Link
http://money.cnn.com/2005/12/05/real_estate/buying_selling/forget_this_housing_market/index.htm?cnn=yes
More and more Americans are moving to get away from overheated housing markets
Location: British Columbia
Posted on: 06-12-05 13:58:03
Quote:
Orginally posted by desi in ottawa
Link
http://money.cnn.com/2005/12/05/real_estate/buying_selling/forget_this_housing_market/index.htm?cnn=yes
More and more Americans are moving to get away from overheated housing markets
Interesting.
Would this work in Canada? Would you (or do you think anyone) move to the prairies (for ex) where houses *are* comparatively cheaper but min. wage is lower and jobs are fewer? In addition, the weather is more severe.
I think the US economy is very different than what would work here. What do you think?
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~ Morning rain
In reply to your article (more and more people are moving to get away from overheated housing markets in the USA), I will say that such a situation has not arrived here in Canada at this moment and this might not happen in the near future, as long as the home prices remain in control.
With the another interest rate increase on Dec 6, 2005, the home prices should remain in control. The central bank also signalled that more rate increases will be needed to rein in inflation as the economy grows.
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