Famously pessimistic housing market commentator, Garth Turner, says Canada home prices ‘unaffordable’ and overvalued…

(Source: Vancouver Sun)

Home prices in Calgary are overvalued by 15 to 20 per cent, “seriously unaffordable,” and set to start falling, says a nationally known economic and housing market commentator.

Garth Turner, who is in Calgary tonight to speak about his views, said the residential real estate market is at the top of its curve.

“We’re at the moment of crisis. In other words, the moment when the market will turn from being essentially a sellers’ market into one that’s flat and then eventually into one that’s a buyers’ market,” said Turner, who is appearing at the Airport Radisson at 7 p.m.

Read the full article, “‘Unaffordable’ Calgary homes set to backslide: author” in the Vancouver Sun (March 31, 2010).

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