I rarely do this, in fact, I never write a second post during the day unless there is a modification in the interest rate. But today, I just read an article about the Canadian housing market and I was thinking of all your reaction towards my article on the (possible) Canadian Housing Market Bubble.
According to the CREA (Canadian Real Estate Association), housing sales went up in August by 4.1%. Interesting enough, the activity in both Ontario and British Columbia (2 hot Canadian Housing market) was in good shape.
So housing prices are slightly going up and sales are following the same trend. Interesting enough in a market where we forecast interest rate hikes, isn’t?
I don’t think we will see the Canadian housing market going up like crazy but I think that reaching a balance between sellers and buyers is more likely to happen. Looking forward to the end of 2010, I think the housing market will continue to cool off slightly and smoothly avoiding the abyss of a bubble burst.
What is your take on those new housing stats?
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