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What is the Albrighton / thespacelofts.com blog about?
This blog will mainly discuss topics to do with innovative architecture, building methods, and display some very nice real estate that reflect good design, and not "builder spec-specials". Additionally real estate topics and unique homes will be posted. There is never enough good architecture displayed on the net. In return this will draw like minded people together and use Albrighton marketing when it comes time to sell or buy their property. If you have an article you would like posted or topic discussed please email me at [email protected]
Overpriced Countries, Canada\'s a Bargain
There's no shortage of housing markets that look like bubbles waiting to burst, but economists say Canada has become one the safer places in the developed world to own residential real estate.
In the aftermath of the global credit crunch Canada is less vulnerable to a large drop in house prices than any other major advanced economy except Austria, according to the Washington, D.C.- based International Monetary Fund's World Economic Outlook. Canada and Austria were the only two countries out of 17 included in the study in which house prices appeared to be at or lower than where they should have been at the end of the period from 1997 to 2007.
For each country in the study, house price growth was modeled as a function of the following: affordability ratio, growth in disposable income per capita, short and long-term interest rates, changes in equity prices and changes in the working age population. The study used data from the past decade. A gap occurred when house prices were higher or lower than these economic fundamentals suggested they should be. Large positive numbers indicate an overvalued market.
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Submitted by Paul Albrighton for spacelofts Vancouver at 1238 Seymour St.