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Bubble News

The Most Splendid Housing Bubbles in Canada Deflate Further

In Greater Vancouver, BC, Canada, house prices fell 0.4% in April from March, the ninth month in a row of month-to-month declines, according to the Teranet-National Bank House Price Index. The index is down 4.7% from the peak in July 2018, the sharpest nine-month decline since July 2009. And it’s down 2.8% from April last year. One of the most splendid housing bubbles in the world is now deflating before our very eyes, after prices had skyrocketed 316% from January 2002 to the peak in July 2018 – meaning prices had more than quadrupled in 16 years:

DYI:  If the world and especially the U.S. without a massive downturn then Canadian real estate will slowly melt with lower and lower prices over the years taking the gas out of their bubble. Canadians will endure two decade price erosion that will bring prices back into line with incomes.

DYI