By Jim Cross | KTAR
A potential Canadian real estate bubble will not hurt the Valley’s housing market, a local Realtor said.
“The only effect I could see of a Canadian housing bubble popping is people unloading their property here for cash,” said Diane Brennan, co-host of KTAR’s That Real Estate Show. “But we’re in a buyer’s market anyway so buyers would purchase those properties.”
Statement by Jim Belfiore, real estate consultant: “I agree with the contention… Canadian’s don’t make up a significant percentage of overall buyers, so their absence on the buy side will not have a dramatic effect on the demand side. I would expect, if the Canadian dollar continues to weaken or the Canadian economy struggles, more of the supply they purchased at lows to be offered up for sale on the market.”
If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com
