Housing Bubble

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

Oh Canada - Reflections On An Economic Experiment

"...the real problem is with the Fed’s unwillingness to surprise markets. They are convinced that moves should be telegraphed well in advance.. the Fed is a slave to market expectations...Well, Bank of Canada Governor Poloz is willing to take the other side of this view. Arguing that in normal times, there is no need for such guidance..."

Australia Mortgage Market Is Now A $1.7 Trillion "House Of Cards"

"This approach allows lenders to report the cross-collateral security of one property which is then used as collateral against the total loan size to purchase another property. This approach substitutes as a cash deposit.  It's a classic mortgage Ponzi finance model."

Here's How Many Americans Live In Houses They Can't Afford

The U.S. Department of Housing and Urban Development suggests that you spend no more than 30% of your annual budget on housing costs as it could put you at greater risk of being unable to afford other necessities.  That said, Americans are overachievers.

Loonie Soars After Bank Of Canada Unexpectedly Hikes Rates By 25 bps

With only 6 of 33 forecasters predicting a rate hike in today's Bank of Canada announcement, it was inevitable: the Bank of Canada surprised a good 75% of the market, and triggered massive stop loss orders in the looni, when moments ago it announced a rate hike of 25bps to 1%, sending the USDCAD lower by nearly 300 pips, the biggest spike in the loonie since March 2016.