It sounds like this headline is showing up all across Canada. Variations of this headline have been triggered by a new report from the Canadian Centre for Policy Alternatives. In the report they talk about six major centers (two in Alberta!) that are in a precarious position. (links to the reports are at the bottom of the article!)
I was writing an article about this for my weekly Real Estate column at the Chestermere Anchor when I found the following video from Peter Kinch. Peter is one of the top ranked mortgage brokers in Canada, and in the video he presents his view on the subject.
Also of note, he brings up the other report that just came out from the C.D Howe institute report that says there is a low risk of a US style housing burst. Basically the exact opposite of the other report. Also strangely enough, the C.D. Howe report didn’t make much news in the headlines! Anyway here is the video and I will probably have my post about this up some time tomorrow.
**Give the player a couple of seconds to start after you click the arrow!**
Oh, one more quick note, the next Bank of Canada rate announcement is due out on September 8th, if you are keeping track!
Links to the Reports:
C.D. Howe : Not Here? Housing Market Policy and the Rick of a Housing Bust
Canadian Centre for Policy Alternative: Canada’s Housing Bubble, An Accident Waiting to Happen
