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Monthly Archives: August 2023
Oxford Economics: Canada’s real estate downturn “far from over”
After past housing bubble peaks in Canada and elsewhere, home prices contracted 25%+ nationally and stayed relatively flat in the following decade or so. That allowed incomes to advance on shelter costs and restore affordability over time. A similar pattern … Continue reading
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Record debt payments and rising unemployment
US household debt has surpassed a fresh record of $17.1 trillion. $12 trillion is in mortgages (more than twice the 2006 bubble top), $1.6 trillion in auto loans, and over $1 trillion in credit card debt, all with the highest … Continue reading
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No time for delusions
Bullish sentiment roared back in the first half of 2023 on the blind belief that low unemployment numbers mean that this time is different and the sharpest monetary tightening in 40 years is not triggering a recession. In reality, changes … Continue reading
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