What soars up tends to crash down. Welcome to ‘free’ money driven asset moves.
Watch Five Signs Canada Has Real Estate Mania
What about all those supply shortages the realtors were talking about? Nothing like insanely high prices to bring supply on stream. In July Toronto new listings rose 5.1% and active listings were up 65% from a year earlier. See Toronto home prices suffer worst monthly decline in 17 years:
Home prices in Canada’s largest city posted their biggest monthly drop in at least 17 years in July and sales plunged as government efforts to cool the market and the near-collapse of a mortgage lender made buyers leery.
This post was published at FinancialSense on 08/03/2017.
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