[sonick]

lol fucking classic Garth Turner in response to the SFH price drop due to foreign buyers tax:

Two charts ? Greater Fool ? Authored by Garth Turner ? The Troubled Future of Real Estate

Has preached for years that foreign buyers were not the source of the bubble, sure he admits it might be 'IN LARGE PART':

It was not so much that the measure walled off the Chinese dudes (although it did, in large part)

But then quickly backtracks to his usual spiel of blaming dumb locals because they THOUGHT the foreign buyers were causing the high values. As usual, with no evidence besides his own rhetoric:

but rather that the locals believed that to be the case, while mistakenly feeling foreign buyers were responsible for the gasbag prices their own FOMO has created.

Then he shows this chart... lol @ the ominous red dotted down arrow and the big red question mark: http://www.greaterfool.ca/wp-content...4-modified.png

Which he compares to the US housing crash of 2008... omg the curves look similar, the bubble has burst, Garth was right all along!!! http://www.greaterfool.ca/wp-content...6/09/CASE3.jpg

Edit: appears Garth disabled hotlinking to his images. Perhaps he doesn't like it when his idiocy is criticized on the interwebs.