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Canada: Housing bubble is really a balloon

Posted on 31 January 2012

Sherry CooperIt’s not a bubble, it’s a balloon. Unlike the catastrophic decline the U.S. housing market experienced in 2008, Canada’s housing market is expected to deflate slowly rather than pop, according to BMO Capital Markets chief economist Sherry Cooper.
Cooper’s report says that despite rising household debt, low interest rates and rising home prices, it is unlikely that a sudden correction will take place. “The main take-away is that the national housing market appears somewhat pricey, but is far removed from bubble territory,” Cooper said in the report, titled Will Canada’s Housing Boom Forge On, Fizzle Out, or Flame Out?……………………………………….Full Article: Source


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