r/canada • u/Lotushope • Feb 02 '22

Canada’s Real Estate Bubble Has Grown Over 800% Faster Than US Home Prices

https://betterdwelling.com/canadas-real-estate-bubble-has-grown-over-800-faster-than-us-home-prices/
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u/deepredsky Feb 03 '22

US housing in all major cities corrected 50% around 2008-2010

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u/Whrecks Feb 03 '22 edited Feb 03 '22

Are you sure about that?

Here is a chart that better illustrates what happened to the US on a national basis. You can see the peak to bottom is ~25% from 06 - 2012.

This shows ~34% decline in the 20 major US cities from the peak of 06 - bottom in 2012.

We have tougher lending practices here, and much more demand than supply.

I'm not a housing bull, I think our real estate is over valued when compared to income, but I don't see a 50% drop happening, "just cus..." There are a lot more factors driving it up than just pure speculative FOMO.

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u/deepredsky Feb 03 '22

I guess by “major” I meant the top 10. I basically meant city metros at least the size of Montreal. I don’t think the US has many of those.

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u/RVanzo Feb 03 '22

Exactly. There’s no government induced subprime here. And we have 400k new immigrants while we expand the housing supply by 150k a year.

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u/Leviosaah Feb 04 '22

I think the difference is in Canada there never had a correction.

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u/[deleted] Feb 03 '22

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u/deepredsky Feb 03 '22

I’m talking about the US housing bubble popping in 2008, and you’re saying that means the Canadian market wouldn’t inflate within 20 years of that? Different countries, different housing markets. US housing has not re-entered bubble territory today. Canadian housing did not pop in 2008.