Canadian housing prices will fall 10% over the next several years and homebuilding will slow sharply in 2013, but the country’s recent property boom is not expected to end in a U.S.-style collapse, according to a Reuters poll. The survey of 20 forecasters published on Friday showed the majority believe the Canadian government has done enough to rein in runaway prices, preventing the type of crash that has devastated the U.S. market for years. “This isn’t a sharp correction, this isn’t a U.S.-style correction, it’s just simply an unwinding of the excess valuation that was created by artificially low interest...
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Yes, just like the US is different from Japan, Canada is different from US, California is different from the rest of the country, Bay Area is different from LA, Palo Alto is different from the Bay Area. You see, wherever you go, everyone is special, over there.
didn't they get a warning 5 years ago
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