The Bank of Canada recently released its December "Financial System Review". It highlights some concerns about Canadian household finances and housing prices. However, it mostly down plays the housing concerns in typical central banker speak.
"In Canada, the elevated levels of household debt and housing prices require continued vigilance and close co-operation among Canadian authorities."
"Some measures of housing affordability suggest continued imbalances, owing to the robust performance of this market. In particular, house prices remain very high relative to income (Chart 26). Since the adverse impact of elevated residential property prices on affordability has been largely offset by low interest rates, affordability would be considerably curtailed if interest rates were closer to historical norms (Chart 27).
Certain areas of the national housing market may be more vulnerable to price declines, particularly the multiple-unit segment of the market, which is showing signs of disequilibrium: the supply of completed but unoccupied condominiums is elevated, which suggests a heightened risk of a correction in this market."Gee, where does that 3rd paragraph sound familiar (see around the 1:20 mark in the below video, although the whole thing is classic.). Obviously, in the US, it was more then the condo market and it will be in Canada too. Although, Vancouver will be Canada's version of Miami.
Then of course we have China. What more can be said about China's pending disaster. We had all seen the videos of China ghost cities and malls. Of course the deniers are still in full force claiming that China's centrally planned economic structure has everything under control.......until reality becomes undeniable. The question is not whether it will burst, but how long the Chinese government can prop it up. Some of the ghost cities are already being hit such as China's city of Ordos which is discussed below. More pictures of China's out of control building can be seen here.
And as Reuters recently reported:
"After a housing bubble that doubled values in 35 cities between 2004 and 2009, prices are now falling nationwide. The central bank said on Friday property prices had reached a turning point while banks are worried a price slide of 20 percent could trigger panic selling."
"But prices in Ordos have already fallen below the level that analysts say would cause serious problems if mirrored nationally.
Prices have plummeted 20-30 percent in certain property developments in Beijing and Shanghai.
Nationwide, the decline is so far more modest. Home prices fell slightly in October from September for the first time this year, official data showed, but private surveys indicated prices began falling in September and continued through November.
With local governments often dependent on land sales to fund payments on a staggering 10.7 trillion yuan (1.1 trillion pounds) of debt, Beijing worries that a collapsing property market will trigger a wave of defaults that in turn will hit the banks."
"In Ordos, the government announced a bailout fund of between 7.5 billion and 10 billion yuan to support its beleaguered developers.
Still, that may not be enough. A commercial real estate agent, who only gave his surname Li, said that despite the government actions he was planning to return to his native Guangdong Province after six unsuccessful months in Kangbashi.
"There isn't much commercial real estate here. You need private businesses for that, and here it's all government money."The shock to natural resource demand from a China real estate bust is what will really bring the Australian and Canadian markets back to reality quickly. After all, its CaCA, a big interconnected mess!
EXCELLENT POST!!! GREED IS THE NAME OF THE GAME. IF PEOPLE DON'T LEARN FROM THEIR HISTORY THEY ARE DOOMED TO REPEAT IT!
ReplyDeleteexcellent shared information. I agree with one of the comment, GREEDINESS is the the idea on this. graphic design maryborough
ReplyDeleteWe have to ensure that we keep doing what we know is effective on our business. Make sure that we continue doing things right for our business to improve. Continue doing the right things and make sure that we accomplish what we have in mind regarding Real Estate Investing.
ReplyDeletehttp://property-investments-australia.blogspot.com/2013/05/investment-in-real-estate.html
From general startup issues like the above (probably a dead power supply or bad switch – or maybe the cord got pulled out) to things like dead disk drives, bad wireless network connections, setting up wireless networks or even just helping you navigate through the new Windows 8 interface you’ve been dreading – calling Lizard webs laptop repair in Raleigh is a great step towards making that day a super one again. That Windows 8 interface? Check it out here at managed IT services
ReplyDeletei was talking about this webpage for free brave frontier hacks and other secrets tool .click at the same link to grab free gems and coin online.
