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How does a real estate bubble or housing crash start?
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They keep saying 'bubble' in Canada. Ive heard it for years. Especially after the US housing crash.
So what's happening now is the prices in Canada for homes have remained very high. Sales are slow. Prices still are not coming down.
How is it possible for the value of real estate to drastically decline to half the value? I can't see that ever happening.The worst case scenario would be the value of a house going down slightly to the level people can somewhat afford. What would cause a drastic decline in prices?
Wouldn't lowering the prices slightly avoid a bubble?
What happened in the US is not happening in Canada. Even though everyone is talking about it 24/7, it's not happening.
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