Quote:
Originally Posted by PAR
Not a bad thing for people living in Canada getting paid in USD.
As for a housing market correction.
I would not bet to much on it hitting Vancouver or Toronto hard.
As the dollar and price of oil drops, many will leave AB seeking work elsewhere so the demand for housing in places with less than a 2% vacancy rate may not become a reality. It may become one for areas with higher vacancy rates as the supply / demand pressure is not there to support the prices as the CND drops lower.
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i think you mistake leverage for demand. house prices are this high, not cause there's that much more demand. they are high because rates are low and people get qualified for insane mortgages with relatively low income. once economy turns for the worst, as it always does after a cycle ends, people will be squeezed and house prices will turn across the country.