Craig Alexander
Craig Alexander
Craig Alexanderis an Australian triathlete who is the 2008, 2009 & 2011 Ironman Triathlon World Champion. He is the course record holder for the Ironman World Championship. He is also the winner of the Ironman 70.3 World Championship in 2006 and 2011...
ProfessionTriathlete
Date of Birth22 June 1973
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Based on long-term factors, including demographics and income growth, the average annual increase in national home prices is likely to be around four per cent in the coming decade, so the recent high single- digit and low double-digit gains cannot persist indefinitely. But, the key issue is whether the adjustment to a more sustainable trend is gradual. The good news is that this is what appears to be happening in Central and Atlantic Canada.
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In addressing the matter of a speculative housing bubble, the more important question to answer is: are these robust economic fundamentals in Vancouver strong enough to support such price gains? Based on a number of indicators, we still don't think so.
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It is one of the hardest things to forecast. So, get used to it.
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In contrast to Central and Eastern Canada, housing conditions in Western Canada remain very tight and are showing increased signs of speculation. When economic conditions are booming, it can also create the perfect breeding ground for speculative price bubbles to form. That's because in such an environment, housing market participants are at greater risk of developing a case of irrational exuberance, especially if they expect that such exorbitant price gains will continue indefinitely.