Canada is counter cyclical to the trend.
Canadians are bucking the trend set in other developed nations where real estate peaked and participants subsequently turned to repairing their balance sheets.
In Canada, savings rates are falling again as personal debt levels keep growing.
At some point, that will change despite the Federal Government policy low Treasury yields.
When real estate flipping no longer produces a capital gain, owners will shift their priority away from spending to saving, including the forced saving plan known as a mortgage.
Look out. When spending drops, unemployment rises.
"Family matters have pressed upon my time and after more than 16 years of publication, I have transferred ownership of this website and database. Thanks to all my readers who have encouraged me over the years."
July 31, 2021
History, Charts & Curated Readings
"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'
"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