Thursday, August 03, 2006

We Are Not The USA. But We Are Continually Running About The Elephants Feet, So Will We Get Crushed?

We are not the USA. But we are continually running about the elephants feet, so will we get crushed?

The housing market in the states is about to go POP. Hopefully that does not mean that Canada has to experience the same economic crisis. For too many home owners in the US, who capitalized on the low interest rates many many moons ago, the 17 straight rate hikes by the fed will force them to put their homes up for sale, as they cannot cover the mortgage at 7%.

Does this mean that Canada's real estate bubble will burst? Only time will tell, but with Western Canada booming perhaps real estate will only let out some air, and not burst.

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