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Worry about supply — not demand — in Canada’s overheated property market, says former BoC governor David Dodge

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Posted by Hat Tip to John Good

on Wednesday, 23 November 2016 11:09

Screen Shot 2016-11-23 at 10.01.09 AMIn 2006, in the middle of one the hottest years on record for Canadian housing, then Bank of Canada Governor David Dodge sent a testy letter to his counterpart at the country’s mortgage insurer warning about lax standards fueling demand for homes. Today, Dodge has new words of caution: worry more about supply.

“It’s not very complicated: there’s a supply curve, there’s a demand curve. If you restrict that supply curve then don’t be surprised by high prices,” said Dodge, who over four decades as a public servant worked at the Canada Mortgage and Housing Corp. and headed both Canada’s finance department and its central bank.

While Finance Minister Bill Morneau’s recent measures to cool Canadian housing markets are only the latest in a decade-long effort to stem demand, beginning with Dodge’s letter, they have also begun to reveal something else: the federal government’s waning ability to solve the problem.

....continue reading HERE

...related:

Real-estate reform: What you need to know about Ottawa’s overhaul



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Real Estate

Canadian Mortgage & Housing Drops a Bombshell

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Posted by Michael Campbell & Ozzie Jurock

on Monday, 21 November 2016 07:15

Actually the CMHC CEO threw grenades at the real estate market. Regulators are to push for higher interest rates, higher down payments, impose more mortgage qualifying restrictions, kill all provincial first time buyer programs and put a cap on the size of mortgages applicants can get.

....also: Live From the Trading Desk: Huge Moves - Time to TipToe Short Term

ozie

 



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Real Estate

Millionaire Metric

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Posted by Brian Ripley's Canadian Real Estate Charts

on Thursday, 17 November 2016 08:29

xxx

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Vancouver, Calgary & Toronto Single Family Dwellings and a Millionaire all priced in CA$ Gold

The chart above shows Vancouver, Calgary and Toronto single family dwellings as well as the value of a Millionaire all priced in ounces of CA$ gold. It attempts to look for breakouts or breakdowns in the hot Canadian real estate markets when valued in a globally traded "currency". Bullion attracts investment when credit markets contract because of its classic use as a hedge against currency depreciation and its ability to act as a store of value.

....read more HERE

....related:

The Good Bad & Ugly For Real Estate From a Trump Presidency



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Real Estate

The Good Bad & Ugly For Real Estate From a Trump Presidency

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Posted by Michael Campbell & Ozzie Jurock

on Monday, 14 November 2016 07:17

Ozzie on major moves in real estate that will flow from a Trump Presidency in both the US and Canada. Areas effected by Trump's favoring coal, the military, marijuana, the Keystone Pipeline and infrastructure spending on the plus side. More on the negative side in this interview with Michael.

...related: The Main Investment Theme For the Next Decade

trumpp

 



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Real Estate

Canadian 6 City Single Family Housing Prices For October

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Posted by Brian Ripley's Canadian Real Estate Charts

on Friday, 11 November 2016 08:08

oct16-canada orig

The chart above shows the average detached housing prices for Vancouver*, Calgary, Edmonton, Toronto*, Ottawa* and Montréal* (the six Canadian cities with over a million people) as well as the average of the sum of VancouverCalgary and Toronto condo (apartment) prices on the left axis. On the right axis is the seasonally adjusted annualized rate (SAAR) of MLS® Residential Sales across Canada (one month lag).

....read more HERE

....related:

Ozzie Jurock - The Bear's Returned To Vancouver's Real Estate Market ...But Few Noticed.



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