by Salman Ahmed
The events of the last 18 months have provided great fodder for Canada’s national pastime: discussing the housing market.
Every Canadian has an opinion. We either think housing prices are ridiculously high or that real estate is the only thing you should own. There is no middle ground.*
Both sides make some good arguments. These days the real estate bears are getting more airtime as prices have been rising. But I’ve noticed they don’t put their money where their mouth is.
The investment “experts” you see on TV exclaiming that Canadian real estate is overheated own their homes and usually have a vacation property or two. Their passion doesn’t seem to translate into action though. I have yet to hear one commit to selling any of his properties. A reasonable course of action if one has such strong conviction, don’t you think?
Generally, when someone presents their strongly held opinion on an investment topic, I probe how aligned they are with their view. If they aren’t - I ask what’s holding them back. The response usually reveals more than their analysis. I’ve found housing to be no different.
*Since I’m bound to be asked: I’m one of the chumps in the middle on real estate. I can see different sides of the arguments. I also own a small condo with a mortgage in Vancouver, so who am I to talk?
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