“When we look at the Canadian housing market we realize how insane things have gotten. I’m amazed by how many of the debt rehab or home flipping shows have migrated to the Canadian market. Of course they rarely mention this thinking the American audience will mindlessly assume they are in some other US city to prime the consumption pump. Yet when we look at the metrics, Canada is poised for a deep and profound correction.”
– from ‘Canadian housing bubble goes into full mania mode – Canadian debt-to-personal income ratio near 145% while US at peak of the housing bubble was at 125%’, Doctor Housing Bubble, 5 Sep 2012
“Société Générale believes Canada still doesn’t have a handle on a frothy real estate market.”
– from ‘Housing bubble is not yet under control,’ SocGen warns Canada’, G&M, 5 Sep 2012
“Owning a home in Ontario – or anywhere in Canada, for that matter – is getting more difficult as affordability, particularly anything larger than a condo, deteriorates each year. …the steady increases are not sustainable. Eventually, this housing bubble will pop, and the economy will suffer.”
– from ‘Housing danger signs’, Simcoe.com, 5 Sep 2012
All three articles published today. -ed.