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Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession
Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession Another month, and another confirmation that China’s hard landing is if not here, then likely mere months away. Overnight, the NBS reported that in March, Chinese house prices dropped in 69 of 70 cities compared to a year ago. According […]
Magnificent Housing Bubble Unravels in Much of Canada
Magnificent Housing Bubble Unravels in Much of Canada Canada’s housing bubble, which has been so much more magnificent than anything the US was ever able to conjure up, notched another gain in March, according to the Teranet-National Bank House Price Index, which rose 0.3% for the month. Prices were up in eight of the metropolitan […]
Canada Housing, Office Market Mauled by Oil, Layoffs – but Vancouver Bubble Still Soars
Canada Housing, Office Market Mauled by Oil, Layoffs – but Vancouver Bubble Still Soars Back in December, the Bank of Canada said home prices were overvalued by as much as 30% and posed an “elevated” risk to the Canadian financial system. In January, Deutsche Bank found that Canada’s housing market was, more realistically, 63% overvalued. In greater […]
‘Corrections In Progress’ In Most Canadian Housing Markets: Teranet
‘Corrections In Progress’ In Most Canadian Housing Markets: Teranet House prices fell in February in eight of 11 major housing markets measured by the Teranet/National Bank House Price Index. “In some markets there have clearly been corrections in progress,” National Bank senior economist Marc Pinsonneault said in a statement. “The monthly retreat in Calgary was the […]
Housing Industry Frets About the Next Brick to Drop
Housing Industry Frets About the Next Brick to Drop Cashing out of the “Bet on America” might get messy. Stephen Schwarzman, CEO and co-founder of Blackstone Group, the world’s largest private-equity firm with $290 billion in assets under management, made $690 million for 2014 via a mix of dividends, compensation, and fund payouts, according to a regulatory […]
Housing Crash in China Steeper than in Pre-Lehman America
Housing Crash in China Steeper than in Pre-Lehman America China has long frustrated the hard-landing watchers – or any-landing watchers, for that matter – who’ve diligently put two and two together and rationally expected to be right. They see the supply glut in housing, after years of malinvestment. They see that unoccupied homes are considered […]
Canada housing agency sees moderation in housing starts in 2015
Canada housing agency sees moderation in housing starts in 2015 OTTAWA (Reuters) – Canada’s federal housing agency softened its forecast for housing starts in 2015, saying it expects the pace of new home construction to gradually moderate in the coming years. Although the Canada Mortgage and Housing Corp said on Friday it expects employment and disposable […]
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF Canada’s housing markets will cool this year, leading to a more “balanced” economy — one that is not as dependent on growing consumer debt, the International Monetary Fund says. In a report released Friday, the IMF estimated house prices are overvalued by 7 to 20 per […]
Norway Regulator Fears Housing Bubble “Isn’t Sustainable”
Norway Regulator Fears Housing Bubble “Isn’t Sustainable” Amid the collapse in crude oil prices, the Norwegian central bank cut rates in December (after 1000 days on hold) and is likely to cut again as economic growth stalls. However, the country’s financial regulator iswarning falling interest rates risk pushing the Norwegian housing market beyond its breaking […]
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down Five years ago, I noted how unsustainable Canadian economic growth is fuelled by debt, which is leveraged to increase the prices–and ‘profitability’–of assets like oil holdings and real estate. It might as well be called “phantom growth,” because it’s bound to disappear […]
Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years
Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years For the 2nd month in a row, home prices in Calgary – corporate hub of Canada’s oil industry – have fallen. This is the biggest 2-month-drop in almost 2 years (and comes on the heels of yesterday’s news that Suncor is slashing jobs and capex). As Bloomberg […]
Overvalued housing prices and how to read them: Don Pittis
Overvalued housing prices and how to read them: Don Pittis I was reading about baseball cards over the Christmas holidays and it made me think of Canadian houses. From the Bank of Canada’s warning to last week’s devastating analysis from Germany’s Deutsche Bank that claimed a 63 per cent overvaluation, it seems we are being told once […]
‘Canada Is In Serious Trouble’ As Debt, House Prices Climb, Deutsche Bank Declares
‘Canada Is In Serious Trouble’ As Debt, House Prices Climb, Deutsche Bank Declares It was little more than a year ago that Deutsche Bank declared Canada’s housing market to be the most overvalued in the world, and on Thursday the German-based bank doubled down on its bearish assessment of Canada. Residential real estate in Canada is overvalued […]
Prepare for Property Prices to Fall in U.S. and Globally
Prepare for Property Prices to Fall in U.S. and Globally At the start of the New Year, there are increasing signs that the recovery seen in property prices in many cities in western countries — namely New York and other U.S. cities, and Dublin, London and other UK cities — is beginning to peter out. Many cities […]
