After a short break, our weekly real estate roundup is back.
On Canada's Housing Bubble
The latest Globe and Mail column from University of Western business school professor George Athanassakos expands on an article he wrote last year forecasting a crash in Canada's housing market. Athanassakos makes some good arguments but I can't say I agree with is conclusion that there's an oversupply of houses, at least not in Toronto.
In economics, it all comes down to demand vs. supply. Canada has a significant excess supply of housing that sooner or later will have to be reflected in lower prices.
While one could argue that the condo segement in Toronto may be oversupplied, we can't say the same thing for freehold houses. The lack of houses available for sale is precisely what is driving up house values.
Canada's housing bubble: This time is not different (Globe and Mail)
How does school quality impact house values?
Realosophy's Schools for Home Buyers workshop this Saturday February 25th is sold out but you can sign up for our next workshop on Saturday March 3rd.
Other Real Estate News
Toronto home buyers may be baffled, but builders are bullish (Globe and Mail)
Canada housing prices won’t crash: poll (Financial Post)
Peter Aceto on Debt, BMO & Bubbles (Canadian Mortgage Trends)
Mortgage fraud up 150 per cent in the last year (Toronto Star)