Quote:
Originally Posted by Gridlock
Seriously? That's what it takes to impress you?
Not to go on a tangent here, but Mr. Yale, why don't you discuss a little bit on the fundamentals of income vs. price or a little something that people don't know about real estate.
I agree with you. I don't need another dick head to sit there and make his branded predictions. That helps no one, but you can go a little further into it. Jesus, the best part was talking about the commercial landlord guy that wasn't even on the show. Double. Nice.
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I guess Shiller knowing he is on BNN didn't try to go into fundamental data as most viewers on that show are probably already aware of it. He is just saying be very cautious if you are going to buy a house in vanouver or toronto as with any investment real estate market goes through cycles.
We pretty much went on a 10 year bull market since 03, so it shouldn't surprise people if we have a 3-4s year of price decline. The irrational exuberance will eventually wear off but it is difficult to call a top.
Just look at the stock market. Who did the most buying at the peak in 2006? Your typical retailer investors of course. Then like clockwork they puked all of it out at March 2009 bottom. The cycle always repeat itself. People buy at the top, sell at the bottom. If it doesn't work like that I don't know how am I going to make a living.