They still seem pretty sanguine about home prices north of the border, but, if the country I lived in appeared in the far right position of a chart like this one from a recent IMF survey on global home prices, I’d be a little concerned about not overdoing it on credit and maybe selling an investment property rather than buying another one.
Bloomberg filed this report on the subject yesterday that included the following:
“Investor-owned condos have got to be a cause for concern, just because of supply and demand,” Bank of Montreal Chief Executive Officer William Downe said Jan. 10 at a banking conference in Toronto. Royal Bank CEO Gordon Nixon said “there’s no question” that the condo markets in Vancouver and Toronto are the most vulnerable in the country.
Investor owned condos… You don’t hear too much about that in the U.S. these days, but they were a hot topic in places like Miami and Las Vegas in 2005…