Most well-informed investors know that the China RE bubble may be showing a few tiny hints of beginning its deflation, otherwise known as the slow death spiral.
But, did you know Canada is in the same boat? At least, that seems to be true in B.C. Here is a correspondent with Mish, telling the tale from his perspective.
“…million dollar mortgages which are fully insured by the tax payers of Canada are being handed out to 20 year-olds like they are candy and meanwhile our government still declares, just as the US government did before its house crash, that there is no housing bubble and that prices will remain stable and affordable,” he says.
Check out that post – it will make you and Dr. Housing Bubble laugh.
The fun never stops.