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Now get ready for a 90pct collapse in Canadian real estate

Posted on 31 December 2010

From Businessinsider.com: One of the biggest dark clouds on the horizon is Canadian real estate, which is peaking after a tremendous rise (via Mish). Max Keiser holds an excellent interview with Nicole Foss on why the real estate bubble will bust and could take out 90% in value.
Foss says the crash was deferred due to a flood of petrodollars that turned desolate towns into hotspots, like in Ireland. Now people are paying over 50% of their income to mortgage costs. As prices stop rising, delinquencies will surge……………………………………….Full Article: Source

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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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