{"id":572017,"date":"2010-05-20T12:16:00","date_gmt":"2010-05-20T16:16:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/wild-facts-screaming-canadian-real-estate-bubble-2010-5"},"modified":"2010-05-20T12:16:00","modified_gmt":"2010-05-20T16:16:00","slug":"wild-facts-that-scream-canadian-real-estate-bubble","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/572017","title":{"rendered":"Wild Facts That Scream Canadian Real Estate Bubble"},"content":{"rendered":"<p><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b90f1ff7f8b9ac979700000-200-\/house-cliff.gif\" border=\"0\" alt=\"house cliff\" width=\"200\" \/><\/p>\n<p>Which ends first, the Canadian housing bubble, the Australian one, or the Chinese one? Here are some key stress-points in the Chinese housing economy:<\/p>\n<p><a href=\"http:\/\/www.thestreet.com\/story\/10760195\/1\/canadas-real-estate-market-bubbly.html\">The Street:<\/a><\/p>\n<ul>\n<li>Canada&#8217;s real estate prices have increased on average 40% [questionable, see below] in the last year while incomes have dropped.<\/li>\n<li> Canadian residential real estate is now worth more today than it was pre-Lehman. There are now more dwellings built in Canada (assuming, as the Canadian government does, that an average of 2.3 people live in each dwelling) than the population of Canada. <\/li>\n<li>Canadian consumers have racked up enormous debts while interest rates have been low over the past 20 months.<\/li>\n<li> Personal bankruptcies are at record levels now in Canada when interest rates are still at historical lows. # In Vancouver, people now spend 68% of their disposable income on housing. In Toronto, people spend 44% of their disposable income on housing. (Keep in mind that the China bears were complaining that it was unsustainable that some Chinese in Beijing and Shanghai were spending more than 30% of their disposable income on housing.)<\/li>\n<\/ul>\n<p>The first and fourth points seem the most ominous, in our view.<\/p>\n<p>UPDATE: Not sure how The Street calculated their average price change. Here&#8217;s the latest change in average price via <a href=\"http:\/\/www.crea.ca\/public\/news_stats\/statistics.htm\">CREA<\/a>:<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bf565247f8b9a3c34cc0100\/chart.png\" border=\"0\" alt=\"Chart\" \/><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/wild-facts-screaming-canadian-real-estate-bubble-2010-5#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/mvz9KclYXQY\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Which ends first, the Canadian housing bubble, the Australian one, or the Chinese one? Here are some key stress-points in the Chinese housing economy: The Street: Canada&#8217;s real estate prices have increased on average 40% [questionable, see below] in the last year while incomes have dropped. Canadian residential real estate is now worth more today [&hellip;]<\/p>\n","protected":false},"author":6205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-572017","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/572017","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\/6205"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=572017"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/572017\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=572017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=572017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=572017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}