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Tag Archives: housing market
Anatomy of the Housing Downturn in Vancouver, Canada
Anatomy of the Housing Downturn in Vancouver, Canada It’s not pretty. In 2018, “each month has brought weaker than normal sales, rising inventory, and continued downward pressure on prices” in Vancouver, British Columbia, writes Steve Saretsky, a Vancouver Realtor and publisher of real-estate blog, Vancity Condo Guide. The market faces another headwind: “With the Bank […]
The “Nightmare Scenario” For Beijing: 50 Million Chinese Apartments Are Empty
The “Nightmare Scenario” For Beijing: 50 Million Chinese Apartments Are Empty Back in 2017, we explained why the “fate of the world economy is in the hands of China’s housing bubble.” The answer was simple: for the Chinese population, and growing middle class, to keep spending vibrant and borrowing elevated, it had to feel comfortable […]
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition For the past few years, homeowners just about everywhere have been able to finesse life’s problems by thinking “at least my house is going up.” This home equity accretion allowed them to buy stuff on credit, safe in the knowledge that even as they maxed […]
Violence, Public Anger Erupts In China As Home Prices Slide
Violence, Public Anger Erupts In China As Home Prices Slide Last March, we discussed why few things are as important for China’s wealth effect and economy, as its housing bubble market. Specifically, as Deutsche Bank calculated at the time, “in 2016 the rise of property prices boosted household wealth in 37 tier 1 and tier […]
Australia’s Big Banks Raise Mortgage Rates, Sparking Housing Market Fears
Australia’s Big Banks Raise Mortgage Rates, Sparking Housing Market Fears For decades, the housing market in Australia – which has not seen a recession in 27 years – appeared immune to any external or internal shocks, as prices kept rising gingerly year after year. That all changed in the past year, when according to Core […]
Housing Bubble Pops in Sydney & Melbourne, Australia
Housing Bubble Pops in Sydney & Melbourne, Australia And with impeccable timing, an immense flood of new construction. In Sydney, breeding ground for one of the world’s biggest housing bubbles, prices of single-family houses dropped 7.3% in August, compared to a year earlier. Prices of “units” — condos in US lingo — fell 2.2% year-over-year. […]
More Evidence The Economy Is Deteriorating
More Evidence The Economy Is Deteriorating “Financial-market and economic prospects remain far shy of the hype and headlines, amidst tanking consumer optimism and negative revisions to recent reporting.” – John Williams, Shadowstats.com The economy may seem like it’s doing well if you are part of the upper 10% demographic. Though, in reality, for most of […]
So Bloody Predictable: Sydney Ground Zero in Interest-Only Mortgage Implosion
So Bloody Predictable: Sydney Ground Zero in Interest-Only Mortgage Implosion Australia’s housing boom is over. A recession is not far away. It’s “all so bloody predictable” says Australia Macro Business as Western Sydney Ground Zero in Interest-Only Mortgage Bust. Selling agents are starting to reveal the truth behind recent listings in Sydney’s west with Belle […]
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect”
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect” Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that prices would keep rising, held out […]
A Housing Bubble Pops: Update on Australia
A Housing Bubble Pops: Update on Australia It is rare that a housing market makes such a beautifully defined U-turn, after a long hard surge. In Sydney, Australia’s largest housing market and one of the world’s biggest housing bubbles, prices of homes of all types fell 5.4% in July compared to a year ago, and […]
Spending on Housing Dropped 12% in Canada in June
Spending on Housing Dropped 12% in Canada in June The national slowdown was particularly unkind to the province of BC. Canadian housing data continued to disappoint in the month of June. Albeit the year-over-year decline in home sales was not nearly as disappointing as the month of May. National home sales fell 11% year-over-year in […]
Canada’s Housing Market- Ready to implode!
Canada’s Housing Market- Ready to implode! Despite what the mortgage companies and loan-sharks tell you: All’s NOT hunky-dory with the Canadian real estate scene. Even the government, at all levels – Federal, Provincial, Municipal – are trying desperately to put on a brave face on the impending market correction. However, the numbers never lie. Here’s […]
CMHC: 55% Of Toronto And Vancouver Real Estate Buyers Were In A Bidding War
CMHC: 55% Of Toronto And Vancouver Real Estate Buyers Were In A Bidding War Have you ever woke up after a night of drinking, and only had a vague recollection of what happened? Then your responsible friend sets off a chain of text messages, trying to figure out where you went wrong? Well that’s what […]
