ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
September 23, 2022 | The Most Splendid Housing Bubbles in Canada, September Update: House Prices Plunge
In Hamilton, Ontario, after a ridiculous mind-bending spike, prices plunged 5.8% in August from July, and are down 10.5% in three months. In Toronto, prices plunged 4.0% in August from July, and are down 8.3% in three months. In Vancouver, prices dropped by 2.0% in August from July; in Ottawa by 3.1% in August; in […]
September 20, 2022 | Housing Bubble Woes: Home Builders Cut Prices, Pile on Incentives, amid Plunging Traffic of Buyers, Spiking Cancellations, Holy-Moly Mortgage Rates
“Buyer traffic is weak in many markets as more consumers remain on the sidelines due to high mortgage rates and home prices that are putting a new home purchase out of financial reach for many households,” according to the National Association of Home Builders this morning regarding its survey of home builders. Incentives: “In another […]
September 14, 2022 | Gasoline Demand Destruction Accelerates Despite Plunge in Prices: Consumption Drops to August 1997 Level
Over the four weeks through September 9, gasoline consumption dropped by 11.7% from the same four-week period in 2019, to 8.56 million barrels per day on average, below the same periods in 2020 and 2021, according to EIA data today. The EIA measures gasoline consumption in terms of barrels supplied to the market by refiners, […]
September 7, 2022 | Bank of Canada Hikes by 75 Basis Points, Brushes Off Housing Woes, Dip in CPI, Slowing Growth
The Bank of Canada hiked the target for its overnight rate for the fifth time in a row, today by 75 basis points, to 3.25%, the highest since 2008, following the 100-basis-point monster hike at the last meeting, which got everyone’s attention. In the statement, the BoC said that its policy interest rate “will need […]