Real Estate

If You Own This Expensive Asset, It’s Time to Sell

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Posted by Bill Bonner - Diary of a Rogue Economist

on Monday, 27 July 2015 06:14

2015-02-01-Average-Price-WebVANCOUVER, Canada – When we woke up in the morning, the TransCanada had already heaved itself over the highest point in the Rockies. 

Gone were the dense forests of the East. Gone were the wide-open spaces of Saskatchewan and Alberta. We were in British Columbia – rolling downhill, following the gray-green river downstream, through boiling canyons and lazy flats… 

Does any country have more bountiful natural resources than Canada? 

Timber, food, cattle, minerals, water – Canadians have it all. 

Too bad: When it comes to prosperity, there are few things as dangerous as inheriting money or having abundant natural resources. 

Gagging on Oil

Rather than making or inventing things… or providing useful services… a resource-rich economy tends to sell itself – by the ton. 

When commodities boom, the miners, farmers, and lumberjacks live high on the hog. But when they fall – the economy falls with them. 

Canada’s economic growth was negative in the first quarter. The country is the world’s tenth largest exporter of crude oil. And oil is in its worst downturn in 30 years, according to Morgan Stanley. 

The U.S. oil price has dipped below $50 a barrel. Along with it, the entire commodity complex – upon which much of the economy of Canada depends – could be dragged further down too. 




Real Estate

What's Happening in Real Estate Markets Outside of Toronto & Vancouver?

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Posted by Real Estate Reporter for the GlobeandMail

on Thursday, 23 July 2015 06:54


While most of the attention paid to house prices focuses on the big markets of Toronto, Vancouver and Calgary, there are other cities in Canada. Real estate reporter Tamsin McMahon looks at six smaller markets across the country that are being affected by changing economic conditions ....continue reading HERE


Real Estate

Canada Poised For Biggest Housing Crash in History

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Posted by Canadian Real Estate Wealth

on Wednesday, 15 July 2015 12:08

Housing crashCanadian home prices are about to fall by nearly 50 per cent, leading to the biggest housing crash the country has ever seen – but this could present an opportunity for well-financed investors.

"Investors who own properties with substantial equity can hang on without any trouble and they will see a new supply of renters who will be looking to rent after being burned as owners," MacBeth, a portfolio manager at Richardson GMP in Edmonton told CREW.

.....read more HERE


Real Estate

Trading Places: Chinese Flee Stocks for Offshore Property

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Posted by Visual Graphics

on Friday, 10 July 2015 10:40



Every transitioning economy has its growing pains. This turns out to be especially true when that economy is....continue reading HERE


Real Estate

Real Estate – the Peak is Here

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Posted by Martin Armstrong - Armstrong Economics

on Friday, 10 July 2015 06:40


I reported we sold my mother’s house in one week. I too follow our model. The bounce in real estate into 2015.75 seems to be unfolding on time. What will make the peak is a rise in taxes. You have Chicago looking to raise taxes by 30%. Even in Texas there are protests starting over tax increases everywhere from DallasAustin, to San Antonio.

la-propriete-cest-le-vol-copie-300x225In France protests call it just theft. The London market has been propelled higher than ever because of the problems in Continental Europe with the Euro and France. To the locals, anything that brings the prices down and makes housing more accessible in London is perceived as a good thing since the influx of foreign capital has been to get off the grid. This type of influx of foreign “investment” into the London property market has been seen as actually a destructive force with entire neighborhoods transformed into ghost towns since they are just owned with no one living there. This has had a ripple effect forcing local stores to close down for lack of business when nobody is actually there to service. Prices of this type of property will decline for the property is not actually being utilized.


The bounce in real estate into 2015 that our model projected was the higher end, not the low-end as was the case in 2007. So far everything seems to be on target. The overall long-term decline will be impacted by the reduction in long-term mortgages combined with insane increases in property taxes as governments try to stay afloat. The 30 year mortgage was the product of the New Deal. With Fannie declining and volatility in debt rising, the value of property should decline lacking the “leverage” of long-term mortgages. We will see a decline more in line with the decline in prices meeting the availability of cash for deals.


China – The Bounce


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