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Rise in stressed homeowners leading prices lower

In March, the year-over-year change in new listings (yellow bars below) outpaced sales volumes (blue bars) in all major Canadian urban areas. See Canada’s homebuyers wait out trade war fallout: March saw more homebuyers retreating to the sidelines amid growing … Continue reading

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“This type of thing usually ends with forced liquidations”

Understanding that “defensive” equities offer little protection in bear markets is critical to meaningful capital protection. The table below (courtesy of Gary Shilling) shows what happened to different sectors and the S&P 500 index overall during past recessions. Trying to … Continue reading

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Asset bubble bug finds another windshield

Financial commentators predictably blame the Trump administration for ‘unexpected’ market losses. Two things about that: the tariff file was not unexpected. Trump has promised to do this for a long time. Secondly, major downdraft cycles are the natural and recurring … Continue reading

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