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No Housing Bubble here

Real Estate Bubble???

We are in the midst of a crazy real estate market from coast to coast here in Canada. Properties are selling very quickly and in some cases there are multiple offers and they are selling not for thousands of dollars over list but hundreds of thousands of dollars over the listing price.

Here in Nova Scotia in particular where we are used to only modest gains in values of only single percentage points. There was recently a transaction in my subdivision, single family home, bungalow, 4 bedrooms, 1 bathroom and unfinished basement. The property had not been on the market since new 54 years ago. My Realtor told me that this home had 28 offers and sold for just under 300K over list price.

Now unless you have been under a rock lately you have heard some of the financial … Read more