A collapsing Canadian real estate market with Garth Turner and Rob Carrick

Garth Turner, financial journalist, and Rob Carrick discuss a collapsing Canadian real estate market.
* What are the indicators that there will be a housing market crash?
* How bad with the real estate market crash be?
* How much could house prices go down?
* How long would it take for the housing market recover?

The Investor Education Fund is pleased to be cosponsoring this video series with the Globe and Mail called "Lets Talk Investing." The series is hosted by renowned Globe and Mail columnist Rob Carrick and features prominent Canadian financial experts discussing topics that are relevant to investors.

http://www.getsmarteraboutmoney.ca/managing-your-money/investing/real-estate/...

Category:

Education

Tags:

• Garth Turner
• net worth
• real estate
• asset
• buying a home
• housing market
• crash
• educational
• interviews
• investing
• house
• home
• buy
• rent
• sell

[taineasy]

Canada is exactly where the US was in 2007. This bubble is about to burst and it will be very ugly. This reminds me of 1988 when everyone thought housing would go to the moon. Within a 2 years it had been wiped out. Housing did not come back to 1987/88 levels until 1999/2000.

[Klothex]

Unless you bought your home before 2005, you are going to see a correction in housing prices that will make you very, very angry, things are about to tumble in a HUGE way. If you think real estate is stable here in Canada...you are only fooling yourself. Housing needs to become affordable again, bring on the crash!!

[MrStealth22a]

Garth Turner was right then, and is right in 2012. Look at record housing prices in Canada and look at record Canadian household debt. I read more articles in Canadian Business and in Maclean's magazine..of course, BMO, RBC CIBC, Scotia and TD all tell a contrary version of the actual facts..they just want to make money and lead the masses down a dangerous path.

Credit card companies are no different, don't worry, be happy and spend spend spend!

[MrStealth22a]

Fast forward to now..February 2012..Kelowna has seen record foreclosures, sales have dropped

in the capital region of Victoria BC as well as Vancouver Westside and Richmond, BC.

Just read about this in Canadian Business and the latest Macleans Magazine: " You're About to Get Burned"-published March 5th, 2012 edition. On the front cover,

it states that and this is directly quoted from Maclean's: "Canada looks exactly like the U.S. before its devastating housing crash-mabye even worse"..

[2551bali]

@Aaaaarrrrrrggghhh ..... DEEP pockets with money from "hot sources" -

fuels the major cities market and they are "patient" , can wait 5-10 yrs

because prices will bounce back regardless of the severity of the "FALL".

there's NO recession in those overseas "hot sources" !!

[juzu4me]

@taineasy Well then what an uneducated pissant you are. My house is worth 25% more than it was a year ago. These idiots just wanted to be on youtube. Canada is strong, our market is booming

[MyOwnYTAccount]

@aliforghani1353 Nothing has happened because the politicians are just kicking the can down the road meaning WHEN it happens, it will be much, MUCH worse. The Bank of Canada basically takes it's marching orders from the US Federal Reserve. If the Fed keeps interest rates at zero for 3 years, the BOC will do the same. That tap gets turned off (which it will) - Canadian real estate prices will fall through the floor.

[MyOwnYTAccount]

@Meathead36 I agree.

[aliforghani1353]

We have been hearing these bullshit for few years now but nothing has happened.. There might be some adjustments but nothing close to what seen in US...I think these talks are all political; not sure how they benefit from it but they do..

[snatchhog]

land and houses are over-valued and will be worthless very soon.

[Meathead36]

patience people, we've got a global finincial collapse coming, housing will drop big in canada