Garth, who just decided not to run for the liberals in the next election, thinks the Canadian bubble is just about to pop. Read his numbers. Its hard to disagree. Peacenik doesn't.
by Garth Turner
Toll of the loonie:
Manufacturing takes a big dive.
There are 7,952 houses for sale in Jacksonville. That Florida city has a population of about 820,000 and an average temperature of 76 degrees.
By way of contrast, the GTA has 15,984 properties currently for sale and 5.5 million people living on the north shore of Lake Ontario. This week the average temperature is 7 Celsius. I mean, what’s to compare?
Other than this: There’s one house for sale in Jacksonville for every 100 people. In Toronto, there’s only one active listing for every 345 residents. And, given the laws of supply and demand, you’d expect real estate to cost more in Toronto, even if the climate sucks. And they both do.
Read on...
