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Real Estate & the Financial Crisis

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Posted by Martin Armstrong - Armstrong Economics

on Tuesday, 14 March 2017 07:40

Housing-Property-Real-Estate"The real estate cycle peaked and it is headed down in terms of appreciation. This is the general market and not the high-end, although that has begun to turn down in many places often due to taxation of rising regulation as in Miami or Sydney Australia."

...read the entire article HERE

....also from Martin:

Real Estate – the Faces of Buyers



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Real Estate

Real Estate: Record Toronto Highs - Soon To Hit Escape Velocity

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Posted by Brian Ripley's Canadian Real Estate Charts

on Friday, 10 March 2017 08:55

chart-canada 2 orig

 

Larger Chart

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 each) 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).

​​In February 2017 Canada's big city metro SFD prices coiled about or slid off their near term highs except in Toronto where detached houses,town houses and condos fetched new peak prices. Anyone owning a house in the scorching hot Toronto  market is sitting on an unredeemed lottery ticket. In Vancouver scorched earth ruins are beginning to appear. Notice Calgary prices are labouring under the new Energy Sector 2.0 which could be anticipating the Trumpster's U.S. energy independence.

High net worth trophy hunters have spent the last few years picking off well located SFD properties in hot markets while the hoi polloi settled for anything before being "priced out". Are they going to enjoy being "priced in"?

CMHC is not so sure. In November 2015 CMHC had a private audience in New York City and brought along a stress test of $35/bbl oil and its potential effect on Canada. I covered the bullet points here. The Department of Finance is also worried:



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Real Estate

Vancouver Housing and the Double Double Helicopter Money Drop

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Posted by Brian Ripley's Canadian Real Estate Charts

on Friday, 03 March 2017 08:09

chart-double-double 2 orig

CLICK CHART TO ENLARGE

The chart shows the bulls in charge prior to the 2007-2008 plunge that took the average Vancouver SFD price down $122,900, or 15.9% in 8 months (24% per year drop). The crash derailed the exponential doubling trend but after reignition prices doubled again in June of 2016 at $1,542,642 + $18,858. The next double was scheduled for around December 2021, but it is now unlikely that buyers are as fearful of missing out as they were in 1H 2016. 

...also:

In February 2017, Vancouver detached house prices added very little drama to the slump from the July peak under the heavy weight of sentiment change and sales that are 53% below their March 2016 peak. The manic detached buying spree moved prices up 21.5% per year since the JAN 2013 low. Prices now are deflating at 11.4% since the peak in July 2016. 

....read more and view chart HERE



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Real Estate

It’s Crash Awareness Week

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Posted by Bill Bonner - Diary of a Rogue Economist

on Thursday, 02 March 2017 10:05

image002A Los Angeles spec house is on the market. It has seven bedrooms and 20,000 square feet of living space. 

It comes with a gold Lamborghini Aventador and a gold Rolls-Royce Dawn.

You also get a wine cellar, a pool, and the usual claptrap amenities to which rich people are easy prey.

The price? A hundred million dollars.

Oh, and it comes with some of Damien Hirst’s oeuvres, considered by some to be “art.”

The builder says he has another one under construction in Bel-Air that he plans to offer for $500 million.

Bombastic Extravagance

What do we make of this? 



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Real Estate

A Mind Boggling Market Down-Turn

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Posted by Ozzie Jurock with Michael Campbellbell

on Monday, 13 February 2017 10:06

A forecast by Ozzie comes true with a 19% decline in Vancouver housing prices. The number of sales of single family dwellings is down tremendously and buyers are moving to different classes of dwellings

.....also Mike's Goofy: Extremism Play-doh & Coloring Books

Screen Shot 2017-02-12 at 8.27.00 AM

 



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