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Cory’s Chart Corner
In both directions. h/t @LanceRoberts
This is really pretty incredible.
US household holdings of equities and mutual funds reached a record 278% of disposable personal income in the second quarter of 2026, up from just 29% in 1982, amplifying the stock market’s influence on consumer spending and economic activity.
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Extend and pretend has magnified economic shock
As interest rates soared above six percent over the last seventeen months, four of the big five Canadian banks have allowed floating-rate customers to extend and pretend by making the same mortgage payments as when floating rates were sub-2%. This … Continue reading
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Higher rates freezing mobility and consumption
About seventy percent of Canadian mortgages were taken out over the last few years with a 5-year fixed term and an ultra-low interest rate that averaged 2.79%. In 2020-2021, some 40% were taken at floating rates that averaged 1.65%. Floating … Continue reading
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Unaffordable prices cure unaffordable prices
Canada’s housing bubble is crystal clear unless you are paid not to see it (wilfully blind) or painfully naive. The average national home price of 754K in July is ten times the average household income of $75k. The historically recognized … Continue reading
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