Bank of England boss Mervyn King gave his farewell speech yesterday. He was putting a brave face on the economy, no doubt with his legacy in mind. But now all eyes are on his successor, Mark Carney, who takes over from July. One reason Carney was picked is because he ‘saved’ Canada from recession as […]
Families’ debt worsened; housing bubble burst inevitable?
Here are some of the two cents by economy gurus: – Canadian families’ debt worse than expected; housing bubble burst feared Debt picture ‘eerily similar to the U.S. experience, just before their dramatic housing bust’ The revisions place household credit market debt in the second quarter at 163 per cent of disposable income, well above […]
Canada’s Reckless Banks Inflate House Price Bubble
Time to rein them in, five years after taxpayers saved their assets. By Murray Dobbin The whole issue of the housing bubble, its extent and whether there will be a soft landing as predicted by many wishful thinkers, has resulted in many interesting headlines in recent weeks — including some high on the delusional scale. One […]
All You Need To Know About Canada’s Housing Bubble
Two Charts: All You Need To Know About Canada’s Housing Bubble First chart: Income and House prices Second chart: Canada’s Household Debt to GDP Ratio Study and compare. Note cause of our bubble. Any more questions? [sources: First Chart from Alexandre Pestov’s ‘The Elusive Canadian Housing Bubble’, Summer 2010 edition, July 2010; Second Chart adapted from […]
Go ahead, pay over asking, it’s no big deal
Bidding Wars: Housing gone crazy Naive Toronto buyers think Hamilton prices are super, and are bumping up costs in surprising areas By Meredith MacLeod Hamiltonians are hanging on to their homes while out-of-towners are flocking to move in. There is an overall shortage of real estate listings in Hamilton, combined with strong demand in certain […]
Canada’s housing crash begins
By Joe Castaldo In just one year, Vancouver house prices have dropped by 12%, and unit sales are plummeting in both Vancouver and Toronto. Here’s how we see the housing meltdown will evolve in the coming months. Last spring, Keith Roy noticed his phone wasn’t ringing so often. The Vancouver real estate agent typically booked at […]