Instead of moving to reverse the twin risks of low interest rates and rising debt, Canadian policy makers seem intent on keeping the game going for as long as possible

Terence Corcoran: Canada’s policy makers fixed on doing nothing

It looks to me the bell signalling the top in the Canadian housing market has been rung:

“NEW YORK (Reuters) – Canada’s soaring consumer debt is backed by solid assets, Prime Minister Stephen Harper said on Thursday, saying he was more worried about economic problems outside the country.”

http://ca.reuters.com/article/businessNews/idCABRE94F11F20130516

Just came across a CV for a guy I briefly worked with in IT many years back.

His CV shows he stopped IT work in 2004 for a 9 year venture into the building trades. It now looks like he wants to get back to IT but his skills and knowledge are horribly out of date.

Sorry bud, going to have to pass on you because you’ll cost a fortune in time and money to train.

Give EI a shot, I hear it’s not that bad if you don’t own any real estate!

Moneyweek Magazine UK is all about Canada right now, with Carney coming in:
http://www.moneyweek.com/investments/property/rest-of-the-world/profit-as-canada-housing-bubble-pops-64000

“But George should be careful what he wishes for – because the Canada that Carney leaves behind is looking distinctly wobbly….”
“Canadian papers and real estate brokers will debate the issue of whether or not there’s a bubble until they’re blue in the face.
But anyone with any kind of objectivity can see there’s a problem there. House prices have risen by 123% since January 2000. Even at the peak, US prices were only 90% higher than they were in 2000 – and in real terms, US prices are now slightly lower than they were back then. “

Financial Post: ” 11 charts that show Canada’s economy is entering a world of hurt.”
http://www.financialpost.com/m/wp/business-insider/blog.html?b=business.financialpost.com/2013/05/16/11-charts-that-show-canadas-economy-is-entering-a-world-of-hurt

Bob Rennie’s new tout is that boomers will finance the market. What happened to the rich asians? I wonder if that is now real estate salesman taboo because of the fake buyer scandal.

Chinese are greedy motherfuckers. Because of their greed Canada Post discontinued to insure small packages. Before you had automatic $100 insurance on all small packages. Then Chinese would abuse that and claim lost package in order to receive that $100. Now in order to buy insurance you have to take tracking options for your deliveries that increase your price 4 times. So basicly it is worthless option if you have small package of $50-60 value. The cost of sipping and insurance would be way higher then the value of your package.

Canadian dollar topping, all the Canadians who borrow in US funds to invest or buy property in the US counting of higher Canadian dollar to bail them out are about to take it on the chin. Also its a reflection of commodity super cycle ending.

http://peterlbrandt.com/is-the-canadian-dollar-about-to-be-hockey-sticked/

Still no price correction yet, but multifamily home sales fall by 45% YOY.

http://www.vancouversun.com/Metro+Vancouver+multifamily+home+sales+fall+nearly+half+over+same+period+last+year/8395571/story.html

Tony, do you have any facts to back up your racist rantings?

Having TCM practitioners bill MSP was a stupid idea of Clarks and pretty soon the hole in the medical fund from thousands of unnecessary and fraudulent billings will cause the closure and cancellation of more operations and more beds.

I am going to send the article above to my MLA and ask them to reverse this idiocy.

How can a TCM bill MSP $500K and the $1.1M, is there no one at the till?

We are completely screwed with such incompetant civil servants and allowing people with limited ethics to access our public funds.

***Another stupid idea from Krusty the Clown***

Too bad you had to fuck up an excellent post with sour grapes.
The election is over. The people chose Christy. Get over it and come back in 4 years.

Well addair
Since it was Clark who allowed the Chinese practitioners to bill – it seems fair to blame her

Senator Brazeau was suspended for $48K in excessive expenses. Bad. Yes. This TCM crook billed MSP 50X more than the amount Brazeau’s pocketted. We are totally screwed.

mac #19, great post. Basically, if one doesn’t think for himself, he’s destined to be screwed by a vast number of ways over his life. They should stop blaming the government, developers, big businesses, parents, wives / husbands, whoever.

Regarding chinese medicine #8, “A recently completed audit again found a 100 per cent rate of error in patient records, and the ministry is now looking to get that money back.”

With governments like this, who needs fraudsters…

What’s wrong bears, too depressed about the return of the bull market to talk about real estate? Even VHB is to depressed to post. Whenever the bear’s false hopes are dashed, VHB disappears.

May has been a solid bullish month. Sales are high and so is the sell/list ratio. Did you buy bears? Of course not! You missed the boat again.

Three years have a lower sell/list than your projected May 2013 sell/list. How is that bearish? The market did not cras in those other three years, why would it crash this year, which is a more bullish year?

Bears have blinders on. How else can you be wrong for 10 years?