Oh, Canada...


#121

We’ve put most of it in cold storage. Demographically, the country has a Chilean shape. Nearly all the people live in a narrow band less than 500 kms from the American border and much of the recent speculative excitement has occurred in just two Southern cities. According to the CBC last night, Canadian real estate increased only 3.1 % last year outside Vancouver and Toronto.


#122

Vancouver seems especially crazy, they’re paying a quarter of a million to build houses in their own lane ways now.

And these “houses” cannot be legally split from the block they’re built on, so can’t be sold separately!

vreaa.wordpress.com/2012/05/29/whats-the-difference-between-a-shed-and-a-laneway-house-drum-roll-about-268000-cymbal/


#123

Good vid by BBC
Edit:BAD conclusions

Will Canada’s housing bubble burst?

bbc.co.uk/news/magazine-18155405


#124

From CNBC, 11th June 2012
[

](https://www.cnbc.com/id/47762460)

Blue Horseshoe


#125

In case it’s not been posted already

thethirtiesgrind.com/2012/06/07/ … ne-7-2012/


#126

I was in Vancouver last year. Have to say even if they’ve had a bubble the building density in downtown was done right and looks good and is use-able into the future. Maybe they have ghost estates but in my traveling I saw nothing like it. Vancouver does sprawl and I didn’t see much of that vista enough to get an idea and yes the weather is like here, but the warm rain felt better there than t does here know what I mean :wink:

I knew of some Irish renting a house owned by a Chinese lady living/working in Tornoto. Colossal amount of Chinese money flowing there but ironically enough more sushi restaurants than I ever saw in Japan!

Needless to say they may have been having a boomie bubble but you coudl still get find California roll for about 30/40&% what it costs in Ireland and therw was choice across the market, more variety and you coudl live very thriftly if you needed too and do well. Eating out a places to go where wide and varied with a lot of independent business into all kinds of fair. Many I noted didn’t say have the same hygiene level on a facile loook but the food was always fabulous. Irish business have a tough time having to chilll or nuke everything. It kills flavour to the max. However that the regime here. Mindless machine.

I also believe the “hipster” thing originated in Vancouver and when you see a few spots you can see how that might be the case.

Funny to see the same cycle repeated to quickly and so closely. It’s hard for anyone to deny but like we had the Take Five in the IR, you coudl do a Take 5 Articles/reports and compare those… BOOM BOOM! :-GC

One thing Cananda doesn’t have is cheap flight between cities, or so I was told by locals on a few occasions. Nothing like Ryanair or American low cost operators. Granted if it turns to shit people can move around Canada it’s a big palce. What about plastic paddy or is most of he melting in Australia?


#127

My brother’s partner is from Vancouver. Everytime they visit the inlaws, he says he’s going to BC for a few weeks of ‘lattes and sushi’. Sounds nice to me!

Only time I ever went was when my mom got married on Vancouver Island. I just remember the contrast of cultures was amazing: decendants of those Europeans who just kept going once they landed in New York coming face to face/full circle with the Orient. Amazing.


#128

I firs was in Vancouver in 1988 to visit my Uncle and his family (he is now deceased, a good man, RIP_. I returned in the early 2000’s again there.

I was shocked that it’s was no longer the city of my memories but had changed very significantly. Very much a city of Asia. Chinese and other races massively outnumber the white persons.

Reminded me of Michael McDowell.
Aaaaaagggghhh.


#129

Debt-fuelled economy running on fumes, warns Carney - -> ctv.ca/CTVNews/Canada/201206 … ank-120621


#130

Flaherty tightens mortgage, lending rules, cools market

winnipegfreepress.com/breakingnews/getting-canadas-house-in-order-159983615.html

"OTTAWA – Buying a first home or taking out a loan against an existing residence will be more difficult for Canadians under new rules announced Thursday, but Finance Minister Jim Flaherty says it’s for their own good.

