Friday, January 7, 2011
Saskatoon detached bungalow prices 1981- 2010 ( nominal prices)
House prices are expected to go up this year, with Saskatoon gaining over 6%, but CREA has just indirectly admitted to the housing bubble. They are saying with any change to mortgage rules would be detrimental to first time buyers, and the economy. I say if the housing market was sustainable, there would be no problem moving regulations back to where there were 4 years ago, but I know that the market is not sustainable. Every city in this country has a chart that looks like that, so did hundreds of cities around the world, but prices are free falling now. Prick the bubble now or let it get bigger, its the Government's move now.