02.04.2013 - Canada: Housing bears need to relax and take the long view
Back in 2009 and 2010, I was quite worried about Canadian house prices sliding down a slippery slope. But the more I looked into the specifics of the Canadian situation, the more it appeared I had a case of “recency bias.” I believe the same can be said of the housing bears who are still voicing their worries. The collapse in U.S. house prices was traumatic and it gets a lot of weight when people reflect on the Canadian market. Too much, it would seem: busts of such magnitude are exceedingly rare historically, especially in reflationary environments where printing presses are going into overdrive...............................................Full Article: Source
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