CBC News – Kevin O’Leary and Amanda Lang discussed the Canadian real estate in particular to the ‘shoe box condos’ with the pre-sales. Kevin expressed opinion of a possible 15-20% dip on these market. View the first 7 mins of the video by clicking on the image.
Doug Porter, Chief Economist with BMO, (video min 13:30) – expressed that a lot of the activities in 2010 in BC and Ontario has been front loaded because of the expected HST in July. Among different sectors, the investor market would be affected more due to the insurance policy in place on April 19th (used to be 5% down, now 20% down). Due to relatively low interest rate and stable fundamentals, he is positive on the general real estate market. He also thinks that the next 10 years growth will be very different from the past 10 years the gains we’ve seen. Some cities, such as Toronto and Vancouver, in his opinion, had been over-heated in terms of price and activity.