ReplyDeletepest control services in delhi
ReplyDeleteAuto CAD training institute in Delhi
ReplyDeleteautocad training institute in Uttam Nagar
for AutoCAD Training
Best Catia tranning institute in Delhi NCR
Best catia tranning institute in uttam nager
CCTV Camera
ReplyDeletecp plus camera
cp plus camera online
CP Plus security system
CP Plus surveillance Camera
Security CCTV Camera
CCTV Camera Installation
CCTV Camera
CP Plus CCTV services
CCTV Camera for home
Libraries in Paris are an architectural landmark. Read a book, or spend hours walking around these beautiful buildings and paying close attention to every single interior and exterior detail.
ReplyDeleteif you want more just look here "write an essay fast"
what to know about hair follicle drug tests? A hair follicle drug test, also known as a hair drug test, screens for illicit drug use and the misuse of prescription medication.
ReplyDeleteWe provide top reviews of the latest shower filters ,Water filters and top shower heads. See Our website for top quality shower information .
ReplyDeleteif you want more just look here "waterfall showerheads"
The number 1 online football betting website UFABET is the most popular service in Thailand. Official, online sports betting and all types of casinos. The entrance to UFABET can be played through the website or on the mobile phone. Iphone (iPhone) or Android (Android), which has a safe and professional, reliable and With standards to support Online football betting Through the internet and online casinos that have a variety of games to choose from to play.
ReplyDelete8 Ball Pool, an online multiplayer game, which was propelled in 2010, is the top netting game on Google PlayStore and IOS Appstore. It offers players a vivid gaming experience on their gadgets. At first the game was discharged for PC just, however later it was presented on cell phones.
ReplyDeleteEver thought of getting financially free in your life?
ReplyDelete.
There are so many options available in the market which will promise you to become financially free. However, they aren't ethical ways to get to the destination.
.
Well, you can get financially free in your life by playing games on UFABET and win big prizes. Visit the link and register and start gambling on your favorite sports like Football, Volleyball, and more.
Are you looking for the best quality LED Lights?
ReplyDelete.
Well, with Nineled you can buy at the price of Wholesale LED Spotlights, LED Street Lamps, Light Post, Cheap Down-lights and many more items.
.
You can get all the things at reasonable prices. Just order it and get it delivered at your doorstep on Nineled.
Are you looking for the best quality Electronic Cigarette POD?
ReplyDelete.
Well, you can check out one the Eceecigpod is the leading brand which offers you to cheap price electronic cigarettes.
.
Moreover, the company has a variety of styles such as Pok Smok Voopoo Relx Smoant, Drag Pumping, and more. All these are easy to carry and you’ll get at your doorstep with lightning-fast speed.
Greeting someone with love is one of the meanest task specially in this hard-paced life. However, you can still do that by giving your special ones a reason to smile and love.
ReplyDeleteWell, you can greet people with various methods and one such method is by following this complete guide on Greeting people https://medium.com/@olivia67/how-greetinly-help-people-around-india-to-spread-happiness-136960af19cc
Are you looking for a customized Pendrives?
ReplyDeleteWayona is one of the leading manufacturers of customized pendrives. They can supply a range of branded and customized Pendrive ready for corporate gifting with the custom logo on your company.
You can get high-speed USBs in 2.0 as well as 3.0 versions as per your need which can make your marketing campaign a success. Wayona offers over the 500+ assortments in pen drive from plastic, leather, PVC as well as wooden.
This comment has been removed by the author.
ReplyDeleteSyncetech is one of the websites which comes out with the freshly brewed content about PC, Windows, How-To’s, Fixes, and much more.
ReplyDelete.
Syncetech comes with a clear goal of offering the best of everything for pc. They offer solution-oriented guides like fix error, how to, windows fix windows error and many more.
.
The mission of Syncetech is to provide every possible information related to Tech. You can visit this site here https://www.syncetech.com/category/fix/
Are you looking for the Best Gaming Laptop Under 60000 Rupees?
ReplyDelete.
Well, you can now grab the best budget gaming laptop under a fixed budget with great specifications.
.
Hunting for the gaming laptop might be daunting, but at BestGamingLaptop does a lot of hard work and covers Best Gaming Laptop.
