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May 28, 2020 | Falling Rents: Good for Tenants Bad for Levered Landlords

In December 2017, the Bank of International Settlements (BIS) reported that Canada’s highest population areas were home to the most over-valued realty prices, relative to rents and income, of anywhere in the world. According to a recent CIBC and Urbanation study, 48% of all newly completed condominiums in the greater Toronto area since 2017 were purchased […]

May 28, 2020 | Real Estate Stats Show Big Wave Of Refinancing Is Coming

Current data released for the May Real Estate and Consumer Spending activity suggests a wave of refinancing is taking place – and not much else.  Pending home sales slipped to 69.  That level is 7.4 points below the lowest level in 2010 – at the height of the 2008-09 credit crisis that collapsed the global […]

May 28, 2020 | The Big Story is China

Gold, Oil, US Dollar, and Pot.

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May 28, 2020 | What Happens When Debt Payment Stops?

Do you really need to live in a big city anymore?

May 28, 2020 | Is Rio Tinto the New Scandium Bug?

Will Little Bear ever grow up?

May 27, 2020 | Global Debt Default

QUESTION: Dear Martin, I do not speculate on whether the current situation has been orchestrated intentionally or not. This to me sounds more like the case for 9/11 you often described. They knew in advance that a “pandemic” could come any time, and they took advantage of the very first virus spreading around as the perfect […]

May 27, 2020 | How to Navigate Uncharted Waters? A Compass Made of Gold…

All the “off the charts” economic and financial data we’ve seen this year makes it blindingly obvious to any honest observer that investors are in uncharted waters. Employment, manufacturing, retail sales… in stat after stat, the shutdown of the global economy has broken the trends economists include in their models. Just look at how exceptional […]

May 27, 2020 | Boeing is the Tip of the Layoff Iceberg

Boeing announced more layoffs after recording zero orders but 108 cancellations. Boeing announced over 12,000 Layoffs in the wake of plane cancellations and dearth of new orders. Boeing Co (BA.N) said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of […]

May 27, 2020 | Canadian Credit Cycle Starting to Bite

As Canadian banks begin reporting their second-quarter earnings this week (for Feb thru April), Bank of Nova Scotia was first on deck with a 39% drop in profits and a 111% increase in loan loss provisions. Since business lockdowns and layoffs only surged in the latter half of March, half of this quarter was still pre-COVID-19. […]

May 27, 2020 | The Covid reset

Source: The Canadian Press The virus is an agent of change. The transformation of society’s happening a lot faster since the pandemic came to town. Who knew a bug could do this? Look at the headlines… The country’s biggest newspaper – in fact a company with real estate, presses, 4,000 employees, half-a-dozen dailies and 70 […]

May 27, 2020 | Which Political Parties Asking for Taxpayer Bailouts?

  • Kris Sims –  Even during an emergency, governments finding ways to waste money

May 27, 2020 | BC NDP Doing Little to Help Employers

  • Jordan Bateman – Greens sexist anti-infrastructure policy hurtful to economic recovery

May 27, 2020 | Vaccine Related Pump and Dump Warning

So called re-opening of economy really isn’t much

May 26, 2020 | Is Gates Stupid or Very Clever with Vaccines

QUESTION: Dear Mr Armstrong I was in a discussion with a friend about current affairs – me, against Bill Gates and the likes and him, taking a more neutral stance. He asked if I watched some or anything he actually said. I said yes, well at least what you have posted I have watched in […]

May 26, 2020 | All Heaven Breaks Loose to Start the Week

All heaven broke loose ahead of Tuesday’s opening, starting with a gusher of headlines suggesting the worst is behind us. The Wall Street Journal led with a story about how trucking activity has picked up, and even the hotels and cruise lines are stirring. The pick-up in tempo is slight so far, as the Journal was forced to concede, […]

May 26, 2020 | Author of Bailout Nation Gets Bailout

Barry Ritholtz, Author of Bailout Nation, just got a bailout. Please note the $1.3 billion Ritholtz Wealth Firm Takes Out a PPP Loan. Count Ritholtz Wealth Management among the $1bn-plus RIAs which have taken out government-backed coronavirus relief loans. Reformed Broker Under Pressure The RIA’s chief executive, Josh Brown had this to say in a Reformed Broker blog […]

May 26, 2020 | Reopening is Not Business as Usual

As many North American businesses move to reopen with social distancing this month, China offers a glimpse of why business-as-usual is unlikely to follow. After a strict lockdown bent the spread of COVID-19 in April,  China has reopened schools and businesses and was operating at 87% of typical output on May 12, according to the […]

May 26, 2020 | Bad Dog

There was panic in the PR department over at Re/Max and Royal LePage last week. They might even had a picture of bad dog Evan Siddall on the wall, with a few bullet holes in it. (Okay, dart punctures, maybe.) Used to be that the fed agency, CMHC, was just a big squishy, real estate-friendly […]

May 26, 2020 | Is A Blow-Off Top Setting Up

Our research team has become increasingly concerned that the US Fed support for the markets has pushed price levels well above true valuation levels and that a risk of a downside price move is still rather high.  Recently, we published a research article highlighting our Adaptive Dynamic Learning (ADL) predictive modeling system results showing the […]

May 26, 2020 | Realty Reawakening Begins

A Month Matters…Alot

May 26, 2020 | Elected Aboriginal Councils Betrayed by BC NDP

Alberta Energy Minister criticized for telling the truth

May 26, 2020 | Shortage of Physical Gold and Silver

Stock Markets turn to areas ignored until now

May 25, 2020 | US Crowds Defy Lockdowns

Americans are defying the lockdown orders throughout the country from California to the Atlantic Seaboard. People have discarded their masks which the CDC originally stated will not prevent getting a virus of any kind. Politicians are going to find that at least 33% of the population is thumbing their noses at government and see this […]

May 25, 2020 | Holiday Weekend Was More Spectating Than Spending

  A recent newspaper article about superspreaders — stadium events, concerts and outdoor festivals that effectively bathe crowds in Covid-19 — noted that a boisterous fan can spew viral particles that remain airborne for as long as 12 minutes.  There’s additional evidence that when we steep in this microscopic spume for a couple of hours, […]

May 25, 2020 | Fitch: Customers Leaving Equity Funds Means Lower Revenue for Financial Sector

  With the Canadian TSX today virtually unchanged from its April 2008 peak, even the most steadfast buy and hold investors have reaped zero capital gains over more than 12 years of risk and just 1.7% annually since the prior cycle peak in July 2000.  Those who bought GICs and government bonds over these same […]

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