Chinese Media Is Now Warning Canada’s Housing Crash Will Be Worse Than The US

Predicting Canadian Housing Market Crash “Worse Than US”

Chinese buyers warned of the dangers of owning Canadian real estate

By alli dawn Politics 18.07.2016

Facebook Twitter

Meet Marc Cohodes. Since 1982 he’s made a career as a short-seller, or in other words betting against companies which he thinks are soon to crash. In 2008 he made so much money predicting Lehman Brothers demise that he retired. But the Canadian real estate market has proven too temping to keep him away. Now he’s come out of retirement to hedge his bets that it will crash– and he is not alone…

While Canadian media continues to report on Chinese buyers driving up real estate prices, there’s another story happening on the other side of the pond. China’s State regulated media is warning buyers that Canada could be headed for a housing market crash worse than the U.S. experienced in 2008.

Did The Canadian Real Estate Bubble Pop?

September 27, 2016 In: PFT Global, PFT Original    Comments

 

Canada is said to have been experiencing a real estate bubble for many years now, and experts have been waiting for it to pop, wondering what was going to be the catalyst. Some are convinced that it was the recently introduced tax on foreign buyers and that thanks to its introduction we are now seeing the result of that bubble pop,  a downfall in the market.

But not everyone is convinced that the tax has popped the bubble, some suggest that there was already a downward trend showing before the tax had been implemented. A legal challenge against the Constitutionality of that new tax has also been recently launched. Despite the negative feedback however, now Ontario is looking to implement a similar tax.

Some are wondering if things will get back to normal and demand will return, but things could remain messy for awhile still as things remain to be worked out before the courts. Recent data coming out after the tax was introduced shows plunging foreign investment and unsurprisingly a surge in new popularity for B.C. Premier Christy Clark.

It has also been suggested that the real estate bubble isn't only pertaining to hot spots like Vancouver and Ottawa, but that there are troubles throughout the nation as a whole and it's possible that many areas might see a dramatic drop in prices should that bubble really pop if it hasn't already.