Description
Book SynopsisA newly updated edition for the fast-changing real estate market in Canada!Over the last two decades Canadians have become convinced that real estate is thesafe haven investment. This widely held belief and obsession with real estate led millionsof Canadians to take on massive amounts of debt tripling their collective financialburden ensuring that Canada is one of the most indebted nations on the planet.
Drawing on dozens of interviews and even more conversations with individualCanadians and couples, this second edition also tackles the economicconditions and regulatory rules that allowed such a dangerous situationto develop in Canada, formerly a nation of conservative and prudent citizens.
Hilliard MacBeth argues that Canada is in the midst of an unprecedentedreal estate bubble and that there will soon be a crash in house prices,triggering a financial crisis. Individual Canadians and families can still take action toprotect themselves from the fall
Trade ReviewNow that Canada’s housing bubble is bursting, Hilliard MacBeth will be recognized for having called it beforehand. He blends the practical knowledge of a financial advisor who successfully survived numerous booms and busts with an intellectual's knowledge of the fallacies that bedevil conventional economics. * Professor Steve Keen, author of Debunking Economics and Can We Avoid Another Financial Crisis? *
A great read and packed with useful insights and information, this is one Canadian housing-related asset that should hold its value remarkably well over the foreseeable future. * David Orrell, author of Quantum Economics: The New Science of Money and Economyths *
Table of ContentsNote to Readers
Introduction to the Second Edition
Part I: The Bubble
Chapter 1: Canada’s Housing Bubble Defies Gravity
Chapter 2: Canada's Debt Addiction
Chapter 3: Bubbles, Bubbles Everywhere
Chapter 4: Japan: A Warning
Part II: A Shaky Foundation
Chapter 5: Preparing the Ground
Chapter 6: Detached from Reality
Chapter 7: Debt and Money Creation
Part III: Canada Is Special
Chapter 8: Canadian Exceptionalism
Chapter 9: Blowing Bubbles: The Role of the CMHC
Chapter 10: Banks Will Survive (But They Won't Thrive)
Part IV: A Place to Live
Chapter 11: A Home, Not an Investment
Chapter 12: Boomers Will Need to Sell
Chapter 13: Who Gets Hurt?
Part V: Surviving the Crash
Chapter 14: Into Action
Chapter 15: Who Wants to Be a Landlord?
Chapter 16: Avoid These Mistakes
Chapter 17: Beyond Survival
Chapter 18: Change Is Needed Now
Acknowledgements
Bibliography
Index