Are you looking for Best VPN Black Friday Deals 2020?
ReplyDelete.
Well, VPN or Virtual Private Network lets you do internet surfing which is not tracked by your Internet Service Provider or ISP.
.
Now, VPN’s like ExpressVPN, TunnelBear, NordVPN are some of the best in business. However, the price of these services is quite expensive. So, here is the Black Friday VPN Deals 2020 for you.
https://emulator-world.tumblr.com/post/625277303148216320/kik-messenger-app-a-complete-guide-on-kik-and
ReplyDeleteLooking for the Best Laptop Under 50000?
ReplyDelete.
Check out NiamIndia for the latest pricing and Reviews for Best Laptops under 50000 here:- https://www.niamindia.org/best-laptop-under-50000/
I am professional Gamer working for Foriza Horizon as a Senior Consultant. i love to play games on Monitor Here is the Best 32 Inch Monitor for PC games.
ReplyDeleteI am professional Gamer working for Foriza Horizon as a Senior Consultant. i love to Play Games on my PC. Here is my Blog to solve issue with PC.
ReplyDeletehttps://nationalhelm.co/
ReplyDeleteAre you looking for the
Top Rated Surround Sound Headphones.
Well, in this post we have listed some of the best surround sound headphones for movies.
The headphones listed in this post are able to deliver high quality audio with surround sound providing the sound experience of a theatre at home.
I am Interior Designer by Profession.I love to listen to music. Here is my Blog about
ReplyDeleteTop Rated Headphones for ASMR.
Are you looking for Best 4K Monitor India?
ReplyDelete.
Well, a lot things go into your mind when buying the best 4K monitor in India. Since, ultra HD technology is quite new for people.
.
Now, finding a quality computer screen with the resolution of 4K in 2020 it can be little tricky. Now, the 4K Monitor Price in India changes; however, here are the top rated 4K Monitors with latest prices.
Best Laptop under 50000 in India
ReplyDeleteWell, if you have a high budget and looking for the best gaming laptop you have plenty of options to look and there are bunch of things which you need to keep in mind. Tubi TV Download for PC Helpsforpc
ReplyDeleteYou made some really good points there. I looked on the net for additional information about the issue and found most individuals will go along with your views on this web site.
ReplyDeleteBuy 50 Instagram Video Views
I conceive you have noted some very interesting points, regards for the post.
ReplyDeleteทางเข้าw88
Hi thank for sharing such a nice post on your blog keep it up and share more. also check hudsoncress.net propane generator
ReplyDeleteThat's an amazing piece of information.
ReplyDeleteKeep it up
Looking fir latest technological updates
Head over to us at
indiatechnoblog.com
We intent to serve one-stop one-software solution, offering a complete blend of self-reliant platforms for your daily execution by bringing your brilliant ideas to reality, and enhancing productivity of already existing businesses.
ReplyDeleteDo visit us more solutions at
https://saaspect.com/
Wohh just what I was looking for, regards for posting. AE Casinoฝาก-ถอนออโต้ . เล่นAE Casinoบนมือถือ . Sexy Baccarat AE
ReplyDeleteThemcv.com Best 15 inch subwoofer under 200$
ReplyDeleteI am glad that I saw this post. It is an informative blog for us and we need this type of blog, thanks for share this blog, Keep posting such instructional blogs and I am looking forward to your future posts. Also, visit Analgesic Drugs Manufacturers
ReplyDeleteContact Lenses in Las Vegas NV
ReplyDeleteGlasses and Contact Lenses Las Vegas NV
BCBS Healthcare Solutions Provider in Las Vegas
Medicaid Provider Las Vegas NV
Medicare Provider Las Vegas
Optometrist in Las Vegas NV
Ophthalmology Las Vegas NV
Oftalmologa Las Vegas NV
Eye Doctor in Las Vegas NV
EyeMed Provider Las Vegas NV
LASIK Screening Las Vegas NV
LASIK Screening Las Vegas NV
"I'm happy I found this post. It's informative and just what we need. Thanks for sharing! Keep posting helpful blogs. Looking forward to more!" shell pearl wholesaler
ReplyDelete