If you’re a property owner, or are considering buying or selling property, this information may be useful to you – it might also scare the living daylights out of you.

In short, this information reveals what I have suspected, and known, just from my own (layman’s) observations.

It proves that the values we juggle when talking about real estate are oftentimes anything but a true reflection of reality. (Not unlike share prices of companies, which aren’t a true picture of a company’s true standing and success.)

As the article explains, many Canadians have refinanced their homes for a total of $30 billion in the last year alone. That’s scary, especially considering that these weren’t really based on reliable, actual, real estate values.

Can you say, “A house of cards?”

All I can say after reading this is that I’m glad not to be a property owner anymore – I left that part of my life behind just in time, it seems.