Category Archives: economy

Global debt at highest peacetime level

It’s a new milestone! Its. Ot just Canadians that cant get enough of that debt, global debt levels have reached their highest peacetime levels:

We are likely to see central banks continue market interventions that have enabled governments to take on more debt since the crisis, perhaps even financing spending directly with so-called “helicopter money”.

We’re actually not a million miles away from this. By their aggressive actions over the last decade, central banks have effectively trapped themselves into continually intervening in government bond markets. They’re arguably beyond the point of no return.

Full article here.

We’re not number one.

Southseacompany shared this link to a list of global cities with the most overvalued real estate:

Swiss bank UBS’s Global Real Estate Bubble Index 2019 found a significant overvaluation in half of the 24 housing markets analysed by the research. The bubble risk appears greatest in seven global cities, with Munich the most vulnerable, followed by Toronto, Hong Kong, Amsterdam, Frankfurt, Vancouver and Paris. Major imbalances are also found in locations such as London, San Francisco, Tokyo and Stockholm, while valuations are considered stretched in Los Angeles, Sydney and Geneva.

Read the full article here.

How’s them development permits?

An anecdote from southseacompany:

Post from one of my LinkedIn connections;

“Lead indicators … Vancouver’s Development Permit Board reviews major project applications. Their agenda looks rather empty. ”

July 22, 2019 – Cancelled
August6, 2019 – Cancelled
September 3, 2019 – Cancelled
September 16, 2019 – Cancelled

“When I served on the DPB (1999 -2002) we commonly had 3 to 4 items on the agenda EVERY two weeks.”

19% mortgage fraud rate?

Bullwhip29 shared this story claiming 1 in 5 millennials commit mortgage fraud:

Around one in five (19 per cent) of Millennial home buyers responding to the survey admitted to inflating their annual income on their mortgage application. And nearly 23 per cent of Millennial home buyers said they think this is an acceptable course of action in today’s mortgage climate — nearly double the 12 per cent of all respondents who agreed this was OK.

Read the full article here.