“The average Joe I discuss real estate with just can’t get their mind past the “everyone wants to live here” depth of analysis.”

Beaker at RE Talks 7 Jan 2010 10:52am & 11:40am“When the credit contraction eventually hits Canada, as it inevitably will, most will be “shocked and surprised” at the affect it will have on housing. Of course the experts will be out in force in the MSM talking about how no one could have predicted this type of decline. People don’t seem to understand that during a credit contraction, prices for houses will be falling despite the fact that there is an equal supply of people who still “want” to live in Vancouver (i.e. demand for local housing stock).” … “The average Joe I discuss real estate with just can’t get their mind past the “everyone wants to live here” depth of analysis.”

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