Vancouver Real Estate 'Bubble' at 30-year Peak

[whatnext]

Hmm, have they called it right, or just more chicken little reporting?

Steep housing price increases in six of Canada's hottest real estate markets since 2002 have all the hallmarks of an "accident waiting to happen" if mortgage rates rise too sharply, warns a new report.


The report by the Centre for Policy Alternatives says smart mortgage rate setting is needed to prevent the bubbles hanging over the housing markets in Vancouver, Edmonton, Calgary, Toronto, Ottawa and Montreal from bursting...

...Macdonald says a housing bubble burst has been a rare phenomenon in Canada. Since 1980, it has only happened three times — in Vancouver in 1981 and 1994 and in Toronto in 1989....

Read more: http://www.vancouversun.com/business...#ixzz0yCqFn7J8