Tag Archives: carney

Open Topic

FFFA! Affordability, Overpriced, Comparisons

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106 Comments

It’s that time of the week again!  This time, we’re going to use the assistance of commentor Snake who posted most of these links.

Thanks Snake and everyone else who contributed links.

But as a general reminder, if you post more than one or two links your comment will get held up in moderation. Inconvenient yes, but better than getting inundated with spam links.

Ok! On to the links:

–Most Over And Undervalued Markets
–Market overvalued, but crash worries ease
–7 Remarkable Numbers From Canada’s Housing Market
–Carney To Stop Mortgage Funding Scheme
–Housing Bubble? Canada’s Top Banking Regulator Refuses To Say
–Vancouver Real Estate Canada’s Least Affordable: Report
–How much house can you handle?
–Home affordability worsens, new report shows
–The Chase: Toronto couple’s search for a $650,000 house
–Goldman Sachs recommends shorting CAD$
–Babies ‘R’ Expensive
–Angry in Whistler
–

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

Canada, debt, economy, humor, opinion, predictions, prices, rates

The Central Bank That Cried Wolf.

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86 Comments

There once was a central banker who was bored as he sat on the hillside watching the village sheep. To amuse himself he took a great breath and sang out that some property prices were “probably overvalued“.

The Canadians came running out of their homes to try to pay down their debt and get their finances in order. But when they arrived at the top of the hill, they found record low interest rates and rising property prices along with stagnating incomes. The central banker laughed at the sight of their angry faces.

“Don’t cry ‘high debt loads” said the Canadians, “when there’s no interest rate increases!” They went grumbling back down the hill and signed up for some more mortgages.

The banker was replaced with another, but he played the same naughty game, singing out “The elevated level of household debt and stretched valuations in some segments of the housing market remain an important downside risk to the Canadian economy”

By this time though the Canadians were wise to these pranks and they wisely held their place in the line up for the latest greatest condo pre-sales opportunity.  The banker retired with a gigantic pension and everyone lived happily ever after.

MORAL: Load up on more consumer debt, invest in hot real estate. What could possibly go wrong?

 

Canada, hype, Open Topic

Mark Carney, we hardly knew ye’

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92 Comments

Can you believe this?

Mark Carney is leaving us for the Bank of England!

Carney said he and Flaherty had enjoyed an effective partnership and added he will miss the camaraderie and clear sense of purpose he experienced with the finance minister. He praised the strength of the central bank and reiterated his confidence in it.

A smiling Flaherty said this moment is “bittersweet,” and that the loss of Carney will be felt in Canada.

Carney’s rumoured appointment to the Bank of England was the source of published reports last spring, and at the time he and the Bank of Canada denied the reports.

“I’m totally focused on my two responsibilities: as governor of the Bank of Canada, and the Financial Stability Board,” Carney told reporters on April 18. “I can assure you they add up to more than every waking hour of the day.”

I’d leave a job that added up to more than ‘every waking hour of the day’ as well.

Open Topic

Friday Free-for-all!

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230 Comments

It’s that time of the week again, let’s do our regular end of the week news roundup and open topic discussion thread!  Here are a few recent links to kick off the chat:

–Van prices fall for 5th month
–Bubble popping changes?
–CMHC now handled by OSFI
–RBC: Van Vulnerable to correction
–Vancouver Price Drop Champs
–Vancouver Inventory Chart
–Lending change will cause…?
–BC Population growth stats
–Mark Carney still fretting
–Van top 4th hated city?
–More than 1 mil US underwater
–Former bears call US bottom
–Chinas impending crash

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

Open Topic

Friday Free-for-all!

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139 Comments

It’s the end of another work week and that means it time for the free-for-all!  This is our regular weekend news roundup and open topic discussion thread.  Here are a few recent links to kick off the chat:

–Tiptoeing towards sub-prime
–Get ready for more bidding wars!
–Carney hints at rate hikes
–Is Carney actually driving?
–Vancouver might get a new tower
–Want to RE blog for G&M?
–Higher learning in Whistler
–Translink puts on the brakes
–

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