For the fourth time in as many years, the finance minister moved to tighten the mortgage and lending landscape – changes that mean up to five per cent of Canadians who might be considering buying a new home will likely no longer qualify.
Related Items

This time, Flaherty’s cutting the maximum amortization period for government-insured homes to 25 years from the current 30 years, and limiting how much homeowners can borrow on the value of their homes to 80 per cent from 85 per cent.

Those are not the only changes the government is making. It will no longer be in the business of insuring homes that are worth more than $1 million – meaning buyers will need to put up at least a 20 per cent down payment or seek private insurance."


#131

Good work, that man! Some sound policies.


#132

A sounder policy might be for the Canadian government to get out of home loan insurance altogether.


#133

The time to clamp down on lenders was 2 tears ago. carney knew what was going on but lectured from the sidelines


#134

Canada’s housing market: Time for a bigger needle | The Economist econ.st/MrOlFn


#135

S&P downgrades Canadian banks on housing risk

bloomberg.com/news/2012-07-3 … tlook.html


#136

Toronto cooling

businessweek.com/news/2012-0 … -mortgages


#137

Vancouver home resales plummeting

Average price down 12.4% to $667,462 over last year in July

Read more: theprovince.com/business/Van … z23iYgWFTO


#138

STATISTICS CANADA

Housing Price Index

statcan.gc.ca/survey-enquete … 10-eng.htm

www5.statcan.gc.ca/cansim/pick-c … ue=1&p2=42


#139

Does the graph go to June 2012?
From the same website

statcan.gc.ca/daily-quotidie … 9b-eng.htm

New Housing Price Index, June 2012

Edit: From the CREA study referenced earlier


crea.ca/canadian-home-sales-hold-steady-july


#140

It shows the price index for all Canada rather than regional data. I just thought it was worth going to the primary source material to inject some facts into speculative discussions.

Jan 1981    44.9    43.1    45.8
Feb 1981    45.4    43.7    46.3
Mar 1981    46.2    44.5    46.4
Apr 1981    47.0    45.6    46.6
May 1981    47.7    46.5    46.9
Jun 1981    47.9    46.8    46.9
Jul 1981    47.9    46.8    46.9
Aug 1981    47.7    46.6    46.9
Sep 1981    47.5    46.7    46.2
Oct 1981    47.4    46.4    46.2
Nov 1981    47.2    46.3    45.7
Dec 1981    47.3    46.5    45.8
Jan 1982    47.4    46.7    45.8
Feb 1982    47.4    46.5    45.8
Mar 1982    47.1    46.2    46.0
Apr 1982    47.0    46.0    45.8
May 1982    46.6    45.6    45.3
Jun 1982    46.2    45.5    44.6
Jul 1982    45.8    45.5    43.5
Aug 1982    45.6    45.2    43.2
Sep 1982    45.2    44.9    42.4
Oct 1982    45.0    44.7    42.4
Nov 1982    44.7    44.6    41.8
Dec 1982    44.6    44.4    41.8
Jan 1983    44.6    44.5    41.6
Feb 1983    44.5    44.5    41.6
Mar 1983    44.4    44.4    41.8
Apr 1983    44.4    44.2    42.0
May 1983    44.3    44.1    42.0
Jun 1983    44.4    44.2    42.2
Jul 1983    44.4    44.2    42.2
Aug 1983    44.6    44.5    42.0
Sep 1983    44.6    44.4    42.1
Oct 1983    44.6    44.5    42.0
Nov 1983    44.7    44.5    42.2
Dec 1983    44.6    44.4    42.0
Jan 1984    44.6    44.4    42.1
Feb 1984    44.7    44.7    42.1
Mar 1984    44.8    44.8    42.1
Apr 1984    44.9    44.9    42.2
May 1984    44.9    44.9    42.3
Jun 1984    44.8    44.7    42.2
Jul 1984    44.8    44.7    42.2
Aug 1984    44.7    44.6    42.2
Sep 1984    44.6    44.5    42.1
Oct 1984    44.6    44.5    42.1
Nov 1984    44.4    44.4    41.8
Dec 1984    44.5    44.5    41.8
Jan 1985    44.6    44.7    41.9
Feb 1985    44.6    44.7    42.0
Mar 1985    44.8    44.9    42.1
Apr 1985    44.8    44.9    42.1
May 1985    44.8    44.7    42.4
Jun 1985    45.0    44.9    42.7
Jul 1985    45.1    45.0    42.7
Aug 1985    45.3    45.4    42.9
Sep 1985    45.6    45.6    43.1
Oct 1985    45.8    45.9    43.2
Nov 1985    46.0    46.2    43.3
Dec 1985    46.2    46.3    43.4
Jan 1986    46.8    47.1    43.8
Feb 1986    47.4    47.7    44.3
Mar 1986    47.7    48.1    44.4
Apr 1986    47.9    48.5    44.4
May 1986    48.3    48.9    44.7
Jun 1986    48.5    49.2    44.8
Jul 1986    48.9    49.5    44.9
Aug 1986    49.3    50.1    45.2
Sep 1986    50.3    51.3    45.9
Oct 1986    50.8    51.9    45.9
Nov 1986    51.5    52.7    46.3
Dec 1986    51.8    53.0    46.3
Jan 1987    52.2    53.6    46.4
Feb 1987    53.1    54.8    46.6
Mar 1987    54.7    56.5    48.2
Apr 1987    55.4    57.3    48.6
May 1987    55.9    57.7    49.2
Jun 1987    56.1    58.1    49.3
Jul 1987    56.4    58.3    49.6
Aug 1987    56.7    58.6    50.0
Sep 1987    57.2    58.8    51.3
Oct 1987    57.5    58.9    51.5
Nov 1987    57.7    59.1    51.9
Dec 1987    57.8    59.2    52.1
Jan 1988    58.0    59.4    52.4
Feb 1988    58.6    59.9    53.0
Mar 1988    59.1    60.4    53.5
Apr 1988    60.2    61.6    54.6
May 1988    61.0    62.3    55.6
Jun 1988    61.5    62.6    56.8
Jul 1988    61.7    62.7    57.2
Aug 1988    62.2    63.4    57.5
Sep 1988    63.4    64.3    59.0
Oct 1988    63.8    64.7    59.6
