Will Canadian real estate market crash?

[lookingforjob]

I think that the Canadian real estate market is headed for a severe crash, which will bring the average home price in Canada down 30-50%. What do you think? Please share your opinion here and don't forget to vote.

[Administrator]

I do expect some problems with the real estate market in Canada, but I don't think prices will be 20-50% down. I see it more like 10-15% down from where we are right now. Don't forget that Alberta's real estate market is very hot.

[Paul]

I don't expect the market to crash, not in Toronto. In some provinces maybe, but not here. The demand is huge here. Look how many new immigrants are coming every year.

[lana]

Interesting discussion you have here. For 6 years now I have friends saying that the market will crash... But look, it's not crashing.
Everybody is an expert these days, some people even predict the crash of the crashes but life goes on you know…. ;)

[metoo]

I really think it will crash hard. These price levels are simply unsustainable. Families with $50K yearly income before taxes buy houses for $350K with 5% down. You have to be really out of touch with reality to believe this will last.

[contractor]

I am not an expert in real estate but this is interesting discussion and I’d like to join in.
I expect a mild crash within a couple of years. Canadian market is very US dependent.
I've watched on TV somebody said that the economy is not in decline and will continue to grow but slower; it’s not going in recession according to some annalists but I don't believe it.

[Agent_J]

I expect a soft landing in the overall Canadian real estate market. However, household incomes will not keep pace with higher mortgage rates and rising utilities costs, so housing affordability will still fall despite weakening price gains.

[amal]

I watched on TV that the major slump in US real estate market is over. If this is true I think the market will remain flat for a couple of years...

[RSTech]

I don't think there will be a crash. I haven't seen anything significant enough to make me think there will be a crash. Yes some industries aren't doing well such as automotive which affect the economy but others like minerals and natural resources are very strong.

Does anyone know what Canada's poplulation growth has been like lately? Is it drastically different than the past 5 years?

[bongi]

I did a quick search and I found the estimated population as of today is: 32,742,292

[Phil]

I think that the Canadian real estate market is headed for a severe crash, which will bring the average home price in Canada down 30-50%. What do you think? Please share your opinion here and don't forget to vote.

About 79 million baby boomers are turning 60 this year and the thought is they will start withdrawing their hard earned money from the market around 2012. However, I believe that the withdrawing has already begun ahead of schedule as a means of staying ahead of the housing market boom. The “boom” may very well have been an artifact of this final big purchase.

The question is not of whether or not a crash will occur – it’s when. Personally, I believe the severity will be one which will plunge us into another depression. This is based on the number crunching by economists.

A lot has been written about this next “depression” and the media has not addressed it at all. I think it’s because they don’t want a panic on their hands – or the producers don’t want to see markets crash….really I don’t know why? I urge you to do research about this on your own.

I really hope for the best and wish I’m wrong.

Phil

[lookingforjob]

About 79 million baby boomers are turning 60 this year and the thought is they will start withdrawing their hard earned money from the market around 2012. However, I believe that the withdrawing has already begun ahead of schedule as a means of staying ahead of the housing market boom. The “boom” may very well have been an artifact of this final big purchase.

The question is not of whether or not a crash will occur – it’s when. Personally, I believe the severity will be one which will plunge us into another depression. This is based on the number crunching by economists.

A lot has been written about this next “depression” and the media has not addressed it at all. I think it’s because they don’t want a panic on their hands – or the producers don’t want to see markets crash….really I don’t know why? I urge you to do research about this on your own.

I really hope for the best and wish I’m wrong.

Phil


Very well put!
Just look at the stock markets and you'll get an idea how bad thing really are. I still have friends hoping that stock markets will recover and real estate will go up forever. Well they are in for a big surprise :).

[Sean]

I think that the Canadian real estate market is headed for a severe crash, which will bring the average home price in Canada down 30-50%. What do you think? Please share your opinion here and don't forget to vote.

The Market has allready crashed and is presently in it's death throws! The real estate agents and exec's havn't quite excepted it yet!

[Sean]

the real estate market has allready and still is "Crashed!" it's just the real estate sector (agent's, exc's and investors) that won't accept the obviouse quite yet! I suppose when they get hungrey they will scream for support and admit there are seriouse problems. Realtors quote a stagnant market or "a leveling off" when in reality they mean "tons of sellers" but sadly no one is buying! and "YES" there are lots of great deals out there; and it has been a "colorful market" for over 6 months now, but still no buyers! MLS reported 300% increase in product availability, that was in Oct. of last year!

[winoomgmg]

When in history this market crash 50% down ?