Canada's Hot Economy Tops Forecasts (again)

[Rickson9]

"The Canadian economy expanded by a stronger-than-expected 6.1 per cent in the first quarter, the biggest increase in a decade, boosted by a hot housing market and consumer spending.

"The country’s gross domestic product grew at the fastest annualized pace since 1999. It has expanded for seven months in a row and climbed 0.6 per cent in March, Statistics Canada said Monday."

http://www.theglobeandmail.com/report-on-business/economy/canadas-hot-economy-tops-forecasts/article1586464/

[trent]

"The Canadian economy expanded by a stronger-than-expected 6.1 per cent in the first quarter, the biggest increase in a decade, boosted by a hot housing market and consumer spending.

"The country’s gross domestic product grew at the fastest annualized pace since 1999. It has expanded for seven months in a row and climbed 0.6 per cent in March, Statistics Canada said Monday."

http://www.theglobeandmail.com/report-on-business/economy/canadas-hot-economy-tops-forecasts/article1586464/

Did you get the real message from what you posted? If not I'll do it for you:

1. Consumer spending
2. Hot housing market

# 1 is entirely fueled by home refinancing, as wages are stagnant or falling and unemployment is very high. So it all boils down to a "Hot housing market" :). How long do you think this will continue, a few more weeks?

I bet that the average house price in Vancouver, Toronto and Calgary will be down 10-15% by the end of the year. I almost forgot to mention that this is a very conservative estimate ;).

[Rickson9]

Did you get the real message from what you posted? If not I'll do it for you:

1. Consumer spending
2. Hot housing market


Yes, yes, as opposed to the increase in the Canadian economy due to the altruistic goodwill actions of society...

I bet that the average house price in Vancouver, Toronto and Calgary will be down 10-15% by the end of the year. I almost forgot to mention that this is a very conservative estimate ;).

Wait a second, I think I've read something like this before... :rolleyes:

07-22-2009, 02:06 PM Yes, the crash is coming and you better believe it. The other thing that everybody must be prepared for are much higher interest rates. Are you ready?

12-09-2008, 01:21 PM The Toronto market is going down, and no amount of wishful thinking can change that.

11-24-2008, 02:29 PM Vancouver was and still is, one of the greatest real estate bubbles worldwide, and as such is due for a nasty fall.

07-15-2008, 04:23 PM Obviously the Canadian government is really scared of the future of Canadian real estate (read: "The coming Canadian real estate collapse") and they are trying to prevent it. Too little, too late as usual. The changes are not enough, and there is nothing that can stop the overpriced Canadian real estate from crashing down to earth.

[trent]

Oh, I'm sorry Rickson did I offend/upset you with my too-early call on the housing crash . If you don't believe me look at the sales numbers for May 2010 compared to May 2009 (hint: they are way down). Also look at the super-huge inventory growing by the day and you'll know where this is going. You are a smart guy, you'll figure it out.

Yes, yes, as opposed to the increase in the Canadian economy due to the altruistic goodwill actions of society...



Wait a second, I think I've read something like this before... :rolleyes: