Kaboom

“More and more net worth is being shovelled into a single asset by mobs of people convinced they’ll get rich selling each other houses.”

Bet against canadian housing

Many American hedge funds are short Canadian housing market. These are the same guys who profited off the US housing crash and now bet billions against the Canadian housing bubble

interest rates ont the rise

Canadian rates are on the move while American rates have swollen like a donkey in love. Thirty-year home loans just popped from 3.9% to almost 4.5%, for the biggest one-week increase in 26 years,

housing stats canada 2013

since 2009,about 1,600,000 homes have sold in Canada since they collapsed as part of the emergency measures to save us from shooting squirrels and going Mad Max.

Price reductions vancouver real estate news

SFU condos are not doing very well. Just got an email from Condoday.ca (Key Marketing) that they are slashing prices “for tomorrow only” on “Altitude” development by up to $60k or by around 10%. Per them, “This is your chance to own a concrete home in Burnaby for as little as $425 per sq.ft. Plus maintenance bahaa overpriced

Houshold debt to income ratio graph 2013

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More Bearish tones for the canadian housing

Scotiabank capped off the week with a sour note for homeowners, saying: “we expect increased downward pressure on prices in the latter half of the year and into 2014

Prices down

Hold on vancouver home prices down 3.9% this march 2013. Watching closely as this spring market will be a big data point for sentiment which seems to be turning ....as people see languishing for sale signs dot the city.

Real estate sales burnaby

Burnaby real estate sales counts 2010-2013

Downtown vancouver condos value plummets

“As Vancouver’s condo market plummets, former prime minister Kim Campbell is suing a developer in an effort to get out of her pre-sale contract for a $1.8-million downtown condo.

Richmond price drops

“news from the trench…7940 Gabriola Crescent, Richmond:
Sold January 19, 2011 $990,000
Sold April 26, 2011 $1,130,000
Sold Feb 21, 2013 $898,000″

Cmhc repos

The Canada Mortgage and Housing Corporation (CMHC) has stated that real estate brokers should not indicate that the property is a repossession. We inquired with the CMHC, and they informed us that this publication rule stems from a national policy that applies to all Canadian provinces. - - See more at: http://www.greaterfool.ca/2013/02/27/oh-canada/#comments

How high housing prices hurt us.

Instead, we were given a decade of doubling housing prices which predictably sucked the spending power from the average consumer’s budget and off-shored hundreds of thousands of jobs to countries whose citizens don’t require high wages for half-million dollar bungalows.

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Richmond house prices down

“Further erosion in home prices in Richmond for 2013 can be expected as poor market sentiment is working against a housing market recovery in Richmond.”

All in on housing

Today we have a bizarre situation. Over 70% of people have no pension, but 70% of people own real estate. How is that supposed to work?

Canadian housing market in retreat

Friday’s deeply disappointing Canadian housing starts numbers, on the back of Thursday’s drastically declining building permits numbers, paint a picture of a housing market in rapid retreat. But what’s more, they represent a massive obstacle to a recovery in Canada’s tepid economic growth.

Canadian real estate declines

Love those headlines:

National Post:”Vancouver home sales continue downward spiral”

http://business.financialpost.com/2013/02/04/vancouver-home-sales-continue-downward-spiral/?__lsa=8c51-91b2

Wall Street Journal: “Vancouver’s Housing Market Felt the Chill in January”

http://blogs.wsj.com/canadarealtime/2013/02/04/vancouvers-housing-market-felt-the-chill-in-january/?mod=google_news_blog

The Biggest Housing Bubble in the World Is in ... Canada? - The Atlantic

The Biggest Housing Bubble in the World Is in ... Canada? - The Atlantic

Vancouver bc prices lower

http://vancouvercondo.info/2013/01/vancouver-prices-lower-than-last-year.html