- from ‘The Economist’, 2-13 Feb 2012 [hat-tip 'anonymous guy']
Results: 65% ‘Yes’. 35% ‘No’
From the readers’ comments below the poll:
“There will be a correction in the larger markets (Toronto, Vancouver) to be sure, but unless interest rates spike (not likely), it will be a softer landing (maybe 5%-10% drop). After that, prices will probably stay flat for a while. Canadian lenders have been relatively more responsible than their American counterparts over the years, and so quality of mortgage loans are better.”
“I live in Vancouver, and I make a top-5% salary, and buying my very-nice-but-not-fancy current house in the suburbs at current prices would give me cold sweats at night.
I look around, and I cannot understand how any normal human being entering the market can afford a house. I ask real-estate agents how this can keep on going, and they tell me it’s all Asian money.
It just can’t continue. All we can hope for is a soft landing.”