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When Hilliard MacBeth sees construction cranes rising above condo across Canada, the bearish housing analyst thinks: seven per cent.
That's the percentage of gross domestic product represented by Canada's annual investment in housing, or roughly $120 billion of $1.8 trillion in GDP.
However, in light of a recent Economist magazine analysis that tracked Canada's housing prices as being overvalued by 35 per cent, MacBeth says it's clear the world is forecasting grim tidings for Canadian real estate.
That's the percentage of gross domestic product represented by Canada's annual investment in housing, or roughly $120 billion of $1.8 trillion in GDP.
However, in light of a recent Economist magazine analysis that tracked Canada's housing prices as being overvalued by 35 per cent, MacBeth says it's clear the world is forecasting grim tidings for Canadian real estate.
(Source : cbc.ca)
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