[NorthernAlex]

Where (countries), but in the US, did we have a bursting RE bubble, please?

Just in cities, because the LOCAL market was overheated, but not in countries.

London had its bubble- NOT Britain.

Barcelona, Madrid or new established summer cities like Benidom- but not Spain in general.

The ripple effect maybe reached each country in whole because of the news, but not because of the market in general.

Canadianbanks, do you mind of showing me examples others than Vancouver (overheated because of Olympia 2010), Edmonton (because of its oil) or Toronto and their Condo bubble, which will burst first?

I am from Europe and had there a RE history and have a track record here, too.

NOWHERE in Europe nor on the American continent is it so save (and lucrative) to invest like in Canada if you do your due diligence, follow investment rules and know the market where you invest.

The Tiger Woods years are gone, where every hit was an eagle, so to speak. Now you have to aim!

 

[NorthernAlex]

No, it is not a bubble.

I bought my first 1 BR apartment when I was 19 or so. Not fancy at all, but mine and cheap. I payed it off as soon and fast as possible. Met my wife, moved to a better 1BR. Got a baby, upgraded couple years later to a 2 BR... aso.

Call me old fashioned, but if I can't pay down 20% (min) I am not purchasing- not my rental, nor my private family home or whatever. I will have to wait longer to get there or I have to get something different/smaller.

Berubeland : Maybe it is not a bubble, but the inflated demand of the individual. See MDJ a couple weeks ago. http://www.milliondollarjourney.com/lifestyle-inflation.htm

In which major city in this world can a family live in a house, if they earn average income. It might sound harsh, but it is reality.

They would have to
a) save more to have bigger down payment
b) earn more
c) move out of town
to get a house.

 

[NorthernAlex]

I didn't think there was a real estate bubble, but am now getting suspicious.

I wrote a paper about real estate prices in Canada a year ago by adapting the Case Sheller index formula for the Canadian market and only came up with Calagary as a potential bubble location.

However, it seems too good to be true that prices are still at historically unaffoardable levels in much of Canada. I live in Vancouver and with a two income professional household income my GF and I are unable to affoard anything more than a 1 bedroom apartment. That is a joke considering we have a combined income over 100k.

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Investing In Canada

If someone would have asked me 16 months ago where we have a bubble in Canada I would have said Vancouver and the oil cities. Now I would say only Vancouver and this bubble will burst, fmpov, after the 2010 Olympics.

There are local bubbles (like Toronto has its condo bubble), but general Canada does not have one!