Last year prices rose 13%, its reaching all-time new record highs now, meanwhile America's home prices are down quite a lot. So when will Canadian prices stop rising to the moon?When will the bubble in real estate finally 'pop'? (I'm talking about Canadian real estate, its still rising)?
It's unlikely to burst as such but will mellow out during your 7 year cycle.
In Australia, we did not even feel the GFC, our house prices continue to rise also.
Sydney (where I live is) the or one of the most expensive places in the world to live because of our house prices. While it's a good thing for house owners, it's difficult for people who have enjoyed their younger lives and want to get into the housing market
Once upon a time we looked up to America for their dollar and their housing and now our dollar is the benchmark (although buying online from the States is absolutely fabulous - we get twice as much as if we bought back home), the world really is changing. It's frightening and wonderful too
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