It's a cycle - so what's new? If I keep crying horse that housing demand will surge in 2 years and then plummet in the third year then it could possibly bound to happen. Doesn't really take a 'Financial Nostradamus' to tell us.

There's nothing new you've been professing all along. It's called cycle - doesn't matter even if you take it as a layman term.

'Toofaan aayega, toofaan aayega, toofaan aayega kartey raho - kabhi to aayega hi'. Do I need an astrologer to tell me this?

It will not impact lot of people who bought long time back and not having 80% asset in RE or living paycheck to paycheck with debt.

If Weatherman tells everyone"Do not worry, this is intensity 2 toofaan and going to stay for short period of time". But it attacked with intensity 5 and staying longer when people are not ready then is called Katrina 2005.

Tim Geithner said "USA have strong $ policy". CAD$ already crossed USD. There is deflation in RE and high price item and no demand. But big inflation in sugar, corn, gas, wheat, soy and daily stuff. People who are in super debt and holding 80%-90% in one asset bought at peak of bubble called RE are going to hit and that is called future - AZ,FL,CA,GA,NV Real Estate market.

Debt economy is very bad mistress and does not differentiate color, countries and race.
http://www.youtube.com/watch?v=XK4dxacv7jY&feature=player_embedded
Now CREA is giving the so called news"Alberta house prices, sales to drop next year".
http://www.calgaryherald.com/business/real-estate/Alberta+house+prices+sales+drop+next+year/3783676/story.html

Quote:

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Originally posted by febpreet
It's a cycle - so what's new?
'Toofaan aayega, toofaan aayega, toofaan aayega kartey raho - kabhi to aayega hi'. Do I need an astrologer to tell me this?

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Canadian mortgage debt tops $1-trillion for first time

The Canadian residential mortgage market crossed the $1-trillion threshold for the first time this year as higher prices forced many to borrow heavily to finance their new homes and low interest rates encouraged many more to refinance.

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/canadian-mortgage-debt-tops-1-trillion-for-first-time/article1789172/

Did anyone attend Garth seminar at DoubleTree Hilton Hotel? It seems big crowd there.

NYC-
Condos go a-crashin'
Apthorp apt. listed at $2M sells for 200G
http://www.nypost.com/p/news/local/manhattan/condos_go_crashin_eoiAL405ymRP6hI1ePQLNL