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RE: Canada's Housing Bubble Is About To Explode!
This is true I see it seeping into Kamloops people from Vancouver will sell one house and move here and buy two but now you can't even do that. As for the collapse it will come and I think people are already catching on.
As I'm in the business of construction and this summer has been the worst I've seen including 08' that to me is a good sign people are stopping building. It's funny to because on local Kamloops news they where saying it was. The best year for houses . That's funny seeing I sat for weeks on end and still em behind struggling due to the slow down.
Yikes. Hearing this from someone in the construction business has me really concerned. I rent but my mother recently sold her home and bought an expensive new home instead of downsizing. She thinks she has made a great investment that will pay off for her kids down the road but I have my doubts about that. I wonder if rental rates will drop as well? I'm paying $1400 for a small condo!
Well I hope in the future that investment works out for her. But I know we have a down trend coming , maybe for a year or two or maybe more. What I do know is I have been working non stop, for last ten years on brand new houses. And now it's getting bad. Every one says I'm crazy but what can yah do.