DECEMBER 18, 2011
This will be a very short post.
I did a radio interview for This Week in Money in Vancouver. My segment starts around 19:00 or so.
I'd also like to highlight an interesting article by Prakash Loungani, a senior resource manager and advisor in the IMF's Research Department:.
The chart below compares changes house prices in various countries relative to their long-term price/income and price/rent trends. Canada ranks as most overvalued in the world based on rents, 5th most based on incomes.
I've previously highlighted why rents are so crucial in underpinning house values: