Categorized | Housing Bubble

8 Top Economic Reasons For a Housing Correction in Canada

  1. Canadian are at unprecedented levels of debt – 150% over average income
  2. The Key Interest Rates are at artificially low levels –1%
  3. The price of housing is at 4.5 Times average income (11x in Vancouver), higher than the historical average mean of two to there.
  4. Federal and Provincial authorities are providing very low standards for credit application – CMHC 5% down payment
  5. Foreign Speculation into the housing market is at all time high –mainly from Asia
  6. Market sentiment are at very high levels
  7. Construction and Real-Estate industry accounts for approximately 30% of GDP
  8. Real –Estate rental and leasing jobs reached a peak in 2008 and has been declining ever since.

 

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  • http://www.propagandatheory.com Cynthia

    Good Post!

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