By the stability and price increases we have had in the housing sector. To my mind rising unemployment should result in lower prices. It has had me baffled.
Well this article may have solved it for me.
When Home Prices Rise
So Globe and Mail reported on why the housing market didn't crash.
As usual they based their facts on consumer demand and delinquency rates. Both of these factors are irrelevant in a bull market: there is always demand and assets are liquid so why would you default?
I'm about to offer the absolute best evidence of why Canada's housing market has to crash. It's written into the cards. So here it is in three quick charts.
We can start off by taking a quick snapshot of residential mortgage credit in Canada over the past thirty years. Snap. Got it?
http://www.americacanada.blogspot.com/So look out folks.
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