Register | Forgot Your Password? | Close

PHOENIX -- A potential Canadian real estate bubble will not hurt the Valley's housing market, a local Realtor said.

"The only effect I could see of a Canadian housing bubble popping is people unloading their property here for cash," said Diane Brennan, co-host of KTAR's That Real Estate Show. "But we're in a buyer's market anyway so buyers would purchase those properties."

Some economic analysts say the Canadian housing bubble could pop, while others say it's just simply not going to happen. Canadian investors were a huge reason why the Valley's real estate market recovered because they bought up many of the empty homes.

Brennan said rumors of Canada's housing market potentially tanking have been swirling around for a couple of years and those rumors are fueled by a weakening Canadian dollar.

"I just had a Canadian couple cancel their offer on a Valley home because the Canadian dollar took a dive,"

Speculation of a potential Canadian housing crash picked up with Canada's December jobless jump to 7.2 percent, which is higher than the United States' 6.7 percent.

Jim Cross, Reporter

share this story:
Attention Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.
  • CopperPoint Mutual Insurance Company

    SCF Arizona has a new name. They are now CopperPoint Mutual Insurance Company.
  • Taylor Morrison

    World Class People. World Class Company. We are a national home builder committed to building homes inspired by you.
  • Go Daddy

    World Class People. World Class Company. Go Daddy is a Fortune 100 "Best Companies to Work For."
  • Avnet

    World Class People. World Class Company. Here's information on a Fortune 500 company from Arizona.

Voice For A Better Arizona

  • Working For Arizona

    The business and economics of Arizona at the start of 2014 and looking forward.
  • Arizonans In Need

    Putting a focus on charities and organizations who provide help and/or need your help to fulfill their missions.