Nov 1988    64.7    65.0    61.3
Dec 1988    65.5    65.3    63.5
Jan 1989    66.2    65.4    65.0
Feb 1989    67.8    66.5    68.1
Mar 1989    68.9    67.0    70.6
Apr 1989    69.5    67.4    71.6
May 1989    69.7    67.5    71.9
Jun 1989    70.1    68.0    72.3
Jul 1989    70.3    68.1    72.8
Aug 1989    70.3    68.0    73.1
Sep 1989    70.6    68.3    73.7
Oct 1989    71.0    68.6    74.0
Nov 1989    71.4    68.9    75.2
Dec 1989    71.9    69.2    75.7
Jan 1990    72.5    69.8    76.3
Feb 1990    72.6    69.8    76.8
Mar 1990    72.8    70.0    77.3
Apr 1990    72.6    69.7    77.3
May 1990    72.3    69.2    77.5
Jun 1990    71.4    67.9    77.2
Jul 1990    71.0    67.3    77.2
Aug 1990    70.3    66.6    76.4
Sep 1990    69.4    65.7    75.2
Oct 1990    68.8    65.0    75.1
Nov 1990    68.2    64.1    74.7
Dec 1990    67.9    63.8    74.7
Jan 1991    66.9    62.9    73.5
Feb 1991    65.5    61.8    71.8
Mar 1991    65.8    62.1    72.1
Apr 1991    65.6    61.9    72.2
May 1991    66.0    62.6    72.3
Jun 1991    66.0    62.6    72.3
Jul 1991    66.1    62.7    72.6
Aug 1991    66.0    62.5    72.6
Sep 1991    66.0    62.5    72.6
Oct 1991    66.0    62.6    72.4
Nov 1991    65.7    62.3    72.2
Dec 1991    65.7    62.2    72.3
Jan 1992    65.6    62.1    72.2
Feb 1992    65.5    62.0    72.3
Mar 1992    65.7    62.0    72.6
Apr 1992    65.9    62.1    73.1
May 1992    65.9    62.0    73.4
Jun 1992    66.0    62.2    73.6
Jul 1992    66.1    62.1    74.5
Aug 1992    66.1    62.0    74.5
Sep 1992    66.0    61.9    74.5
Oct 1992    66.1    61.9    75.0
Nov 1992    66.2    62.2    74.8
Dec 1992    66.1    62.0    75.0
Jan 1993    66.0    61.9    75.0
Feb 1993    66.3    62.2    75.2
Mar 1993    66.7    62.5    75.7
Apr 1993    67.0    62.9    75.9
May 1993    66.8    62.4    76.2
Jun 1993    66.9    62.6    76.4
Jul 1993    67.0    62.5    76.6
Aug 1993    67.1    62.7    76.6
Sep 1993    67.1    62.9    76.5
Oct 1993    67.0    62.7    76.5
Nov 1993    67.0    62.7    76.5
Dec 1993    66.9    62.7    76.5
Jan 1994    67.0    62.7    76.5
Feb 1994    66.9    62.6    76.4
Mar 1994    66.9    62.5    76.5
Apr 1994    66.9    62.6    76.5
May 1994    66.9    62.5    76.5
Jun 1994    67.0    62.7    76.5
Jul 1994    66.9    62.5    76.6
Aug 1994    67.0    62.7    76.6
Sep 1994    67.0    62.7    76.6
Oct 1994    66.9    62.7    76.5
Nov 1994    66.8    62.5    76.5
Dec 1994    66.7    62.5    76.3
Jan 1995    66.7    62.5    76.3
Feb 1995    66.6    62.4    76.2
Mar 1995    66.5    62.4    76.1
Apr 1995    66.5    62.3    76.1
May 1995    66.3    62.2    75.9
Jun 1995    66.1    62.0    75.7
Jul 1995    66.1    62.0    75.6
Aug 1995    66.1    61.9    75.7
Sep 1995    66.0    61.9    75.6
Oct 1995    65.7    61.5    75.3
Nov 1995    65.4    61.3    75.1
Dec 1995    65.5    61.4    75.1
Jan 1996    65.4    61.3    75.1
Feb 1996    65.2    60.9    75.0
Mar 1996    65.0    60.8    74.9
Apr 1996    64.8    60.4    74.9
May 1996    64.7    60.4    74.8
Jun 1996    64.8    60.4    74.8
Jul 1996    64.7    60.4    74.8
Aug 1996    64.7    60.4    74.8
Sep 1996    64.7    60.4    74.7
