Category Archives: Uncategorized

Oliver to continue current interventions in housing market

After the IMF issued yet another warning on the Canadian housing market Joe Oliver decided its time to speak up.

There is no housing bubble basically, but they will continue to keep an eye on the situation.

And yet the foreboding predictions keep coming. Goldman Sachs warned of a “large correction” in Canadian real estate in 2013. That same year, The Atlantic magazine called Canada “the biggest housing bubble in the world” and the OECD issued a report that listed Canada’s as one of the most overvalued housing markets in the world. Earlier this year Deutsche Bank said Canada was in “serious trouble” with its supposedly overinflated house prices. Capital Economics’ David Madani has been standing by his call for a “day of reckoning” for Canadian housing since 2011.

That no reckoning has come to pass yet may explain why Mr. Oliver and the Bank of Canada’s anxiety has cooled.

“In a way, it’s strange,” said Mr. Porter. “Because if anything the market does seem to have gotten a bit more overheated — especially in Toronto and Vancouver.”

Sunshine Coast land sales

Skook has updated the massive Sunshine Coast Land Sales thread over at VancouverPeak– this thread shows historical and 2014 data.

Just a short ferry ride away they never really saw a recovery after the 2008 crash – There are lots for sale in Gibsons that were asking $219k in 2007 and are currently asking $169k.

Here’s the most recent post with data for November 2014.

Hat-tip and thanks to Skook for compiling the data!

Labor Participation Rate lowest since Nov 2001

Canada’s job market dropped close to 11k jobs in November, but this is after a couple of months of big gains.  We’re sitting now at 6.6% unemployment nationwide.

The good news? We’re seeing gains in full time positions and most of the losses are in part time positions:

Full-time employment grew by 5,700 jobs, while part-time work dropped by 16,300. The goods-producing sector, which includes the manufacturing, natural resources and construction industries, added 17,300 posts, while the services sector lost 28,000.

The 12-month gain came to 146,000 positions, an increase of 0.8 percent, while the six-month moving average for employment growth was 21,300 jobs, down from 27,400 in October.

Read the full article here.

Friday Free-for-all! Rates, Pop, HPI, Dip

It’s the end of another week, time for a long weekend!

And since it’s Friday that means it’s time for our regular end of the week news round-up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Banks in trouble if bubble pops
WTF is the HPI?
Cost of debt dips
High end sales dip just a blip?
Crash fears rising
US new home sales slide
China RE price drop trigger protests

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent long weekend!

FFFA! Exodus, Data, Finance, Sales

Hey hey looky here! It’s the end of another work week, and that means it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Housing data ‘dangerously incomplete’
Realtor Hunger Index still above average
Deputy finance minister retires
Moving to Hong Kong for better jobs
March stats roundup
Buy as many mansions as you can
Sunshine coast: 2nd worst March

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!