Cheaprealty.net

Global overvaluation of real estate is a bubble of epic proportions. Which begs the question, what's next?

Charles Hugh Smith wrote an interesting article recently in which he noted that even as US stock markets climb to new heights, insiders have been selling like crazy. This is called distribution, and you can read about it here, in a story titled The Moon's a Balloon - and about to Pop.

CMHC notes actual single family home urban housing starts are down around 14.5% in the first 4 months of 2007 versus the first 4 months of 2006. This is blamed on affordability and a skills shortage.

What is not explained is how there was enough skill last spring to start 14% more houses.

Looks like developers are keeping an eye on what is happening south of the border, and are trying to engineer the proverbial soft landing.

Check out the new links, take out a bunch of mortgages, buy some houses for sale by owner and then come visit me on my new yacht!

Okay, so there's no yacht yet....

Comments are welcome, if Charles reads this, yes, I know I am just trying to make it in the big scheme of things as a big shot, I still crave material possessions and achievements. Living in Victoria's property market has left me a little bit crazy, so I'll try any scheme to get me a house at this point.

I mean it! Okay, sorry about that Charles....