Canada oil snd dollar drops like a rock economic uncertainty

No manufacturing revival can take place in the country where industrial workers are living in $500k townhouses. Sorry, won’t happen… In order to reinvent itself and become competitive again, Canada must come down the earth, pay for bad decisions we took at the times of plenty, and once and for all, part with an illusion that we can find the way to the prosperity by digging the earth and competing along this path with Namibia, Nigeria, Kazakhstan, Mongolia and Russia. Sorry folks, won’t work.
The real estate will deflate. There is no way around. We already tried easy ways. There are no more left.

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