I have run several stories in the past about Canada’s housing bubble because I have visited a number of Canadian cities over the past few years and all of them seemed to be building like mad. Vancouver and Toronto were the worst of the lot as far as condos go. But, as the [...]

Canada, along with Australia, ranks as one of the two last major bubble markets to remain relatively immune to the types of house price falls we have seen in the UK, Ireland, the U.S. and Spain. Yes, there has been some damage in Alberta, where prices had been rising too rapidly. But the [...]

The global economy is in the relatively unique but unenviable position of being bullied by both recession and inflation at the same time. This leaves central banks in a bit of bind. The Federal Reserve has thrown all caution to the wind and cut rates in a reflationary ploy rivaling its actions during [...]

Canada is one of the last bubble markets to hit the wall. Buoyed by the commodities boom in the west, Canada looked set to keep on an upward path even while its largest trading partner, the U.S. had already started to see a bust. But, evidence of the housing slowdown is everywhere in [...]

For the first time in 9 years, year-on-year prices in Canada are down. With the largest province, Ottawa Ontario, in a recession, it is no wonder that house prices have followed suit.
Canadian home prices have started falling, marking the first decline in almost a decade, according to the Canadian Real Estate Association.
The Ottawa-based [...]

Ontario’s economy shrank last quarter with GDP adjusted for inflation declining by 0.3%. With the largest economy in Canada in tatters, the mining boom in Alberta and BC is ever more important.
From the Globe & Mail:
Ontario’s economic growth dipped into negative territory during the three months ended March 31, putting Canada’s largest province well [...]

This from the Financial Post.
The note from Blackmont analyst Brad Smith followed news late on Friday that Moody’s Investors Service had downgraded XL Capital Assurance. CIBC has exposure to XL Capital since the bond insurer provides it with guarantees on some investments.
“Based on this downgrade and XLCA’s credit default swap spreads … we expect CIBC [...]

I have been following a story for a few months in the Canadian Press on Transat, a tour operator. I hadn’t reported on it until now because they were just bailed out. It seems they have gotten tangled in the ABCP (Asset-Backed Commercial Paper) market. The market has become frozen and they are [...]

The Globe & Mail has a storyline out today that caught my eye. It suggests that Royal Bank of Canada (RBC) would find some god takeover opportunities in the US. While I dismissed a similar storyline regarding UBS in Europe from the Financial Times, the Globe & Mail story does make sense.
This past [...]

Canada has experienced a housing boom, not unlike many other English-speaking countries globally. According to the Globe and Mail, housing prices have doubled there nationally in the last 10 years. So, what are the prospects for Canadian housing and for the Canadian economy going forward?
The prospects for Canada certainly are better than [...]