>Our economy is roaring along while the U.S. economy tanks.
>Gosh, I'd better tell all the people buying new, $400,000 >houses in my (rural, Southern) county that our economy is >tanking.
The Canadian economy didn't go thru the post 9/11 recession the US economy did. Canada hasn't had a recession in over 10 years and in fact really is in full "biggest boom ever" mode in many places. No federal deficits either. With oil at $58US a barrel and with all commodity prices shooting up the Canadian economy is doing gangbusters. Alberta's economy is stratospheric. The whole province, economy, population and all is growing by 10%+ a year.
In Toronto, Vancouver and many places in Alberta $400,000 won't buy you a garage in a half decent neighbourhood let alone a house. The real estate boom is bsed more on low interest rate bubble mania than true economic fundamentals and strengths.
The saying goes, when stocks are poor, real estate is hot.
Interesting perspective, thanks. In North Carolina, $400,000 buys a palace.