Canada’s Housing Bubble Pops… And The “5-Year Time Bomb” Is Just Ticking
Not our neighbor’s housing market
Goldman has a report out looking at the price decline in the Canadian housing market. They show that the price decline can be attributed to some unique features of the Canadian housing market, extreme levels of unaffordability, growing supply of housing units and variable/rising cost of homeownership and that a home price decline is likely necessary for the long-term stability of the housing market.