Housing Market

David Rosenberg: "This Is A Bubble Of Historic Proportions"

"This bubble is on par with what we had in the States back in ’05, ’06, ’07. We have to actually take a look at the situation. The housing market here is in a classic price bubble. If you don’t acknowledge that, you have your head in the sand."

The Miami Condo Implosion Is Much Worse Than Aggregate Industry Numbers Reveal

What is driving real estate agents crazy is that the local and national real estate associations keep on putting rosy reports out there saying “prices up 7% this month, etc.” but then the agent has to explain to their client that the pricing in their condo building is actually down 20% over the last 18 months with a 5-year supply of units listed for saleThe rosy reports might be true in the aggregate, but they mask the distress in certain segments of the market.

Toronto House Price Bubble Goes Nuts

Residential property sales in Greater Toronto soared 17.7% year-over-year to 12,077 homes, according to the Toronto Real Estate Board (TREB). New listings jumped 15.2% to 17,052. Prices for all types of homes, based on the MLS Home Price Index Composite “Benchmark,” soared 28.6%. The “average” selling price soared 33.2%!

Grantham Commits The Cardinal Sin

What we have today is a much different phenomenon than the previous bubbles where the public’s imagination ran amok with thoughts of sugar plum fairies and rainbows. The only ones experiencing that sort of disillusion today are the Central Bankers who believe they will be able to control this mad science experiment.

This Economy Is Ruined For Many Americans

In the dazzling glitter and excitement of soaring asset prices that central banks around the world, and particularly the Fed, have tried so hard to engineer, it’s easy to forget that not everyone has those assets, that a lot of people can’t get “rich” just sitting on inflated assets, that they have to work long hours in measly jobs just to stay one paycheck ahead of hunger and homelessness.

Global Stocks Soar To Record Highs On "Dovish" Fed, Dutch Vote

World stock indexes surged to record highs on Thursday while the dollar traded close to a one-month low after the Federal Reserve hiked U.S. interest rates but signaled no pick-up in the pace of tightening, while the Dutch elections were broadly interpreted as a drop in support for Europe's anti-establishment powers.