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bubble Here’s an article about real estate bubbles from the Ottawa Business Journal.  Among other points:

  • Many economists believe home price increases above inflation are unsustainable long term.
  • The average house in Vancouver costs over 70% of the average household’s income. In Ottawa, it’s 35%.
  • Yale economics professor Robert Shiller says Vancouver has the the most “bubbly” real estate market in all of North America.
  • TD says, “it is, by definition, impossible to identify a bubble before it bursts, since rational investors would refuse to hold any asset whose price was certain to fall.”