Canada’s Real Estate Bubble has BURST: Recession Coming – David Rosenberg

Real Estate
#CanadianRealEstate #BankofCanada #CanadaEconomy

Canada’s real estate bubble has burst, and with the negative wealth effect hurting sentiment, David Rosenberg says its time to brace for the “economic hit.” With $1.6 trillion in estimated losses, from peak to trough, RBC says the housing-boom in Canadian wealth is over.

Links:

David Rosenberg: Canada’s housing bubble has burst — now brace yourself for the economic hit:

https://financialpost.com/news/economy/home-price-plunge-recession-david-rosenberg

Proof Point: The housing-charged boom in Canadian net wealth is over:

https://thoughtleadership.rbc.com/proof-point-the-housing-charged-boom-in-canadian-net-wealth-is-over/

Home price ‘chill,’ weaker financial markets lead to $900B Q2 loss in net wealth; largest on record: RBC:

https://www.ctvnews.ca/mobile/business/home-price-chill-weaker-financial-markets-lead-to-900b-q2-loss-in-net-wealth-largest-on-record-rbc-1.6130919

Kevin Carmichael: Why Tiff Macklem is willing to risk a recession to crush inflation:

https://financialpost.com/news/economy/macklem-risks-recession-crush-inflation

Recession in Canada ‘probable’ next year, ex-Bank of Canada governor Mark Carney says:

Recession in Canada ‘probable’ next year, ex-Bank of Canada governor Mark Carney says

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Bank of Canada Survey Reveals More Institutions Expect Financial Shock Soon:

https://betterdwelling.com/bank-of-canada-survey-reveals-more-institutions-expect-financial-shock-soon/

With average prices up another 14%, Swiss bank UBS warns of housing bubbles in Canada:

https://www.cbc.ca/news/business/ubs-housing-bubble-2021-1.6209369

Canadian consumers power 5.4% annualized growth:

https://www.bnnbloomberg.ca/statistics-canada-says-gdp-grew-at-5-4-annual-rate-in-q3-1.1688906

Policy interest rate:

https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

Tiff Macklem says he’s not backing down on rate hikes, even as recession fears grow:

https://financialpost.com/news/economy/bocs-macklem-says-hes-not-backing-down-on-rate-hikes-even-as-recession-fears-grow

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