1. “Anyone else catch The House on CBC radio this morning [14 Jun 2012]? Tsur Somerville [UBC Sauder School Of Business RE economist] and Patti Croft [Bay Street analyst], mostly falling over one another with the usual “not-a-bubble”, but with some pretty bearish sentiment lurking beneath the conciliatory tones (considering the sources):
- Nationally speaking, they see a 10-15% overvaluation.
- They openly admit that this national number is mostly be driven by Vancouver and Toronto, implying enough overvaluation there to significantly sway national numbers.
- Patti recommends cashing out and is thinking about it herself.
- Tsur seems to have given up on recommending metrics and now suggests “if you like it, buy it”.
- Even though there’s no bubble, Canada will earn a feather in its cap by successfully engineering a soft landing.
Also, apparently you now need 50% overvaluation to have a national bubble.”
- Many Franks at VCI 14 Jul 2012 11:28am
2. The CBC financial roundtable discussion on The National [CBC TV] last night focussed heavily on debt. The same four folks appeared that were there last time. Patricia Croft kept insisting Canada would be the *only* country to engineer a soft landing in real estate. She said it twice.
- Dr. Nick Riveria, VCI, 25 Jul 2012 10:22pm
so..we can engineer a soft landing for something that doesn’t exist ?
Riiiiight.
Haha indeedily doodily
Perhaps, as pundits who could end up looking like they missed the bear in the kitchen at midnight, they’re trying to engineer a soft landing for themselves?
If we cleaned up our act a bit, we’d probably be invited to more DinnerParTays…
Reminds me of my teenage years, showing up after school with my buddies…
There’s really no signs of a crash yet. It could be a slow melt over the next few years.
Is tsur tenured?
Probably. He’s an associate professor. That rank is usually tenured. Generally:
Assistant = early-career, not yet tenured, harried and nervous.
Acssociate = mid-career, attained tenure, productive.
Full = later-career, tenured, sometimes deadwood, tweed jackets.
“Soft landings” can be engineered, folks. East as pie. Someone please tell the Americans.
It took us 6 years to get where we are and still enjoying that pillowy soft landing to whatever bottom is fated.
Pillowy soft? You mean like a nice cushion for a bubble? You have not seen anything like this medical solution to a bubble on your arse….viewer discretion….but it is hilarious!!!
http://videos.wisegeek.com/videos/517254923.htm