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Housing Liquidity Crisis Coming: Debt Deflation Follows
Housing Liquidity Crisis Coming: Debt Deflation Follows A liquidity crisis in housing is on the way. Non-banks are at the center of the storm. The Brookings Institute says a Liquidity Crises in the Mortgage Market is on the way. This is in guest post format. What follows are key snips from a 68-page Brookings PDF. […]
Housing Collapse Coming Right Up
Housing Collapse Coming Right Up Mortgage rates are high and rising. Refinancing opportunities are nonexistent; home affordability has collapsed. The latest Black Knight Mortgage Monitor is worth a very close look. Here’s what the report says about the feature chart. Recent rate jumps coupled with climbing home prices have increased the cost to purchase the […]
Home Prices Sink, Sales Plunge in Toronto
Home Prices Sink, Sales Plunge in Toronto Homeowners who bought a year ago are down C$110,000 on average. Home sales in the Greater Toronto Area, Canada’s largest housing market, plunged 35% in February compared to a year ago, to 5,175 homes. The plunge in volume was spread across all types of homes. Even the previously […]
Housing Collapse Coming Right Up
Housing Collapse Coming Right Up Mortgage rates are high and rising. Refinancing opportunities are nonexistent; home affordability has collapsed. The latest Black Knight Mortgage Monitor is worth a very close look. Here’s what the report says about the feature chart. Recent rate jumps coupled with climbing home prices have increased the cost to purchase the […]
The Pricking of the Canadian Real Estate Bubble?
THE PRICKING OF THE CANADIAN REAL ESTATE BUBBLE? First of all, sorry for the lack of posts lately. Long story, but rest assured, I am back on track and the old ‘tourist regular postings have resumed. Next up, today I will write about Canadian real estate. I know, many of you find that about as […]
Canadian Existing Home Sales Crash In January
Canadian Existing Home Sales Crash In January After five straight months of acceleration, January saw Canadian existing home sales crash 14.5% – the biggest drop on record… Home prices rose 2,3% over the past 12 months, but it appears a sudden close-eye on Chinese buyers has hit the market hard as Toronto home sales crashed […]
A Warning Knell From the Housing Market–Inciting a Riot
A WARNING KNELL FROM THE HOUSING MARKET – INCITING A RIOT? Global residential real estate prices continue to rise but momentum is slowing Prices in Russia continue to fall but Australian house prices look set to follow After a decade of QE, real estate will be more sensitive to interest rate increases As anyone who […]
“This Isn’t a Drill” Mortgage Rates Hit Highest Level Since May 2014
“This Isn’t a Drill” Mortgage Rates Hit Highest Level Since May 2014 A housing bust may be just around the corner. Rates have climbed to a level last seen in May of 2014. Mortgage News Daily reports Mortgage Rates Surge to Highest Levels in More Than 3 Years. The chart does not quite show what […]
Rate Squeeze in Vancouver & Toronto Housing Bubbles
Rate Squeeze in Vancouver & Toronto Housing Bubbles Variable-rate mortgages, the HELOC phenomenon, and new stress tests meet higher rates. The Bank of Canada raised interest rates another 25 basis points last week. It was the third time in the past six months. Rates have more than doubled in that time, going from 0.50% to […]
Stephen Poloz Right To Be Worried
Stephen Poloz Right To Be Worried Bank of Canada governor Stephen Poloz cited numerous worries plaguing the economy during his speech to Toronto’s financial elites yesterday at the prestigious Canadian Club. However, the title of Poloz’s presentation, “Three things keeping me awake at night” seemed odd, given positive recent Canadian employment, GDP and other data. […]
Swedish Housing Bubble Pops As Stockholm Apartment Prices Crash Most Since June 2009
Swedish Housing Bubble Pops As Stockholm Apartment Prices Crash Most Since June 2009 Even though Sweden’s property bubble is not the longest running (that accolade goes to Australia at 55 years), it is probably the world’s biggest with prices up roughly 6-fold since starting its meteoric rise in 1995. Of course, as we noted last […]
Canada Home Values Hit “First Quarterly Decline since Q1 2009” as Household Debt Binge Hits New High
Canada Home Values Hit “First Quarterly Decline since Q1 2009” as Household Debt Binge Hits New High How exposed are over-indebted household to rising interest rates? Household debt in Canada rose to a new record of C$2.11 trillion in the third quarter 2017, up 5.2% from a year ago and up 10.7% from two years […]
Second Cockroach: Canadian Mortgage Lender Crashes After Admitting Mortgage Fraud
Second Cockroach: Canadian Mortgage Lender Crashes After Admitting Mortgage Fraud Back in April/May, Canada’s biggest mortgage lender, Home Capital Group, crashed its way into the headlines, coming clean over its balance sheet-full of liar loans, suffered a bank run, and was forced to take emergency liquidty from taxpaying pensioners, and was eventually bailed out by […]
Australian Banks – First The Housing Bubble Bursts, Now A Public Inquiry
Australian Banks – First The Housing Bubble Bursts, Now A Public Inquiry We keep returning to the subject of Australia and the growing signs that its bubble economy is bursting. Earlier this month, we discussedhow the world’s longest-running bull market – 55 years – in Australian house prices appears to have come to an end. […]
