tag:blogger.com,1999:blog-5936637281134795592.post8062132210775966769..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Fri Post #2: Housing Bubble or Housing Zeppelin? - UpdatedUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5936637281134795592.post-52452126525009387412012-05-25T20:21:38.485-07:002012-05-25T20:21:38.485-07:00Hopefully Farmer, hopefully.Hopefully Farmer, hopefully.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-68355821117644454812012-05-25T19:55:08.450-07:002012-05-25T19:55:08.450-07:00Thanks for bringing the perspective on the fact th...Thanks for bringing the perspective on the fact that it is most of the world that has been engaged in speculative bets on housing. I enjoyed this post Whisperer. The economic reinflation theme utilizing artificially low interest rates is finally blowing up in everyones faces. It is instead resulting in people all over the globe becoming indentured for life to massive debts. In some cases they lose it all and bankrupt. So much for real estate wealth when it is really a form of prison once the equity withers away and prices decline. We need only look at the charts of any one of the international markets that bubbled over to know that we are just as vulnerable here in Canada. Vancouver's time will come soon enough too and then the BS and bluster will finally come to an end. Heck, just the fact that two papers have printed Gord Gobles article speaks volumes about how sentiment is changing. Six months ago they would have laughed him right out of their offices and given that piece a big thumbs down. Now it is front and center. This is certain to change a few minds in town.<br /><br />FarmerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-9937940741541615942012-05-25T15:57:53.506-07:002012-05-25T15:57:53.506-07:00Very good point about Ireland, thanks.Very good point about Ireland, thanks.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-18432160136876496222012-05-25T15:37:34.028-07:002012-05-25T15:37:34.028-07:00National Public Radio in the US had a segment on m...National Public Radio in the US had a segment on mortgage defaults in Ireland a couple months ago. What was interesting is how people couldn't discharge the debt easily, and it followed them around to keep paying long afterwards the property was gone.<br /><br />That is very interesting when the Irish 18% YOY decline in the article is mapped to the oft quoted Canadian mantra that since people can't walk away from their mortgage debt, it somehow insulates the market. It looks like quite a comparable showing that it material declines can still happen.-- And that's 18% in only one year! Imagine throwing on a few more years at anywhere near that rate. Scary times ahead.CanAmericanhttps://www.blogger.com/profile/13498944583802865163noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-29821674931991975782012-05-25T10:57:04.908-07:002012-05-25T10:57:04.908-07:00Thanks for the post - great blog.
Could you plea...Thanks for the post - great blog. <br /><br />Could you please spend some time describing why CREA's HPI "Year over Year Benchmark" for April in Vancouver was +3.7% while it's "Average Year over Year Price" for April in Vancouver was -10%. <br /><br />(http://www.crea.ca/content/canadian-home-sales-edge-higher-april) *Check out the graphic near the bottom*<br /><br />This is statistics manipulation at it's finest and I think the readers would benefit from your unique perspective.Anonymousnoreply@blogger.com