Houses Built on Sand: The Coming Crisis in Real Estate


Houses Built on Sand: The Coming Crisis in Real Estate

When the bubble bursts, there will be no shortage of politicians to blame

The Great Canadian Real Estate Bubble may be about to burst. When it does, the results won’t be pretty.

But it’s not as if we didn’t know it was coming. For years, this bubble has been carefully nurtured by governments desperate for economic growth, realtors who will do anything for a sale and financial institutions happy to plow billions into housing, knowing Ottawa would always backstop their losses.

And as more and more people, particularly in Vancouver and Toronto, find themselves shut out of the housing market, those who had the good fortune to get in early sit in self-satisfied silence, content in the knowledge that their modest bungalows have turned them into millionaires — on paper, at least.

Of course, no government agency is going to call this situation a “bubble”, with all its connotations of folly and irrational exuberance — but you may have noticed an increasing note of alarm in recent official dispatches on the state of Canada’s housing market.

The Canada Mortgage and Housing Corp. (CMHC) reported this week growing signs of “problematic conditions” in the housing market, particularly in Vancouver and Toronto, where there is “a combination of price acceleration and over-valuation.” An overheated price climate was a problem in nine cities; over-building was a problem in seven.

More here…


3 Responses to “Houses Built on Sand: The Coming Crisis in Real Estate”
  1. lvent says:

    I was told there’s lots of DAVE CLARK’S & he’s probably not there no more.

    Then there’s the sales rep PATRICIA PICARD from CHICAGO TITLE & TRUST who I never met but portends to have been there during their fabrication.

    They’re hiding stuff that’s criminal & that’s domestic terrorism by WALL STREET who stole my social # 341-66-6698 by identity theft which is SECURITIES FRAUD by every entity there is.

  2. lvent says:

    The biggest thief is the BANK VP who knew how to manipulate how they issue fraud so it looked like there was business being transacted but there wasn’t.

    That’s why they sign off on their CREDIT CHARGE OFF & hand it off to the collection department to hide they never had the receipt in the first place.

    For example DAVE CLARK VP of FIRST MIDWEST BANK did that without recourse but they purportly filed the FC so they’re not only hiding something that’s BANK FRAUD.

  3. lvent says:

    You would think they were built on oil the way they’re trying to steal our property.

    Their feudalism over our TITLES is hiding lots more than market overvaluation it’s hiding market overreach that has no value in money or equity therefore they’re covering up crime scenes by fraudulent concealment of TITLE FRAUD.

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