How much do your neighbours owe on their mortgage?
Filed Under Main Content · Tagged: Barrie, Canada, Chief Strategist, Conundrums, David Rosenberg, Discrepancy, Globe And Mail, Gluskin Sheff, Great Divergence, Housing Market, Mckenna, Mortgage, Neighbours, Schools Of Thought, Sound Banks
The Globe and Mail- One of the economic conundrums of the past year has been the great divergence in the Canadian and U.S. housing markets. While American home prices swooned in 2009, the Canadian market only stumbled before resuming its inexorable climb upward. As Barrie McKenna reported in The Globe and Mail recently, there are two schools of thought as to what’s behind this discrepancy. One suggests that Canada, with its fiscally sound banks, simply avoided the bubble. The other, bruited by David Rosenberg—chief strategist at Toronto-based Gluskin Sheff + Associates Inc.—is more pessimistic. His assessment: The Canadian housing market is overvalued, in the range of 15% to 35%. In other words, we are dangerously close to bubbledom…
How much do your neighbours owe on their mortgage? – The Globe and Mail