Oct 1996    64.7    60.4    74.6
Nov 1996    64.9    60.7    74.7
Dec 1996    64.9    60.7    74.8
Jan 1997    65.0    60.9    74.8
Feb 1997    65.2    61.1    74.8
Mar 1997    65.2    61.2    74.8
Apr 1997    65.3    61.3    74.7
May 1997    65.3    61.4    74.8
Jun 1997    65.3    61.4    74.8
Jul 1997    65.4    61.5    74.8
Aug 1997    65.4    61.5    74.8
Sep 1997    65.4    61.5    74.8
Oct 1997    65.4    61.4    74.9
Nov 1997    65.6    61.8    74.9
Dec 1997    65.7    61.9    75.0
Jan 1998    65.8    62.0    75.0
Feb 1998    65.8    62.1    75.0
Mar 1998    65.9    62.2    75.1
Apr 1998    65.9    62.2    75.1
May 1998    65.9    62.3    75.1
Jun 1998    66.0    62.4    75.1
Jul 1998    66.1    62.5    75.1
Aug 1998    66.1    62.4    75.3
Sep 1998    66.0    62.4    75.2
Oct 1998    66.1    62.5    75.1
Nov 1998    66.1    62.5    75.1
Dec 1998    66.1    62.5    75.3
Jan 1999    66.1    62.5    75.3
Feb 1999    66.1    62.7    75.3
Mar 1999    66.3    62.8    75.3
Apr 1999    66.3    62.9    75.3
May 1999    66.3    62.9    75.1
Jun 1999    66.3    63.0    75.2
Jul 1999    66.5    63.1    75.3
Aug 1999    66.7    63.3    75.3
Sep 1999    66.8    63.6    75.4
Oct 1999    66.9    63.7    75.4
Nov 1999    67.1    64.0    75.4
Dec 1999    67.3    64.2    75.5
Jan 2000    67.3    64.2    75.5
Feb 2000    67.5    64.6    75.5
Mar 2000    67.6    64.7    75.6
Apr 2000    67.7    64.8    75.6
May 2000    67.9    65.0    75.7
Jun 2000    67.9    65.0    75.7
Jul 2000    68.1    65.1    75.8
Aug 2000    68.2    65.4    75.9
Sep 2000    68.4    65.6    76.0
Oct 2000    68.5    65.7    76.1
Nov 2000    68.8    66.1    76.1
Dec 2000    68.8    66.1    76.2
Jan 2001    69.0    66.4    76.2
Feb 2001    69.2    66.6    76.2
Mar 2001    69.4    66.8    76.2
Apr 2001    69.6    67.1    76.3
May 2001    69.7    67.2    76.5
Jun 2001    69.9    67.5    76.5
Jul 2001    70.1    67.8    76.5
Aug 2001    70.2    67.9    76.6
Sep 2001    70.4    68.1    76.6
Oct 2001    70.4    68.1    76.7
Nov 2001    70.6    68.4    76.8
Dec 2001    70.8    68.5    76.8
Jan 2002    71.0    68.8    76.8
Feb 2002    71.4    69.5    76.9
Mar 2002    71.7    69.7    77.1
Apr 2002    72.1    70.4    77.2
May 2002    72.6    70.9    77.3
Jun 2002    72.7    71.1    77.4
Jul 2002    72.9    71.2    77.4
Aug 2002    73.2    71.7    77.6
Sep 2002    73.3    71.8    77.6
Oct 2002    73.7    72.4    77.7
Nov 2002    74.2    73.0    77.8
Dec 2002    74.4    73.2    77.9
Jan 2003    74.6    73.5    78.0
Feb 2003    75.0    74.1    78.1
Mar 2003    75.1    74.1    78.1
Apr 2003    75.4    74.5    78.2
May 2003    75.8    75.0    78.4
Jun 2003    76.0    75.2    78.5
Jul 2003    76.3    75.5    78.5
Aug 2003    76.7    76.0    78.7
Sep 2003    77.0    76.4    78.9
Oct 2003    77.4    76.8    79.1
Nov 2003    77.9    77.6    79.1
Dec 2003    78.1    77.8    79.2
Jan 2004    78.4    78.1    79.3
Feb 2004    78.7    78.5    79.4
Mar 2004    78.9    78.8    79.6
Apr 2004    79.6    79.5    80.1
May 2004    80.2    80.3    80.4
Jun 2004    80.8    80.8    81.0
Jul 2004    80.9    80.9    81.1
