And another with an invested interest in keeping up the "morale":
It appears that Canada has been caught up with home buying fever just as the United States and other countries around the world, said Shiller, co-founder of the S&P Case/Shiller Home Price Index.
Asked whether that meant Canada could face a similar bust, he said: "Yes, especially in places that went up a lot like Vancouver and Calgary..."
Tony's right. There will be insulated places, just like in the US. These places didn't rise too far, too fast and create the conditions for a bubble in the first place. I'm thinking places like Charlottetown and Shediak fit. Does this sound like Victoria to you? Read more at the TC.
Tony Joe, Victoria Real Estate Board president, responded by saying that there are pockets in the U.S. where the housing market is healthy.
If there is a bust in Canada, "There's going to be insulated places in the country and with all the attributes that Victoria has, of all the places in the country, we are probably best-insulated," Joe said yesterday.