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Tag Archives: Housing Bubble
Dear Fed, It’s Not “Really Hard to Spot Bubbles”
Dear Fed, It’s Not “Really Hard to Spot Bubbles” Here are some visual aids to help the Fed spot the housing bubble. Minneapolis Fed President Neel Kashkari was the latest Fed official to claim in an essay – thus following in the time-honored footsteps of former Fed Chair Ben Bernanke – that “spotting bubbles is […]
Sorry Vancouver, But Toronto Is The King Of Risky Mortgage Debt
Sorry Vancouver, But Toronto Is The King Of Risky Mortgage Debt Canadian real estate values continue to soar, and a record number of buyers are piling into risky loans. According to the Bank of Canada (BoC), and the Ministry of Finance (MoF), high ratio mortgage borrowers are extending themselves to the limit. While we covered […]
Panic Bank Run Leaves Canada’s Largest Alternative Mortgage Lender On Edge Of Collapse
Panic Bank Run Leaves Canada’s Largest Alternative Mortgage Lender On Edge Of Collapse After two years of recurring warnings (both on this website and elsewhere) that Canada’s largest alternative (i.e., non-bank) mortgage lender is fundamentally insolvent, kept alive only courtesy of the Canadian housing bubble which until last week had managed to lift all boats, […]
Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History
Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History Call it Canada’s “New Century” moment. We first introduced readers to the company we said was the “tip of the iceberg in Canada’s magnificent housing bubble” nearly two years ago, in July 2015 when we exposed a major problem that we predicted […]
So China’s Authorities Crack Down on Housing Speculation?
So China’s Authorities Crack Down on Housing Speculation? Who’s Behind China’s Wild House Price Bubble? State-Owned Property Developers, Funded by State-Owned Banks. Beijing’s municipal government summoned representatives of state-owned property developers on Monday and told them to stop hyping the already overheated housing market, according to the portal, Chinese Real Estate Business (CREB), cited by […]
“Canada: Irrational Exuberance?” Wild Housing Speculation Drives Entire Economy
“Canada: Irrational Exuberance?” Wild Housing Speculation Drives Entire Economy Everyone is afraid of breaking the addiction. Here’s another data point on the Canadian housing bubble, how immense it really is, and how utterly crucial wild housing speculation has become to the Canadian economy. Housing starts surged to 253,720 units in March seasonally adjusted, the highest […]
Toronto House Price Bubble Goes Nuts
Toronto House Price Bubble Goes Nuts Based on fundamentals? You gotta be kidding. Residential property sales in Greater Toronto soared 17.7% year-over-year to 12,077 homes, according to the Toronto Real Estate Board (TREB). New listings jumped 15.2% to 17,052. Prices for all types of homes, based on the MLS Home Price Index Composite “Benchmark,” soared […]
Housing Bubble in Sydney Soars to New High, Politicians Promote Scheme to Bitter End
Housing Bubble in Sydney Soars to New High, Politicians Promote Scheme to Bitter End “Buy property in Sydney and you’re ‘pretty well set for life’”: Government to first-time buyers. How far can a desperate government go to keep the whole overleveraged edifice of a housing bubble from tumbling down and doing God-knows-what to the economy […]
Our Economies Run On Housing Bubbles
Our Economies Run On Housing Bubbles Rene Magritte Memory 1948We are witnessing the demise of the world’s two largest economic power blocks, the US and EU. Given deteriorating economic conditions on both sides of the Atlantic, which have been playing out for many years but were so far largely kept hidden from view by unprecedented […]
“This Is Going To Blow Sky High” – Observations On Canada’s Housing Market
“This Is Going To Blow Sky High” – Observations On Canada’s Housing Market For months we’ve been warning about real estate bubbles re-emerging in various markets around the world from Canada to Australia (see “There Are 66,719 Empty Mansions In Vancouver” and “Vancouver Home Sales Crash 40%, As Toronto Home Prices Soar 22%“). And while […]
There’s No Plateau in a Housing Bubble, Not Even in Canada
There’s No Plateau in a Housing Bubble, Not Even in Canada Vancouver in turmoil, Toronto spikes. Canadian house prices jumped 11.7% in September from a year ago, according to The Teranet–National Bank National Composite House Price Index released today. But the index papers beautifully over the dynamics in each metro. In six of the 11 […]
Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole
Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole In a move which many Canadians, especially those who have been persistently priced out of the housing market, welcomed with open arms, overnight Finance Minister Bill Morneau unveiled new measures aimed at slowing the flood of foreign money pouring into overheated housing markets like Vancouver and […]
Canadian Housing Bubble, Debt Stir Financial Crisis Fears
Canadian Housing Bubble, Debt Stir Financial Crisis Fears Their bone-chilling chart. Everyone is fretting about the Canadian house price bubble and the mountain of debt it generates – from the IMF on down to the regular Canadian. Now even the Bank for International Settlement (BIS) and the Organization for Economic Co-operation and Development (OECD) warn about […]
Fear Spreads of a Housing Crash in Canada
Fear Spreads of a Housing Crash in Canada More Canadians sour on their Magnificent Housing Bubble. Canadians have been gung-ho about their magnificent housing bubble, feeding it with an endless willingness to pay every higher prices, even as regulators and international institutions issued warnings, as short sellers began circling, as subprime liar-loan scandals made their reappearance, and […]
Please Don’t Pop My Bubble!
Please Don’t Pop My Bubble! So ride your bubble of choice up–stocks, bonds, housing, bat guano, take your pick–but it’s best to keep your thumb on the sell button. One person’s bubble is another person’s “fair market value.” What is clearly an outrageously overvalued asset perched at nosebleed levels of central-bank fueled speculative euphoria is to […]
