Housing crash is coming says portfolio manager
An Edmonton portfolio manager is so sure there will be a crash in the housing market that he’s written a book on how to survive it. Hilliard MacBeth from Richardson GMP wrote the book after realising the extent to which many of the hundreds of households he manages funds for are very exposed to the housing market. MacBeth says that historic data suggests that we could see a correction of 50 per cent, taking prices back to the level they were at when the current bubble started, which he says was 1999 or 2000. With high levels of household debt and some investors owning large property portfolios, he sees a potentially devastating problem for the market and wider economy. MacBeth’s prediction for the crash is spring or summer next year. The book is called “When the Bubble Bursts: Surviving the Canadian Real Estate Crash”.