Thread Rating:
Larry Macdonald - G&M - Is canada talking itself into a housing crisis
|
01-25-2013, 09:05 AM,
(This post was last modified: 01-25-2013, 09:12 AM by Mortgagebackedsecurity.)
|
|||
|
|||
Larry Macdonald - G&M - Is canada talking itself into a housing crisis
Article here:
http://www.theglobeandmail.com/globe-inv...le7589164/ One particular part of Macdonald's commentary reads like a lie to me: Quote:Moreover, credible analysts don’t see a U.S.-style crash. Professor Robert Shiller told CBC News in September that Canada should be spared because its banks have low subprime exposure. In fact, Shiller said the following (http://www.cbc.ca/news/world/story/2012/...rices.html): Quote:Now, both Shiller and Drummond are quick to say Canadians are not likely to experience the near-total meltdown Americans experienced. Macdonald's assertion is that Shiller doesn't think Canada will experience a US style crash, however in the context of Shiller's statement, Madonald's article is contradictory because Shiller clearly makes a case that the run up in Canadian real estate prices can't continue ad inifinitem. Macdonald's article clearly states that he thinks the fundamentals don't point to a downturn in real estate prices: Quote:Little was heard of housing bubbles in Canada up to about a year ago. Now, predictions of crashes are on the front cover of Maclean’s and other publications. One might wonder if we are talking ourselves into a housing miasma, even though the fundamentals don’t point to one. |
|||
« Next Oldest | Next Newest »
|
Users browsing this thread: 1 Guest(s)