Canadian Real Estate, the Black Swan and the Russian Bear
While we wait for the December 2014 Canadian real estate data from the various boards, here are some year end quotes that underscore just a few of the large scale inputs that can overwhelm the so called immunity that Canadian real estate prices are said to have against any deep price correction as has happened to other over leveraged housing and other commodity and financial derivative markets since the .com blowout of March 2000.
In case you have forgotten the depth and velocity of the previous market reversal when average Canadian single family detached housing prices plunged in 2007-2008 (chart); householder equity vanished as follows:
The chronologically ordered links below go to the full articles.
TRADE WARS & SANCTIONS
ENERGY INVENTORIES SWELL
The Purpose of War
Nineteen Eighty Four
"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