(Source: The Globe and Mail)
If there is a real estate bubble in Canada, you sure can’t see it from Drouillard Road.
Three-bedroom houses in this hardscrabble neighbourhood can be had for less than $30,000. Yet there are no offers. Several houses on the busy semi-residential street sit empty, with foreclosure notices posted in their front windows. Nearby, corner stores that used to be open 24 hours a day have shut down.
It’s a far cry from the Toronto and Vancouver markets, where prices are leapfrogging and dinner-party chatter has once again turned to the latest neighbourhood bidding wars.
Read the full article, “The home price puzzle” in the Globe and Mail (Feb 19, 2010).