Canadian Housing in USD
The breakout in the USD and the sell off in Canadian Petro Dollars looks to be an important shift of view for Canadian housing valuations.
I have given this new chart its own page and each month I will update the CAD USD spread as represented by the valuations of average single family detached houses in the hot metro markets of Vancouver, Calgary and Toronto.
The spread is widening dramatically as it did after the July 2008 oil peak and Canadian housing denominated in CAD, especially in Vancouver, has yet to recognize that a switch has been thrown.
History, Charts & Curated Readings
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'