Aug 2004    81.3    81.3    81.5
Sep 2004    81.5    81.6    81.6
Oct 2004    81.7    81.8    81.8
Nov 2004    82.0    82.2    82.0
Dec 2004    82.2    82.4    82.3
Jan 2005    82.4    82.6    82.4
Feb 2005    82.7    82.9    82.6
Mar 2005    83.0    83.2    83.0
Apr 2005    83.4    83.6    83.4
May 2005    83.9    84.0    83.8
Jun 2005    84.5    84.2    85.3
Jul 2005    84.7    84.4    85.4
Aug 2005    85.0    84.7    85.7
Sep 2005    85.5    85.2    86.1
Oct 2005    86.1    86.0    86.4
Nov 2005    86.5    86.4    86.7
Dec 2005    87.1    87.1    87.1
Jan 2006    87.9    88.0    87.4
Feb 2006    88.4    88.7    87.7
Mar 2006    89.3    89.7    88.4
Apr 2006    90.4    90.9    89.1
May 2006    91.5    91.9    90.4
Jun 2006    92.8    93.3    91.7
Jul 2006    93.8    94.1    92.9
Aug 2006    95.2    95.6    94.1
Sep 2006    95.7    96.1    94.7
Oct 2006    95.9    96.2    95.0
Nov 2006    96.4    96.6    95.9
Dec 2006    96.4    96.5    96.4
Jan 2007    96.8    96.9    96.5
Feb 2007    97.2    97.4    96.9
Mar 2007    97.6    97.7    97.4
Apr 2007    98.4    98.4    98.3
May 2007    99.4    99.6    99.1
Jun 2007   100.0   100.1    99.9
Jul 2007   101.0   100.8   101.4
Aug 2007   101.4   101.4   101.5
Sep 2007   101.7   101.7   101.7
Oct 2007   101.8   101.7   102.0
Nov 2007   102.3   102.2   102.4
Dec 2007   102.4   102.3   102.7
Jan 2008   103.0   102.9   103.2
Feb 2008   103.3   103.2   103.7
Mar 2008   103.6   103.3   104.1
Apr 2008   103.6   103.2   104.4
May 2008   103.5   103.1   104.4
Jun 2008   103.6   103.1   104.7
Jul 2008   103.7   103.2   104.8
Aug 2008   103.7   103.2   104.9
Sep 2008   103.7   103.1   105.2
Oct 2008   103.3   102.4   105.5
Nov 2008   103.0   101.8   105.6
Dec 2008   102.9   101.6   105.5
Jan 2009   102.2   101.0   104.9
Feb 2009   101.5   100.1   104.3
Mar 2009   101.0    99.6   103.8
Apr 2009   100.5    98.8   103.7
May 2009   100.3    98.7   103.4
Jun 2009   100.1    98.6   103.2
Jul 2009   100.4    98.9   103.2
Aug 2009   100.5    99.1   103.1
Sep 2009   100.9    99.8   103.2
Oct 2009   101.2   100.2   103.0
Nov 2009   101.6   100.7   103.2
Dec 2009   101.9   101.3   103.2
Jan 2010   102.3   101.8   103.2
Feb 2010   102.4   102.0   103.0
Mar 2010   102.7   102.6   102.7
Apr 2010   102.9   102.8   102.8
May 2010   103.3   103.3   103.0
Jun 2010   103.4   103.5   103.0
Jul 2010   103.3   103.4   102.8
Aug 2010   103.4   103.6   102.8
Sep 2010   103.6   103.6   103.3
Oct 2010   103.6   103.6   103.4
Nov 2010   103.9   103.8   103.7
Dec 2010   104.0   103.7   103.9
Jan 2011   104.2   104.0   104.0
Feb 2011   104.6   104.3   104.4
Mar 2011   104.6   104.5   104.3
Apr 2011   104.9   104.9   104.4
May 2011   105.3   105.4   104.8
Jun 2011   105.6   105.8   104.8
Jul 2011   105.7   105.8   105.0
Aug 2011   105.8   105.9   105.1
Sep 2011   106.0   106.2   105.1
Oct 2011   106.2   106.4   105.3
Nov 2011   106.5   106.8   105.5
Dec 2011   106.6   106.8   105.7
Jan 2012   106.7   106.9   105.9
Feb 2012   107.0   107.1   106.1
Mar 2012   107.3   107.5   106.3
Apr 2012   107.5   107.8   106.4
May 2012   107.8   108.1   106.6
Jun 2012   108.0   108.4   106.8