Buying at irrational levels on the belief that prices can only go up is the definition of speculation, not investing, and financial pain in speculation are the norm not the exception. There are familiar themes in this story for Canada today, as well as the 2006-2012 US and Ireland housing busts.
For years now the real estate discussion has been all about rising house prices in Sydney and Melbourne and how hard it is to buy a house or find an affordable rental. But not any more. Here is a direct video link.
Housing and banking expert Martin North North has criticised developers and the housing industry for “throwing up” high-rise buildings at such alarmingly fast rates. He warned viewers that significant defects and safety concerns are imminent. Here is a direct video link.
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