I’ve been seeing a lot in the news lately about Canadian and Australian real estate prices. Here’s just a sampling:
New Brunswick real estate offers a lesson on peak housing prices
Condo flipping on the rise as Vancouver market heats up
Face it Canada – you’re a real estate addict and no one wants a cure
Canada real estate industry welcomes Buffett to the neighborhood
Canada’s red hot real estate heats up apartment market to heights not seen in 30 years
Canada is on the ‘A-list’ for commercial real estate investors, in a world of uncertainty
Most of what we’re hearing is that there’s little to worry about with our neighbor’s real estate prices shooting to the moon.
Well, as I told 5 Day Forecast readers yesterday, there IS something to worry about. Something BIG.
Today, I’ll share with you what I told Boom & Bust subscribers yesterday…
Between early 2006 and late 2012, real estate in the U.S. took a whipping worse than what the Great Depression dished out. It lost 34% compared to the 26% it shed back in the early 1930s.
But property prices in Canada and Australia hardly paused, and then they continued their march higher.
Canadian home prices are now 84% higher than in the U.S.!
Despite Canadian’s slightly lower incomes!!
And the Aussies’ are even higher. Home prices in Australia are now 107% higher than those in the U.S.!
It’s terrifying. Stephen King should turn it into one of his horror stories. It’d be a best-seller.