Edmonton homeowners not ready for crash says MacBeth

There’s a housing crash approaching for Edmonton but homeowners are not prepared for it according to the author of “When the Bubble Bursts: Surviving the Canadian Real Estate Crash.”

In his latest warning over the Canadian housing market, Hilliard MacBeth says that people in the city may think they are safe as Edmonton swerved the worst of the recession in 2009.

"People have been lulled into the idea that house prices always go up,” the Edmonton portfolio manager told CBC’s Edmonton AM.

MacBeth believes that we will be into the next decade before the city’s housing market is looking strong again with 2 more years in a slump and the same again to climb out.

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