Many economists balk at using the “B-word” to describe Canada’s housing market. Gluskin/Sheff’s David Rosenberg doesn’t. And remember, he was the guy who called the U.S. housing bubble.
In a report out this week, Mr. Rosenberg describes the different real-estate market landscapes on either side of the Canada-U.S. border–”bubble versus the rubble.” The discrepancy continues to widen. On Thursday, Canada’s statistical agency said new home prices in May rose 0.3% month-over-month and 2.4% year-over-year...............................................Full Article: Source |