QUOTE (Smitty @ May 27 2009, 05:11 PM) Rachel (the author of the report) was interviewed on BNN today.
Here is a link to some info on the RGE website, but it appears the actualy newsletter is subscription based:
http://www.rgemonitor.com/latam-monitor/25...f_stabilization
Here is a link to her interview on BNN:
http://watch.bnn.ca/clip176982#clip176982
Mike
Her arguement
-She is expecting a price drop of 10-15% overall in Canada because of massive drops in Western Canada and lower drops in Eastern Canada
-She is expecting consumer demand to fall further plunging commercial real estate lower (because of job losses)
-She is stating that the Canadian housing market lags US by a few years
-The availability of credit will drag not only business but households down
-New homes construction were outpacing household growth in Canada
-Prices were rising so quickly that affordability was eroded
-housing prices should follow inflation
-the only reason why we are seeing an uptake is because of mortgage rates
My mind is tired thinking about this. I can blast so much actual facts to poke holes at all of these (except for the availability of credit...I don`t know where this is tracked.....if you find something please send it my way)
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