Housing Prices

Moodys Slashes Ratings On 6 Canadian Banks, Fears Asset-Quality Deterioration, Soaring Household Debt

Amid Poloz-described "unsustainable prices" in various cities, and just days after the collapse of Canadian mortgage lender Home Capital Group and our discussion of the dire state of Canadian savers (and their record household debt), Moodys has cut the rating son six of Canada's largest banks because of "ongoing concerns that expanding levels of private-sector debt could weaken asset quality in the future."

How Governments Outlaw Affordable Housing

The current planners don't want more housing. The government planners only want a certain type of housing. Meanwhile, the renters live in smaller and smaller units, and drive further and further. But there's one thing of which we can be sure. "Capitalism" will be blamed for it all.

Cheat Or Chump? - You Are Not An Investor

"You are not an investor. One can only be an investor in functioning markets. There have been no functioning markets since at least 2008, and probably much longer. That’s when central banks started purchasing financial assets, for real, which means that is also the point when price discovery died. And without price discovery no market can function."

Financial Market Insurance Is Not Like Hurricane Insurance

"..the hurricane is not more or less likely to hit because more hurricane insurance has been written. In the financial markets this is not true. The more people write financial insurance, the more likely it is that a disaster will happen, because the people who know you have sold the insurance can make it happen. So you have to monitor what other people are doing.”

What Makes Millennials Disturbingly Different?

In stealth fashion millennials are rapidly transforming society...The era of the US economy sustaining itself via consumption may die as the Millennials become the economy! Their motivations and expectations are completely different than any prior generation and the changes will be profound.

Trader Warns Of Week Ahead Event Risk: "If You Thought This Week Was Bad..."

It was a week when the world was supposed to come to an end, notes Bloomberg's Richard Breslow, but then it didn’t... However, next week’s big events include a meeting between the Chinese and American presidents. Don’t underestimate the importance of it or the market interest it will garner.

These Are The Best And Worst U.S. Cities To Own A House

At the top, with annual price increases of 10% or more, we find the usual west coast (and thus closest to China) suspects: Seattle and Portland, followed close behind by Denver and Dallas, which appears to be enjoying the recent revival in shale.