Tag Archives: bubble

How important is construction to economic growth and employment across Canada?: Part 2

In part 1 of this series we looked at construction employment as a percentage of total employment, and residential construction as a percent of GDP for all provinces from BC east to Ontario. If you haven’t read that post, make … Continue reading

Posted in Economy, Real Estate | Tagged , , , , , , , , , | 6 Comments

“Housing: Real Insanity”…..Great article in Canadian Business

A quick note to my readers:  Posts will be a bit sparse over the next two weeks while the final bugs are worked out of the new site. Within a couple weeks, this blog will exist no more.  The transition … Continue reading

Posted in Real Estate | Tagged , , , , | 12 Comments

Another look at mass psychology, asset bubbles, and the Canadian real estate market

Understanding the driver of asset bubbles Perhaps the greatest distinction between those economists who have correctly identified asset bubbles in the past and those whose economic models failed to identify them is the ability of the former group to recognize … Continue reading

Posted in Real Estate | Tagged , , , , , , , | 61 Comments

A regional look at Canada’s housing bubble: Part 2

Note to my readers:  Due to some technical problems, I was not able to make any posts this weekend.  My apologies. In part 1 of this mini series, we examined house prices from BC east to Ontario.  Today we will … Continue reading

Posted in Economy, Real Estate | Tagged , , , , , , , , , | 15 Comments

A regional look at Canada’s housing bubble: Part 1

Introduction I recently highlighted the fact that aggregate Canadian house prices appear to be significantly overvalued relative to GDP per capita (one of the key determinents of income….all things being equal, higher income levels should equate to higher house prices). … Continue reading

Posted in Real Estate | Tagged , , , , , , , , | 41 Comments

House prices and per capita GDP: A sure sign of a bubble?

I’m currently working with some data to show the historic relationship between house prices in Canada and various other factors such as inflation, population growth, immigration, income, mortgage debt, rents, etc.  I’ll share the data as I complete it and … Continue reading

Posted in Real Estate | Tagged , , , , , , | 22 Comments

CMHC feeling the heat

CMHC feeling the heat If you’ve read this blog for any time now, you’ll know my position on CMHC policies:  They are inherently self-defeating and act as the enabler to Canada’s housing addiction.  Most concerning, CMHC guarantees over half a … Continue reading

Posted in Economy, Real Estate | Tagged , , , , , , | 32 Comments