Comments on: Canadian housing hits the wall http://www.creditwritedowns.com/2008/07/canadian-housing-hits-wall.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2008/07/canadian-housing-hits-wall.html#comment-126 Edward Harrison Tue, 29 Jul 2008 09:58:00 +0000 http://www.creditwritedowns.com/2008/07/canadian-housing-hits-the-wall.html#comment-126 Thanks for you insight on the market. Only time will tell where Canada really is headed, but I would say that housing prices do need to come off in places like Vancouver. There has been too much price appreciation and too much building, especially in the Condo sector. One could see the new supply ramping up as far back as 2004.<br/><br/>Do we have to see US-style declines for things to move back into line? No. But, I certainly expect declines in both transactions and price vis-a-vis 2006 and 2005. Thanks for you insight on the market. Only time will tell where Canada really is headed, but I would say that housing prices do need to come off in places like Vancouver. There has been too much price appreciation and too much building, especially in the Condo sector. One could see the new supply ramping up as far back as 2004.

Do we have to see US-style declines for things to move back into line? No. But, I certainly expect declines in both transactions and price vis-a-vis 2006 and 2005.

]]> By: Vancouver real estate agent http://www.creditwritedowns.com/2008/07/canadian-housing-hits-wall.html#comment-124 Vancouver real estate agent Tue, 29 Jul 2008 09:49:00 +0000 http://www.creditwritedowns.com/2008/07/canadian-housing-hits-the-wall.html#comment-124 All the recent talk and numbers seem to me as if the economy is going down, but have a look at the numbers this year and 2006. They are the same, not good, but not bad either. It just seems that 2007 was an "exotic" year. I wouldn`t be so pessimistic just yet and hold the U.S. style crash talk. As an experienced <a HREF="http://jaybanks.ca" REL="nofollow">Vancouver realtor</a> I am careful at these times, but I don`t go all pessimistic either. We`ll just have to wait and see. A buyers market is still better than nothing.<br/>Jay All the recent talk and numbers seem to me as if the economy is going down, but have a look at the numbers this year and 2006. They are the same, not good, but not bad either. It just seems that 2007 was an “exotic” year. I wouldn`t be so pessimistic just yet and hold the U.S. style crash talk. As an experienced Vancouver realtor I am careful at these times, but I don`t go all pessimistic either. We`ll just have to wait and see. A buyers market is still better than nothing.
Jay

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