Is this MSM spin, saying the boom is over, or are they actually calling for a popping bubble?
Canada's six-year housing market boom is officially over. Aside from a
few choice prairie locales, sales are melting faster than this year's
snowpack,” Douglas Porter, deputy chief economist at BMO Nesbitt Burns,
said in a research note.
This quote appears in a story published April 17, 2008 in the Globe and Mail Report on Business, titled "Housing Sales Tumble Across Canada". Saying a boom is over and that price growth is going to moderate or flatline is not the same as saying price drops are in the offing? Which is it?
In this article, there is some surprisingly frank and negative commentary about what is in the offing. On the other hand, TD Bank extrapolates that
....Lower short-term rates, combined with low unemployment and rising
personal incomes, should reduce the risk of a boom-bust housing cycle
this time around.....
Right after Garth Turner turned up all over the place announcing "the troubled future of real estate".
Who knows?
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