Where are the foreign investors in this phenomenon?
Vancouver prices drop. Toronto down 3.7% from peak, flat for 10 months. Winnipeg plunges most since at least 1990. Quebec City flat for 6 years.
Why a US-Style Mortgage Crisis Can Happen Anywhere.
But this new and horrendous house flipping operation inflated revenues “more than expected.”
Now even the surface of the market has softened, not just the underlying dynamics.
House prices set post-collapse record in Miami, flatten out in Las Vegas, Phoenix & once red-hot Charlotte, linger below Oct 2018 levels in Washington, DC & Chicago. Cincinnati & Detroit in a show of their own.
Condo prices fall year-over-year in New York. In San Francisco, SoCal, & Seattle, year-over-year price gains shrink to nearly nothing. Despite the hype, Boston prices decline. Denver, Dallas & Atlanta eke out records.
So Sales Finally Tick Up.
There is plenty of supply, but it’s the wrong supply, priced too high.
Los Angeles population drops, San Francisco & Silicon Valley population rises least since 2010, North Bay’s population drops.