31.12.2010 - Now get ready for a 90pct collapse in Canadian real estate
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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