For those of you who read this blog, my apologies for not posting anything recently. I have been away for the past 12 months completing the lawyer licensing process. My intent is to do better in the months ahead.
As I start to read the financial press again, it amazes me to see how so little has changed! I have written before about how various economists have been predicting a Toronto real estate crash for years and years. You can find many mentions of this common theme in my previous posts in this blog.
And immediately upon my return from my temporary law job, what do I read on the American website CNBC? Why, it is a list of biggest risks to the US economy in 2020. Guess what number 19 is? You guessed it – a Canadian real estate crash. And that other risky hotbed of real estate froth – Sweden.
I suppose if you predict something for long enough, it might happen simply on the basis of probability alone? But if you had waited to buy on the basis of the (American) predictions of a Canadian housing crash, you would have been renting since … 2007? That is a big chunk of your working life.
Glad to be back. I will write more soon.