{"id":239237,"date":"2010-01-27T13:59:00","date_gmt":"2010-01-27T18:59:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:387560"},"modified":"2010-01-27T13:59:00","modified_gmt":"2010-01-27T18:59:00","slug":"further-confirmation-of-canadas-housing-bubble","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/239237","title":{"rendered":"Further confirmation of Canada’s housing bubble"},"content":{"rendered":"

Call it what you want, but economists at Scotia Capital think the Canadian housing market is a bubble that faces downsides into next year \u2013 and the numbers continue to prove it.<\/a><\/p>\n

Teranet\u2019s measure<\/a> of Canadian housing prices, the closest equivalent to the U.S. S&P\/Cash Shiller Home Price Index, was just 0.1% off its all-time record high in November 2009.<\/p>\n

\u201cThe gains are accelerating in recent months, and the December print is likely to firmly set a nationwide all-time record high,\u201d Derek Holt and Karen Cordes said Wednesday.<\/p>\n

While Canadian house prices went down like most other countries, they didn\u2019t stay there. In fact, Teranet\u2019s measure of house prices is up 92% nationwide since the beginning of 2000, blowing most other asset classes out of the water.<\/p>\n

The economists compared this with U.S. home prices, which climbed 105% from the start of the decade until they peaked in 2006.<\/p>\n

Regionally, Calgary is up 120% in the decade, Vancouver 116%, Montreal 110%, Ottawa 90%, Halifax 85% and Toronto 66%. But Scotia does not buy the assertion that only select markets are in frothy territory.<\/p>\n

\u201cAll regions of the country have participated with hefty price gains over the past decade on the march to record nationwide prices,\u201d the economists said.<\/p>\n

They cited the downside risk posed by a further recovery in supply, a material increase in variable and fixed mortgage rates, a leveling off of new mortgage product adoption rates and exhaustion of pent-up demand from the crisis period.<\/p>\n

Jonathan Ratner<\/a> <\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Call it what you want, but economists at Scotia Capital think the Canadian housing market is a bubble that faces downsides into next year \u2013 and the numbers continue to prove it. Teranet\u2019s measure of Canadian housing prices, the closest equivalent to the U.S. S&P\/Cash Shiller Home Price Index, was just 0.1% off its all-time […]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-239237","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/239237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=239237"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/239237\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=239237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=239237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=239237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}