Canada

The Most Splendid Housing Bubbles in Canada: After a Rocking & Rolling BoC-Pause Season, the First Price Drops Reappear

by Wolf Richter • Aug 15, 2023 • 100 Comments

Short-term yields spiked, and mortgage rates with them: First results of the Bank of Canada’s unpause on the housing market.

Global Steel Production in 2022 Fell Most since 2009, Unwound Stimulus Spike of 2021. China’s Production Fell for 2nd Year

by Wolf Richter • Jun 8, 2023 • 41 Comments

China still produced more than the rest of the world combined, 12 times more than the US.

The Bank of Canada Un-Pauses, Hikes 25 Basis Points, Second Central Bank to Un-Pause on Resurging Inflation Fears

by Wolf Richter • Jun 7, 2023 • 102 Comments

More rate hikes are on the table. “Overall, excess demand in the economy looks to be more persistent than anticipated.”

Fast QT, Fewer Rate Hikes? Bank of Canada Has Shed Nearly Half of Pandemic QE Assets. And QT Continues Despite “Pause” in Rate Hikes

by Wolf Richter • May 12, 2023 • 124 Comments

It unwound 46% of all assets it had added during the pandemic. Far more aggressive QT than the Fed’s.

The Most Splendid Housing Bubbles in Canada: Spring Selling Season in a Housing Bust

by Wolf Richter • Apr 14, 2023 • 128 Comments

Prices rose in March, but are down 17.5% year-over-year, the second-worst in the data. Sales -34% year-over-year.

The Most Splendid Housing Bubbles in Canada: March Update on the Housing Bust

by Wolf Richter • Mar 17, 2023 • 209 Comments

Year-over-year, home prices plunged by the most on record as the seasonal uptick in prices was far smaller than a year ago.

The Most Splendid Housing Bubbles in Canada: February Update on the Housing Bust

by Wolf Richter • Feb 16, 2023 • 114 Comments

Hangover after a drunken party instigated by the Bank of Canada’s money-printing and interest-rate repression that turned buyers’ brains to mush.

Bank of Canada: “We’re Pausing to Assess Whether We’ve Done Enough,” Hikes by 1/4% to 4.5%, QT Continues

by Wolf Richter • Jan 25, 2023 • 97 Comments

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

The Most Splendid Housing Bubbles in Canada, January Update: Prices Plunged, Housing Bust Gets Real

by Wolf Richter • Jan 17, 2023 • 122 Comments

He who panicked first, panicked best? Some charts are just kind of funny.

The Most Splendid Housing Bubbles in Canada: December Update on a Housing Bust

by Wolf Richter • Dec 16, 2022 • 109 Comments

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.

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