I made a mistake ..... hope you read the links.

Tuesday Dec 12th, 2017


Everyone wants to know if housing prices will rise or fall in 2018.

In July 2015, David Madani, Senior Economist with Capital Economics predicted that Canadian house prices would decline by 30%

In June 2017, Mr. Madani says that Canadian house prices will drop by 40% over the next 5 years.

Wonder what he is going to say next year?

If we really drill down and search(surf?) the internet I am sure we can find some expert somewhere with an opposing view.

"I'm a happy renter. It's less expensive, but I am also saving and investing in other things." - David Madani 

My mistake? I forecasted to a few of my friends inside the real estate industry that house prices would crash in 2008-09. They told me I was wrong, that just because the U.S. housing market went in the tank, Canada has very strict lending rules and the Canadian chartered banks aren't allowed to play fast and lose with their stakeholders money. They were right.  I am glad I was wrong as I believe that real estate is, over the long run a great investment. 

"Forecasts may tell you a great deal about the forcaster; they tell nothing about the future." - Warren Buffett

Next post will be about the rental market.

Thank you for reading.




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