Didn't we just watch this movie?

[solarbird]

Canada's housing market about to implode

C'mon, guys, didn't we just do this? Do we have to do this again already?

Comments

[oh6]

People've been predicting trouble for quite a while. I'm not sure I would take Maclean's word for anything, but the rhetoric they mention reminds me of Iceland, which is pretty sad.

[cow]

I wouldn't take their word/analysis on anything, but the pile of statistics they quote is definitely worrisome.

(Also, so far, the opposing reactions I've seen up here to this story have basically been "NO NOT TRUE LA LA LA," which . . also reminds me of the US in 2007. I would feel a whole lot better if someone wanted to explain why the statistics don't mean what they seem to mean.)

[cow]

I, personally, find this even more offensive than the US's situation. Why? Because we had plenty of warning from our neighbours to the south, but ignored it and blithely went on our merry way.

(Also because almost none of the methods for inflating the bubble so big were possible pre-2006. Seriously, that's when we got 0-5% down mortgages and 35-40-year amortizations. *cry*)