Real Estate

CDN dollar down globally - does this mean correction has occurred?

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  • Jan 27th, 2016 10:54 am
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Deal Addict
Oct 3, 2005
1262 posts
73 upvotes

CDN dollar down globally - does this mean correction has occurred?

With the Canadian dollar now tanking globally does this equate to a correction in housing?

I mean the value of the dollar is down 30% and so does that mean a correction has occurred in housing?
4 replies
Deal Addict
Apr 19, 2014
1042 posts
991 upvotes
hello99 wrote: With the Canadian dollar now tanking globally does this equate to a correction in housing?

I mean the value of the dollar is down 30% and so does that mean a correction has occurred in housing?
No: The overwhelming majority of real estate (most importantly debt associated with real estate) is owned by Canadians in Canadian dollars
Member
Dec 13, 2008
211 posts
27 upvotes
arkroyal wrote: No: The overwhelming majority of real estate (most importantly debt associated with real estate) is owned by Canadians in Canadian dollars
This is true. So not really a correction for Canadians at this time. But it does mean that Canadian real estate is on sale. The Chinese, Americans, and British will hop into this train now
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
484 upvotes
Vancouver
flaygrant wrote: This is true. So not really a correction for Canadians at this time. But it does mean that Canadian real estate is on sale. The Chinese, Americans, and British will hop into this train now
That and the exporters that are having a field day selling discounted products to Americans.
Sr. Member
May 3, 2013
760 posts
475 upvotes
Toronto
hello99 wrote: With the Canadian dollar now tanking globally does this equate to a correction in housing?

I mean the value of the dollar is down 30% and so does that mean a correction has occurred in housing?
Depends on market. I think Vancouver and Toronto will not have any correction ESPECIALLY due to the low dollar.

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