Does the chart below look familiar?
There are so many similarities between Canada and Australia right now. Both have a lot of foreign buyers, both are riding a wave from selling high priced commodities to that same foreign country. Both had a government willing to juice the market as it was falling during the recession, pulling demand from the future and setting their respective markets up for a harder fall later.
Ponzi schemes require increasingly larger inputs to keep them afloat. Reality will set in. And the steeper the rise, the faster it will set in. Note where Calgary is year on year.
Halifax is up for December 2010, but it's also noisy. Everyone else is headed down without question.
You can really see on this chart how Halifax and Montreal are twin markets, as well as Ottawa and Toronto.
There are so many similarities between Canada and Australia right now. Both have a lot of foreign buyers, both are riding a wave from selling high priced commodities to that same foreign country. Both had a government willing to juice the market as it was falling during the recession, pulling demand from the future and setting their respective markets up for a harder fall later.
Ponzi schemes require increasingly larger inputs to keep them afloat. Reality will set in. And the steeper the rise, the faster it will set in. Note where Calgary is year on year.
Halifax is up for December 2010, but it's also noisy. Everyone else is headed down without question.
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| Canada House Price Percent Change Year on Year |
You can really see on this chart how Halifax and Montreal are twin markets, as well as Ottawa and Toronto.
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