Pop, There Goes The Bubbles, It's All Coming Apart - Episode 1562a
Toronto's housing bubble is popping, its only a matter of time before this spreads from country to country and it all starts to fall apart. Commercial price index is now back to 2008 levels. Credit card delinquencies are on the rise, charge offs are increasing among small banks and the people have it the ceiling with credit card debt, we are now seeing signs that credit cycle has run its course.
Thanks Dave. Being in the middle of this Toronto bubble, my broker friends say the housing market is dead and it is harder to get mortgage.
Wouldn't it be funny if cryptocurrency ended up being the standard instead of the petro-yuan?
Thank You Dave, Great report.
Thanks Dave. House prices in the UK have had their biggest monthly fall in 8 years. Demand has softened (despite all the good economic news!). Now they plan to give 25 years olds £10,000 to put towards buying a house. Desperationsville.
So, Canada is the eye of the storm, at least in in the house market.
Will see how bad all this is going to get. Get ready for it.
End of the year .🤨