A 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 the“safe 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 fallout of the bubble bursting — if they act quickly.
Hilliard MacBeth has advised individuals and families from across Canada on their investments for forty years. He lives in Edmonton.
Note to ReadersIntroduction to the Second EditionPart I: The BubbleChapter 1: Canada’s Housing Bubble Defies GravityChapter 2: Canada's Debt AddictionChapter 3: Bubbles, Bubbles EverywhereChapter 4: Japan: A WarningPart II: A Shaky FoundationChapter 5: Preparing the GroundChapter 6: Detached from RealityChapter 7: Debt and Money CreationPart III: Canada Is SpecialChapter 8: Canadian ExceptionalismChapter 9: Blowing Bubbles: The Role of the CMHCChapter 10: Banks Will Survive (But They Won't Thrive)Part IV: A Place to LiveChapter 11: A Home, Not an InvestmentChapter 12: Boomers Will Need to SellChapter 13: Who Gets Hurt?Part V: Surviving the CrashChapter 14: Into ActionChapter 15: Who Wants to Be a Landlord?Chapter 16: Avoid These MistakesChapter 17: Beyond SurvivalChapter 18: Change Is Needed NowAcknowledgementsBibliographyIndex
Now 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.
