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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (31296)	4/8/2010 2:41:56 PM
From: sea_urchin	1 Recommendation Respond to of 81137

Phil > The value in comparison to many other cities next door in the US is far too extreme in the negative, and suggests that prices will collapse at some point. The driver for the house price rises is not only local speculation but actual demand for housing by immigrants. While Canada remains one of the most desirable places on earth where people want to live, one can expect the demand for housing to continue. There's a similar situation in Australia and in Monte Carlo!! The US is telling another story, that there are too many houses and too little demand. > I have watched the real estate prices for decades, and for decades I have thought they were too high, and for decades I have been wrong, so take that for what its worth. Your mistake was that you assumed the market was in equilibrium between local buyers and sellers, but in fact there was increased demand because of immigrants and/or foreign speculators. I know Vancouver is very popular with the Chinese, Toronto with the Jews. Need I say more?