It unwound 46% of all assets it had added during the pandemic. Far more aggressive QT than the Fed’s.
Prices rose in March, but are down 17.5% year-over-year, the second-worst in the data. Sales -34% year-over-year.
Year-over-year, home prices plunged by the most on record as the seasonal uptick in prices was far smaller than a year ago.
Hangover after a drunken party instigated by the Bank of Canada’s money-printing and interest-rate repression that turned buyers’ brains to mush.
Will pause if inflation projections pan out. If not, more rate hikes on the table. Frets about upside risks to inflation from services, labor market, China
He who panicked first, panicked best? Some charts are just kind of funny.
The ridiculous spikes, fueled by the Bank of Canada’s interest rate repression and QE, unwind metro by metro, some lightning fast, others more leisurely.
Down faster during the bust than up during the bubble: a special feature in some cities. Vague humor wafts around the charts.
“Not enough” v. “Too much.”
As the Bank of Canada’s rate hikes and QT goose mortgage rates, some practically funny price spikes are getting unwound very fast.