. Big ticket items aren’t selling. Why would the car manufacturers extend their employee pricing offer if people were buying.

  2. paul says:

    Housing prices in desired areas of Vancouver remain high because of wealthy buyers from China. Do you think this trend will continue for the next 6 – 12 months?

  3. Anton Tucker says:

    Canada remains a bit of a mystery as far as real estate prices are concerned and the most plausible explanation is the ‘China syndrome’.
    The trend is however unlikely to continue as global problems persist and China’s growth slows.
    Canada’s overvalued real estate market (according to many including the Economist) will surely revert to the mean, beware new or over-levered investors.
    Renting is an attractive option (and good financial option – rent and invest the rest) that gets little respect in Canada.
    Anton Tucker

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