Monday , December 9 2019
Home / Tag Archives: Canada

Tag Archives: Canada

Canada’s Most Splendid Housing Bubbles v. Its Other Markets, October Update

Vancouver has tiny uptick after 14 declines. Toronto dips below July 2017 peak. Victoria ekes out new high. Calgary, Edmonton stuck below oil-boom peaks years ago. Quebec City flat for 6 years. Montreal ticks down from high. Ottawa ekes out new high but remains low. House prices in Greater Vancouver ticked up 0.2% in October from September, the first monthly increase after 14 month-to-month declines in a row. Prices were down 7.3% from the peak last July, and down 6.2% from October...

Read More »

The bubble in phony bubble calls

Bubbles don’t exist. But that doesn’t stop people from seeing them. In 2015, I predicted that the 21st century would see an unprecedented number of bubble claims, due to the fact that people have trouble accepting the fact that low real interest rates imply high P/E ratios. A few years ago, many people claimed the Canadian housing “bubble” was bursting.  This Business Insider headline discussing Canadian housing is from June 2016: ‘This is a bubble. A very big bubble....

Read More »

Making Canada Great for the first time

Canada has always been a rather successful country by global standards, with relatively high living standards, good human rights, lots of green space, not much civic strife, and other nice features. Canada is nice. Now for the first time, Canada has a chance to become great: Behind the robust health are data showing Canada transitioning to a technology juggernaut from a country defined by its dependence on fossil fuels. While the government continues to subsidize...

Read More »

Canada’s Most Splendid Housing Bubbles v. its Other Markets, September Update

Vancouver house price bubble deflates 14th month in a row. Toronto matches 2017 peak. Calgary, Edmonton beaten up by oil bust. Quebec City flat for 6 years. Montreal, Ottawa hit new highs. House prices in Greater Vancouver – in its glory days not too long ago, one of the world’s hottest housing bubbles – dropped another 0.5% in September compared to August, the 14th month-to-month decline in a row, and were down 7.4% from the peak last July, according to the Teranet-National Bank...

Read More »

Canada’s Most Splendid Housing Bubbles, August Update: Vancouver Spirals Lower

House prices in Toronto still below 2017 peak. Montreal, Ottawa hit new highs. Quebec City about flat with Jun 2013. Edmonton back to Oct 2007. Calgary rises to March 2014 level. House prices in Canada, as tracked by the Teranet-National Bank National House Price Index, have more than tripled (+204%) since January 2002. But in August, they ticked up only 0.6% from August last year, the weakest year-over-year increase since October 2009.  The biggest drag was the market in Vancouver,...

Read More »

Canada’s Most Splendid Housing Bubbles, July Update

Vancouver sags. Calgary, Edmonton down from many years ago. Toronto rises but below 2017 peak. Montreal, Ottawa at new highs. July is seasonally a strong month in the Canadian housing market, as tracked by the Teranet–National Bank National House Price Index. Over the past 21 years, the composite index for the metros has risen on average 1% from June to July due to seasonal pressures. This year it only rose 0.7%. On a seasonally adjusted basis, the composite index declined in July by...

Read More »

Animated chart of the day: Shares of total trade with the US, 1992 to 2019 – Publications – AEI

AEI Animated chart of the day: Shares of total trade with the US, 1992 to 2019 My latest animated “bar chart race” visualization appears above showing the share of total trade (exports + imports) with the US for America’s top five trading partners: Canada, Japan, Mexico, China and Germany, annually from 1992 to 2018  and for the first half of 2019. The visualization was inspired by an article on the front page of today’s Wall Street Journal “Tariff Fight Knocks...

Read More »

Canada’s Most Splendid Housing Bubbles, June Update

Oh dear, Vancouver, Calgary, Edmonton, and Winnipeg. But there are some warm-spots too. June is generally a strong month for house prices in Canada, according to the Teranet-National Bank House Price Index. But this June, the index rose only 0.8% from May, compared to an average June increase of 1.2%. Once those “seasonal pressures” are removed from the index via seasonal adjustments, “the composite index would have retreated 0.4% in May and 0.5% in June,” the report said. Particular...

Read More »

Update on the Worsening Housing Bust in Vancouver, Canada: Spring Hopes Got Crushed

But it’s curing a housing crisis where middle-class households are priced out of a market, inflated by rampant international speculation and large-scale money laundering, says BC’s Finance Minister. In the City of Vancouver, BC, Canada, condo sales in June plunged 28% from the already weak June last year to just 343 units. Inventory for sale jumped 32%. Prices – however you slice them – follow volume and supply: The median price fell 10% to C$656,000. The average price-per-square-foot...

Read More »

The Most Splendid Housing Bubbles in Canada, May Update

Vancouver housing bubble sags. Toronto down 3.4% from peak. Calgary and Edmonton back to 2007. Montreal sets new record. National index ticks up the least for any May in 21 years of data. Home prices across major metros in Canada ticked up 0.5% in May from the prior month, the slowest rise for any May in the 21-year history of the Teranet-National Bank House Price Index. “If seasonally adjusted, the index would have been down 0.4% on the month,” the report said. But real estate is...

Read More »