« Real estate outlook for 2009 | Main | U.S. home prices down 18% »
Real estate prediction of the year
Former Liberal and Conservative MP Garth Turner deserves the honour of best real estate prediction of the year for his book Greater Fool: The Troubled History of Real Estate (Key Porter Books, $21.95), which was released last March, less than a month after the Vancouver housing market peaked. Turner, who is also a broadcaster and financial columnist, forecast a big correction in housing markets across the country.
That's exactly what happened.
“Few people in Boston, where home values doubled between 1997 and 2007, would have then expected, without warning, the worst market decline since 1958,” Turner wrote. “I trust nobody in Vancouver, Kelowna, Saskatoon or Toronto expects that either.”
See more on Garth Turner's blog »
December 30, 2008 in Canadian Market Forecast | Permalink
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c51e453ef010536a4e3cd970c
Listed below are links to weblogs that reference Real estate prediction of the year:
Comments
The market is real down and if we go by the reports, May 2009 would be the worst part. Need to go on cautious treading
Posted by: home staging | Jan 1, 2009 12:16:00 PM
