MacLean's Magazine Predicts 2013 Real Estate Crash. They're Wrong!

MacLean's Magazine Predicts 2013 Real Estate Crash. They're Wrong!

Call'em out on it. Don't let'em get away with it. Maclean's bold face sensational article claiming there is a housing crash occuring right now in Canada in particular Toronto using cherry picked numbers from one month to state there is a crash in Toronto. If they had done their research, they might have seen that 2011 was a record year for home sales in Toronto, with numbers up 30% over the historical average. So the fact that housing sales have come down 30% just means we are coming back to the normal level of housing sales.  For instance, Toronto in an average year records 15,000 to 18,000 new condo sales. But 2011 was an a breakout year for sales, with some 28,000 condo sales recorded, and the fact that in 2012 we returned to the normal level of sales is not a sign of the Apocalypse. Not only that, they downplayed the fact that year over year, housing sales in Toronto were down only 7%, and again, 2011 was a record year for housing sales in total, when you include detached and lowrise homes, versus highrise and skyscraper homes. Also downplayed was the fact that condo prices in Toronto were down only 4.5% hardly a sign of impending doom.

Oh well, what can they do, they need to sell Magazine, just like the Toronto Sun, they gotta go for the Wing-Nut Headlines....