Vancouver RE Discussed On CBC, Again – “Patti Croft recommends cashing out and is thinking about it herself”; “Patricia Croft kept insisting Canada would be the *only* country to engineer a soft landing in real estate.”

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

12 responses to “Vancouver RE Discussed On CBC, Again – “Patti Croft recommends cashing out and is thinking about it herself”; “Patricia Croft kept insisting Canada would be the *only* country to engineer a soft landing in real estate.”

  1. so..we can engineer a soft landing for something that doesn’t exist ?
    Riiiiight.

  2. Froogle Scott

    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?

  3. There’s really no signs of a crash yet. It could be a slow melt over the next few years.

  4. 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.

  5. “Soft landings” can be engineered, folks. East as pie. Someone please tell the Americans.

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