Thursday, March 25, 2010

Open Question: Why have sales of new homes in U.S. fallen to record lows, at same time Canadian home sales at record highs?

Here's the U.S. data: http://www.bloomberg.com/apps/news?pid=20601068&sid=aToSv9PXNo3g# headline: " Sales of New U.S. Homes Dropped to Lowest on Record (Update3) " Here's the Canadian data: http://www.theglobeandmail.com/report-on-business/canadians-fret-over-mortgage-rates-prices/article1510682/ headline: "On Tuesday, Bank of Nova Scotia forecast in its real estate trends report that home sales are expected to rise 10 per cent to 510,000 this year, while average prices are expected to jump 8 per cent to a record $345,000. " What the heck gives? Why is our real estate market booming ! , no, its SHOOTING TO THE MOON ! , but at the same time the U.S. housing market seems really dead ??? Why the huge difference ?? Is there something about Canadians that make us smarter, perhaps better than the Americans ?

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