Overpriced and Overbuilt: Canadian Housing Market Returns to Fundamentals: TD
Posted on
April 25, 2009
by
Norm Fisher, Royal LePage Vidorra
Released yesterday by TD Economics, this report on Canadian housing.
Looking back on the boom in Canadian home building from 2002 to 2008, it is now clear that unsustainable price increases drove unsustainable levels of building. This overbuilding will weigh on markets over at least the next three years. Even as Canada recovers from the cyclical downtown, house prices will only rebound sluggishly and new residential construction will remain depressed, owing to this structural weakness. While newly built houses were being rapidly purchased by new homeowners during the housing boom, our view is that house prices exceeded the value of housing that was justified by fundamentals by approximately 9% nationwide during 2004-2008…particularly on the Canadian prairies.
Overpriced and Overbuilt: Canadian Housing Market Returns to Fundamentals: TD
Thank you to Crikey for the heads up.
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.
Follow our daily updates on Twitter @Norm_Fisher.
Norm Fisher
Royal LePage Vidorra
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in
accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification.
The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA).
Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
$(document).ready(function () {
var allBoxes = $("#mrp-container10 div.weblet_web-syndication").children("div");
transitionBox(null, allBoxes.first());
});
function transitionBox(from, to) {
function next() {
var nextTo;
if (to.is(":last-child")) {
nextTo = to.closest("#mrp-container10 .weblet_web-syndication").children("div").first();
} else {
nextTo = to.next();
}
to.fadeIn(500, function () {
setTimeout(function () {
transitionBox(to, nextTo);
}, 7000);
});
}
if (from) {
from.fadeOut(500, next);
} else {
next();
}
}
-250-wide.jpg "Norm Fisher, TeamFisher")
