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Tag Archives: Canada

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,...

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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...

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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...

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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...

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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...

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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...

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The State of the Canadian Debt Slaves, and How They Compare to the American Debt Slaves

This, despite still ultra-low interest rates and the highest disposable income ever. Canadian households are known around the world for their uncanny ability to pile on debt. And American debt slaves, who’d gotten trampled during the Great Recession, turn out to be lackadaisical these days in comparison. The share of disposable income (total incomes from all sources minus taxes) that Canadian households spent on making principal and interest payments on their ballooning mortgage debts...

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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 declines, according to the Teranet-National Bank House Price Index. The index is down 4.7% from the peak in July 2018, the sharpest nine-month decline since July 2009. And it’s down 2.8% from April last year. One of the most...

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Boeing, Airbus Carve up Embraer & Bombardier, Chinese Aircraft Makers Still Learning the Ropes

Aircraft manufacturing consolidates. By MC01, a frequent commenter, for WOLF STREET: After a series of legal battles and political complications, it seems Boeing will finally be allowed to take control of Embraer’s commercial aircraft division. Boeing will pay $4.2 billion for an 80% share in the division. It will also have to finance a 51/49 minority joint venture with Embraer to help market the KC390 military transport aircraft outside of Brazil. The deal is still pending, waiting...

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Money Laundering Provided 1 in 20 Dollars for Real Estate in B.C., Canada

“More than C$7 billion in dirty money was laundered in B.C. in 2018, hiking the cost of buying a home by about 5%, according to British Columbia’s Expert Panel on Money Laundering in Real Estate.” By Stephen Punwasi, Better Dwelling: Canadian real estate is a giant washing machine, confirms the British Columbia government. The province’s Attorney General office released a new report yesterday. The report estimates the amount of laundered cash in the real estate market to be in the...

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