Now that December is over, will the real-estate bubble talk die down?

ASHBURN, VA

Change Location

Back to Conversations

MARCO DIFOTI

BabbleBee

476

Now that December is over, will the real-estate bubble talk die down?

December was filled with news stories on a real-estate bubble in Canada, mainly fuelled by non-sense American reports.

Now that it is January, and hopefully some real news to report, will these "bubble stories" die down?

Canada / General Chit-Chat

MATTHEW SLUTSKY

BuzzStaff

1969

^^I am not sure if it will ever go away, as there have been people claiming an immanent bursting of the bubble for the past 12+ years.
But, until some local reports come out, I also imagine the bubble-talk will start to subside.

ANONYMOUS

Unfortunately bubble talk will only increase as prices continue to rise. The talk will only stop if/when things actually do slow down.

MARCO DIFOTI

BabbleBee

476

Brian said:
Unfortunately bubble talk will only increase as prices continue to rise. The talk will only stop if/when things actually do slow down.

I disagree. Yes, the bubble-talk will continue on some sites such as Garth Turner, and the same places that people have been talking about it for years. The news will slow on this. The fact of the matter is, the reports that came out from the US were rubbish, with people who didn't know a thing about our market. If there was real news in December, then these stories would not have even run.

MATTHEW SLUTSKY

BuzzStaff

1969

Andrew la Fleur just posted an awesome blog posting with his thoughts, which can be found here: http://truecondos.com/toronto-condo-bubble-about-to-burst
He is generally speaking to Benjamin Tal, Deputy Chief Economist for CIBC, who is quoted as saying, “Prices are already softening, housing starts aren’t in the sky, MLS [multiple listing service] activity is starting to soften, so it suggests the market is already starting to level off”.
Andrew, a well know Realtor in Toronto, uses his own experiences to discredit the quote. My favourite point that he makes:

Andrew la Fleur said:
MLS activity is starting to soften. I’m looking for a resale buyer who thinks this is true. Please contact me immediately if you feel that you have more than enough choices of quality, well priced listings fitting your search criteria! All I see when I’m on the ground every day with buyers is a shortage of listings and anything that hits the market with any sort of quality will sell over asking in multiple offers.

Amen!! I am looking, and there is NOTHING out there to buy. Nothing. Nadda. In fact, I am going door-to-door this weekend asking people if I can buy their house.

ANDREW LAFLEUR

Buzzer

Matthew said:

Amen!! I am looking, and there is NOTHING out there to buy. Nothing. Nadda. In fact, I am going door-to-door this weekend asking people if I can buy their house.

You are wise. In this market, a little extra 'hustle' may be required.

ANDREWPAOLONE

NewBee

I am tired of the bubble talk, considering we have not really experienced a bubble anyways. A bubble is defined as a frenzied of activity. What we have seen is a healthy housing market, no bubble.
I wish that term would be abolished.