Thursday, January 12, 2012

Fun stuff and Canadian Real Estate predictions

I'm just back from several weeks in sunny Mexico, enjoying the sun and the margaritas... anyway the stark reality that is winter really hit the spot this morning, with very uncomfortable conditions, with snow on the way -- maybe even some rain (we are so lucky here!).

A friend of mine woke up last saturday at his cottage,a bout 1km from mine to see on his snow covered dock two wolves.  I have never seen wolves near our cottage, or even wolf tracks (which are rather distinctive), although we have seen increased dear population and foxes so its natural that their predators would follow.

On a more amusing note, and in the "Shit you not" category, was the announcement by Royal LePage, one of Canada's largest real estate brokerage group that:  "Housing prices will continue to rise in 2012". Very much like NAR in the US these groups will never (even if earth is destroyed by aliens) acknowledge that prices could stop rising or even fall.

Canada has seen its longest ever housing boom, with nearly 13 years elapsing since a correction (I discount the 2008 episode since it was a few months long and driven by global liquidity issues).  No house price will continue their upward trend forever!  It is absolutely natural for Canadian house prices to rose by 6% or 7% per annum indefinitely --- morons I tell you complete morons.  

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