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China Unveils A Housing Market Bailout: Here’s What’s In It, And Why It Is Still Not Enough
China Unveils A Housing Market Bailout: Here’s What’s In It, And Why It Is Still Not Enough More than four years ago, when China first launched its latest “deleveraging” campaign targeted at bursting the country’s housing bubble in a controlled fashion, which coincidentally was the single largest asset for China’s massive middle class, we – and many […]
China Housing Market Is On Life Support
China Housing Market Is On Life Support We must understand the housing market in China to fully comprehend how wealth is stored by many people in China. To those looking in from the outside, the housing market in China appears a house of cards ready to collapse at any minute. It is also a market […]
Here’s Why the Housing Market Has Gone from Overheated to Raging Inferno
Here’s Why the Housing Market Has Gone from Overheated to Raging Inferno Image credit: Creative Commons (CC0) The housing market is on the verge of spinning out of control. Just about everything that could be going wrong is going wrong. The only holdout for the moment is home prices, which are up an astonishing 22.5% just this year. For many […]
“Catastrophic” Property Sales Mean China’s Worst Case Scenario Is Now In Play
“Catastrophic” Property Sales Mean China’s Worst Case Scenario Is Now In Play No matter how the Evergrande drama plays out – whether it culminates with an uncontrolled, chaotic default and/or distressed asset sale liquidation, a controlled restructuring where bondholders get some compensation, or with Beijing blinking and bailing out the core pillar of China’s housing […]
The Taper Next Door: Bank of Canada Cuts Bond Purchases by 25%. Total Assets Drop by 13%. Rate Hikes Moved Forward, Possibly July 2022
The Taper Next Door: Bank of Canada Cuts Bond Purchases by 25%. Total Assets Drop by 13%. Rate Hikes Moved Forward, Possibly July 2022 Housing craziness is front and center. The Bank of Canada, which already holds over 40% of all outstanding Government of Canada (GoC) bonds – compared to the Fed, which holds less than 18% […]
The Most Splendid Housing Bubbles in Canada Deflate Further
The Most Splendid Housing Bubbles in Canada Deflate Further Vancouver prices drop. Toronto down 3.7% from peak, flat for 10 months. Winnipeg plunges most since at least 1990. Quebec City flat for 6 years. In Greater Vancouver, BC, Canada, house prices fell 0.4% in April from March, the ninth month in a row of month-to-month […]
“Ghastly” Vancouver Home Sales Crash By 33%, Lowest Since 1985
“Ghastly” Vancouver Home Sales Crash By 33%, Lowest Since 1985 On Monday, the Real Estate Board of Greater Vancouver reported February results that could be classified as ghastly, with residential home sales plummeting 32.8% year-over-year to 1,484 units. That’s the lowest February sales total since 1985 and 42.5% below the 10-year average. Prices have also broken […]
2019: The Beginning Of The End (Free Premium Report)
2019: The Beginning Of The End (Free Premium Report) What will happen next & what to do now Welcome to our new readers and a very Happy New Year to everyone! Now that it’s 2019, we’re going to start the new year here at Peak Prosperity by responding to the wishes of our premium subscribers […]
2018 Year in Review
2018 Year in Review The year everything changed Every year, friend-of-the-site David Collum writes a detailed “Year in Review” synopsis full of keen perspective and plenty of wit. This year’s is no exception. As with past years, he has graciously selected PeakProsperity.com as the site where it will be published in full. It’s quite longer than our usual […]
Toronto Home Prices Just Plunged At A Rate Not Seen Since 1996
Toronto Home Prices Just Plunged At A Rate Not Seen Since 1996 A seismic shift is currently underway in the Toronto real estate market which may have finally pricked Canada’s biggest bubble. In October, home prices plunged at the fastest pace in more than two decades, according to new data published by Statistics Canada. Statistics Canada’s Price Index for new […]
Australia’s House of Cards is Collapsing: Recession Coming Up
Australia’s House of Cards is Collapsing: Recession Coming Up Australia’s housing collapse is now in full swing. A recession will follow shortly. Inga Ting, Geoff Thompson and Alex McDonald provide and excellent set of graphics and information on the bursting of Australia’s housing bubble at House of Cards. Home prices in more than four out […]
Vancouver Home Prices Turn Negative, First Time Since 2013
Vancouver Home Prices Turn Negative, First Time Since 2013 The sudden shift in the Vancouver housing market has been well documented. In November, home sales across all property types sank to a ten year low for the month. The drop is rather unprecedented considering the current economic backdrop suggests unemployment across Canada has plunged to […]
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Bank
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Bank “The authorities should prepare contingency plans.” The big four banks are too exposed to mortgages. Even if the banks don’t topple, the economy will get hit hard. In its latest report on Australia, the OECD focuses to a […]
Competing Mortgage Headlines: Rates Barely Move vs Rates Surge Lower on Powell
Competing Mortgage Headlines: Rates Barely Move vs Rates Surge Lower on Powell Freddie Mac says “mortgage rates barely move” but Mortgage News Daily says “rates surge lower” Mortgage News Daily and Freddie Mac offer conflicting reports on the bond market reaction Jerome Powell’s speech yesterday. Mortgage News Daily says Mortgage Rates Surge Lower Mortgage rates […]
Bank Of Canada To Start Buying Mortgage Bonds As Canadian Housing Market Cools
Bank Of Canada To Start Buying Mortgage Bonds As Canadian Housing Market Cools Ten years ago this week, the Federal Reserve announced it would start buying agency MBS. Asset purchases are now arguably a standard non-standard monetary policy tool, as all three major central banks have since embarked in some form of asset purchases, and […]
