pitaking

Canadian Real Estate Slows Inexorably- Part III

I'm sorry but this article is completely off base. The thought that despite a massive recession and free fall in commodities and the loone, our housing market will somehow decouple from the rest of the worlds housing bubble bursting is crazy. Where ever you found your numbers for the Calgary area is way off. I've just sold my house at a nice profit because it won't be there in 6 months. Alberta was absolutely a bubble and it has popped. Prices are in a free fall, buyers are drying up and speculative money is dumping houses and condos as fast as they can. Bring up any Calgary or area newspaper listings and the most listed phrase will be "price reduced". To top it off, home builders are now dumping their huge glut of recently built and not selling homes at a 15-20% discount to the rest of the market, killing anyone with a resale. As layoffs mount, this will get worse, bottom drops out in spring/summer 09, 30% drop is very realistic.

More On Alternative Methods For Measuring Housing

I live just outside of Calgary and we are looking at well over 10% drops in recent months. There is a ton of unsold inventory and very few buyers. If oil doesn't rebound to 60-75$ range this market is prime for a free fall.

Wednesday Outlook: Commodities, Emerging Markets

Gabe, there is no way we see 20K on the dow any time in the near future. I'm playing this from the long side for a Obama/Santa rally but it will be a bear market rally and nothing more. Buy your oversold's this week but don't fall in love yet, this won't be some crazy V reversal.
Disclosure LVS, ACI, X, FCX

Wednesday Outlook: Bulls Storm In

Gabe, can we call your rally dead?

Wednesday Outlook: Bulls Storm In

Gabe, you are crazy. How would an implosion in Europe and emerging markets signal record rally? This market is still going lower, it's a good oppertunity to add to your SDS, DXD ect...Love the charts, this is the best thing on this site.