Vancouver bubble

With US real estate markets crumbling, how far behind can we be?

Wow! The July report on US housing sales sure got everyones attention. With all the excitement this wake-up call has generated the July numbers will look like childs play compared to August and September.

By ignoring economic and demographic indicators, markets have steam rolled to irrational levels that can only lead to a blowoff. The cash that has been sucked out of home equity to feed the economy for several years has dried up and will be sorely missed by an alreaddy threatened economy.

I'm really baffled by suggestions that the olympics will save us. Is the employment to construct the facilities expected to feed real estate? Will foreigners want to move here after discovering paradise? The market will have crashed by then and may be attractive to bargain hunters. Am I miising something here?

With obvious signs that Vancouver has already peaked, it would be unfortunate for young first time buyers to miss these signals and get trapped by entering the market at the wrong time.