Is CMHC Financing a House of Cards? - G&M Article
Is there a bubble in real estate? Canadians have been arguing about this for years. We’ll keep arguing, because asset bubbles are hard to identify until they’ve deflated, and this one hasn’t. Besides, it depends on which of Canada’s many real estate markets you’re looking at. In Saint John, New Brunswick, where a detached home can be had for a monthly payment of $750, or Calgary, where prices have levelled off and the typical house sits on the market for six weeks, there’s no sign of trouble. But if you’re in Vancouver and must sign up for 25 years of financial servitude for the privilege of owning a small glass box in the sky, prices look very dangerous indeed.
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