daveto
Active Member
It should have been obvious but since you're feigning ignorance... I'm not responding to a specific quote from 2010. I'm responding to the refrain by the sky-is-falling types in this thread over the years, a refrain you have repeated. You, like this misguided soul, were trying use the US as an example of what to expect for Toronto.
But then why did you refer to Las Vegas and Miami RE as proxies for the entire US RE market? I dunno - its almost as if you wanted to present a weak strawman argument that you could easily defeat (ie Toronto won't see 60% decreases a la Miami/Las Vegas).
I mean, I could understand if you said "hey, I took some poetic license, and of course I realize that you weren't comparing Toronto to specifically Las Vegas and Miami". But to my surprise, you've made no such acknowledgement.
In any event, if I understand you correctly (and please advise if I am mis-stating your position)
1-Las Vegas and Miami RE are suitable proxies for US RE
2-Canadian RE has nothing in common with the US RE.
3-In your personal experience, enduser purchasers of real estate are motivated exclusively by their intention to "consume" (ie live in), and their purchases are wholly unaffected by considerations of future price increases or decreases in the resale value of their property
Ah well, in this case, I guess we'll just agree to disagree.
signed
Dave, the misguided soul