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Canadian Housing Edition
Canada's housing market is in the opening phase of a historic collapse. According to the Canadian Real Estate Association (CREA) sales of existing homes dropped 17.4 percent year-over-year in December, while sales in Vancouver plunged an eyewatering 31 percent in the same period. While prices have held firm so far, it's only a matter of... Read More
Canada's Housing Bubble and the New Economic Order
Canada's housing bubble has burst and prices have started to fall. Sales have dipped for 8 straight months as buyer interest has begun to wane. Housing sales in November dropped 12 percent from the same month last year, while previously-hot markets of Vancouver and Toronto saw declines of 28.6% and 16% respectively. Despite the media's... Read More
A Social Counter-Revolution
Sagging prices and droopy home sales in Vancouver have set off alarms across Canada. These are the first signs that the country's overheated real estate market has begun to cool. Homes sales have plunged 33 percent year-over-year, while prices have tagged close behind dropping 11 percent from their peak in April 2011. At the same... Read More
Red Alert in the Great White North
Canada's housing bubble is about to burst, and when it does, hundreds of billions of dollars in equity will be wiped out, unemployment will spike, and the economy will sink into a protracted slump. We know this will happen, because the same scenario unfolded in the US, Japan, Ireland and Spain. Housing bubbles always end... Read More
Harper's Desperate Gambit
On Thursday, Prime Minister Stephen Harper suspended Canada's parliament to avoid a challenge from opposition parties that were planning to oust him from power. The 3-party coalition -- the Liberals, the NDP and the Bloc Quebecois -- decided to remove Harper because of his strong opposition to a stimulus package that was designed to minimize... Read More
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