Canadian average weekly wage $909

Quote from oldtime:

make people live like communists, until there is no more money, and then release them to be capitalists?

seems to be working for China
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Quote from Wallace:

China's housing story is different, what China has accomplished in what, 30 years
took the West 200 years to accomplish.
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Bullish on China ? Always nice to know who is on the other side of the trade:

"Jim Chanos is, of course, one of Wall Street's best-known short sellers, famous for "outing" Enron and also shorting AIG well in advance of its meltdown in 2008." The link is unnecessary to click...its just a reference for the quote.
http://www.nasdaq.com/article/wine-...jim-chanos-china-the-edifice-complex-cm241306


Chanos has been shorting China for at least two years that I am aware of. I didn't know why until I saw him in a rare interview on CNBC some months ago last winter. Here is his power point slides, unfortunately many with bullet points without the narrative needed to explain some of them, but nevertheless you can easily understand the many others.
(just use the slide bar at the following link)
http://www.scribd.com/doc/137088241/Chanos-China-Presentation
 
Quote from arbprofit2:

Canadian home price history

http://homepriceindex.ca/hpi_tool_en.html
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Great find, arbprofit2 !

Looks like for in the "Aggregate" and Greater Vancouver, 12 months ago for some reason was the pivot point. Vancouver heading south.

The eastern big cities of Montreal and Toronto are holding their own.

So is Regina, Alberta holding well.

Calgary is doing great.
 
Quote from deucy28:

Great find, arbprofit2 !

Looks like for in the "Aggregate" and Greater Vancouver, 12 months ago for some reason was the pivot point. Vancouver heading south.

The eastern big cities of Montreal and Toronto are holding their own.

So is Regina, Alberta holding well.

Calgary is doing great.
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Calgary is in its own little bubble it seems. We were effected here in 2007-2009, but prices quickly rebounded. High paying jobs in the oil and gas and service sector areas inflate home prices. The average wage may be $909 a week, but I can tell you professionals and blue-collar jobs will be 2-3 times that if you have the proper skills.
 
canada and australia are english colonies and therefore copy uk style property mumbo jumbo.

see uk to get clues whats next for colonies.
 
Quote from marketsurfer:

It's time to short canadian real estate. Any suggestions?

thanks,

surf
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Your "price drivers" tell you that did they?
 
Agreed. Many people aren’t quite aware of how in danger the Canadian economy is. I believe that Canada will be hurting quite a bit one of these days.
 
My hometown is sure feeling the hurt today. Last Thursday night a flood struck downtown with little warning and displaced about 10% of the city, blacked out the downtown core, threatened the opening of the Calgary Stampede, twisted LRT track like spaghetti. Maybe it is a good time to buy real estate here now?

http://www.cbc.ca/news/canada/calgary/story/2013/06/25/calgary-zoo-flooding-hippos-animals.html

A little scattered looting, no shots fired, and one death (88 year old that ignored warnings to evacuate) so far that I know of. Water restrictions, empty roadways as requested by our mayor.

However, on the positive side, so many volunteers pitched in to help that they had to turn them away, come Hell or High Water Tshirts are selling like hot-cakes, our mayor got a 85% excellent handling of the flood emergency and 4% poor rating, there is a new spirit of community here that is almost palpable, strangers helping strangers. Amazing feeling.

What doesn't kill us, makes us stronger! Even if the world is smacked by market downturns, debt defaults, weather events and fears of fears in all its forms, with people working together in peace we are stronger! It is why I love living here.
 
Quote from peilthetraveler:

By comparison the US average weekly wage is $773 per week.


Seems like they are making more money until you look at median home prices. In Canada median home prices are $353,000. In the US, its $238,000. Basically all that extra money just goes into housing.
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And home owners have been rewarded with a nice return for two decades on their investment, even though most don't care it was a place to live. Any capital gain on selling is tax free. US markets a few years back seemed to have far more speculation going on.

National figures are pretty meaningless though; housing is a regional market. $353K in Toronto won't get you much. Demand remains strong, and renters don't have a lot of choices. Lot of rich Asian families like Canada, buying up properties, preferred location for their kids education and air quality.
 
Article on housing after the flood: http://www.edmontonjournal.com/busi...ds+will+have+ripple+effect/8583904/story.html and http://business.financialpost.com/2...ing-market-defies-doomsayers/?__lsa=525a-649e

City is recovering. 3 deaths in High River which was washed out. 1 death in Calgary. LRT tracks twisted like spaghetti so only 3 lines operating fully. So many volunteers that they couldn't use them all. Calgary Stampede is a go in spite of Saddledome flood. What a celebration yesterday - Canada day.

One person up the street was hoping the deal would falter - her house is up 40000 since the sale date according to her agent. We are out of the flood plain and so more desirable. Conveyance is interesting - large legal firms on the other side weren't open on the date involved. Lawyers had to ask for a ruling from the law society as to the policy when the legal offices have no power (electricity, not talk).

I was interested in one particular building and floor that went without a hickup as far as the news went and that I helped build with high availability over a decade ago. No problems at all.

One nieghbour's sister said no worries at 5 PM and was evacuated by 7 PM. She reported a step change in flooding of 8 feet in 15 minutes when the damn began overtopping by design. The worry is that the damn would burst or be undercut and Calgary downtown would be moved several feet to the east!

To add insult to injury, last week a train bridge middle support dipped 3 feet while 6 rail cars were travelling over it. Recovered without a hitch except traffic was snarled. I am truly impressed by the response. I am not a big fan of government in general, but sometimes they do get things right!

Problem with parking in downtown, many condos and residents without power still, many garages flooded - bring your horse!
 
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