Why most Canadians should be begging for a housing market correction, not fearing one
Article by David Kaufman, July 11, 2014
“Most Canadians should be keenly aware of the incredible and gravity-defying increase in real-estate values in Canadian metropolitan areas over the past 20 years.
Homeowners in Vancouver and Toronto, in particular, have celebrated as their residences have increased in price by more than 100% in many neighbourhoods. This represents an enormous gain on the equity value they have in their houses, since many have taken advantage of low interest rates, high loan-to-value mortgages and seemingly infinite amortization periods.”
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