SFH down to just over a Million. Down $200 K from the all time high.
.jpg)
This all happened with mortgage rates at almost zero (3% fixed and variable 5 year) and with the panicky buying of early July as the last bunch of highly leveraged buyers were loaded on board the creaking ship HMS CMHC.
August will be very interesting indeed.
PS sorry about the cliche picture. Had to put something up quick :)
I think there will be widespread disbelief if the HPI does NOT show a significant drop for JULY.
ReplyDeleteDrop? Sounds like another 2% gain to me.
ReplyDeleteAt least in jury-rigged HPI land.
ReplyDeleteIs the HPI out? I haven't seen it yet.
DeleteNo... I'm being a tad sarcastic :)
DeleteIf it did go up- The divergence would be so large between average/sales volume and HPI that it would lose even more validity.
Delete2010 prices are still way too high,need to go back to 2000 prices, and will eventually.
ReplyDelete"HMS" ... he he he
ReplyDelete