Careful what you wish for!

Read the latest report from the BCREA:  The Economic Fallout of Housing Price Shocks.

Let’s not forget how so many people have used their home-line credit plans from their banks to spend on trips, new cars etc. etc.

I remember well the early 80’s, when the market slumped and the “experiment” as I understand it now was with interest rates.  I remember young families losing their homes and being on the hook with the banks for the negative balance they had when they were foreclosed on.

Yes, be careful what we wish for.

We are now in a global economy and our prices with our low Canadian dollar are very low  in comparison to other major centres.