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Pop Goes The Canadian Housing Bubble

From the Globe&Mail…

At a recent dinner party with a group of fellow boomers, the conversation turned to our homes. Most of us live in relatively large ones on big lots, with all the attendant headaches.

Our yard is graced with a dozen towering cedars that packed quite an appeal when we first saw them. They’re still beautiful, but also a royal pain. Each spring, I’m forced onto the roof to scrape off the moss they generate. The shedding they do in the fall fills dozens of large refuse bags over multiple weekends.

Won’t it be nice, we all agreed, when we don’t have to worry about such things? But then we began wondering who’s going to buy our homes.

It’s a question that Dowell Myers of the University of Southern California has pondered, too. He is among a number of urban planners and demographers predicting another housing crash, this one caused by the massive sell-off by boomers wanting to downsize.

http://www.theglobea…article1867849/

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