Welcome to the second, less frequently-posted decade of RevMod.

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Wednesday, May 26, 2010

When even the bank sounds bearish, what's on the horizon?

A CIBC economist has predicted that Canadian housing prices are due a correction, albeit slow and steady over the next couple of years. Given that the bank has a vested interest in the bullish side of the real estate business (Step one, issue mortgages. Step three, profit!), this can't bode well.

But don't worry, the Chief Executive of Century 21 Canada says everything's fine, and he'd have no reason to lie.

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