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Old Posted Jun 30, 2011, 6:28 PM
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freeweed freeweed is offline
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Join Date: Sep 2006
Location: Dynamic City, Alberta
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Quote:
Originally Posted by Spocket View Post
Manitoba's housing was seriously undervalued for years and with renewed , relatively strong population growth putting pressure on an already under-supplied market , I don't understand why you think that Man. (or Sask for that matter) is a bubble market .
Well they're both bubbles in the sense that values skyrocketed in a short period of time without corresponding wage growth. The longer term question is whether or not the prices remain affordable given the local job market.

From what I know from friends in Winnipeg, people still seem to be able to afford housing, so I don't think it's in a bubble quite yet. Mind you, a lot of the recent increase was due to a severe shortage of newer housing over the past 15 years combined with a sudden jump in population, so I could easily see some new subdivisions popping up which depress prices somewhat. Whether it would be enough to demonstrate a "bubble" is a whole other matter.
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