Friday, June 13, 2008

Technical signs flash warning for "Toronto" house market

Of course, it's all part of a pattern which was evident to me - and anyone else with a grasp of reality - months ago. Sales volumes crash first, prices later. In fact, an analysis of the last Canadian housing declines in the Eighties and early Nineties shows the pattern clearly - the greatest of fools are those who are tricked by numbers, blinded by greed, and buy into a market where prices are high and sales thin.  Garth Turner
I would add the household formation in Canada is about 180,000 and we have been building about 220,000 this decade..
The Toronto composite high weighting in energy in holding the index, while most sub-indexes are headed lower...


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