Canada's Economic Conditions "Perfect"

[Economy 53,156]

Very interesting, I wish the US had done some of these things to reign it in.

I did hear that Toronto is still very high so I wonder about local bubbles.

US housing is still recovering but has felt stagnant lately. A bright spot, I believe the foreclosures remain on people's credit records for 7 years so we may see a wave of buyers re-enter the market this year and next as those begin to fall off.

US prices are now about their long term average in relation to income. construction still needs to be improve a bit down there tho cause its still below population growth

 

As for Local Bubbles you are correct. Toronto, Vancouver, Calgary and Edmonton are the cities that are estimated to be most over valued.

 

A special concern goes to Toronto's condo market cause theyve been making tones of skyscrappers. Even now if you go to Toronto you see cranes everywhere. They worry about whether or not all those units will be filled or not.

 

The Country as a whole has a moderating market tho. The Government was afraid wed have the same fate as the US so they started taking measures to cool the market

 

Also again, we are lucky weve started a correction while rates are still low. In The US the correction began after rates started rising already so your correction was a more sudden crash.