MY OPINION: Our Governments have been selling us out to the highest bidder for years ! now we the people need to pay for it generationally. Great Canadian Economic Housing Tsunami has turned us to Canafornia
Global Real Estate Downturn Can Kill Growth, Canada Most Vulnerable: Ox Econ
OCTOBER 25, 2022 , Better Dwelling !
Global real estate is entering a downturn that will kill growth, and it’s the worst in Canada. That was the gist of numbers from Oxford Economics today. The macro-research firm crunched the numbers on housing as a share of GDP, and Canada had the highest share. As home sales and building slows, this will leave the economy with the slowest share of growth.
A Global Housing Slump Will Kill Economic Growth Everywhere
Oxford Economics sees a global economic slump coming. They blame a negative wealth effect, falling residential investment, and tighter credit. Countries with the largest share of housing investment will see the biggest impact.
“If we rank each economy according to these three factors and average the ranks, the most vulnerable economies look to be Canada, Taiwan, Finland, and New Zealand,” said Adam Slater, a lead economist with the firm.
Canada Is The Most Vulnerable Economy Due To Its Real Estate Addiction
Canada is more addicted to housing investment than any other economy. Residential investment peaked at 9.0% of GDP from 2020 to 2022, the highest share in the world. In a distant second is Taiwan (7.6% of GDP), followed by Finland (7.0%), and New Zealand (7.1%). It’s significant when almost 1 in 10 dollars of an economy’s output is just sheltering people.
The same monetary policy mistakes were echoed around the world, but not all economies are in a bad place. Notable exceptions to housing dependence are Japan (3.5%), the US (4.2%), and Italy (5.1%). “Here, housing investment as a share of GDP is below average for the sample, well below pre-GFC peak levels, and in the case of Japan also lower than the 10-year average,” said Slater.
Canada’s combination of highly indebted households and housing investment are a problematic combination. As interest rates rise, households won’t be able to continue absorbing home prices as easily. Demand falls until prices drop, having a disproportionate impact on GDP.
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It's crazy Mike isn't it I've been watching your channel for years my wife and I on the same page with you. I told my wife I can't compete with money laundering and drug and salt n pepper aka fake income for loans ect for years. It's bitter sweet isn't it….. your on the ball preach it brother!!!!!!
Kanada for sale.
canafornia and amerifornia love it
Bigger problem is foreigners thinking that there’s no such thing as exchange rates so Indians are asking Indian prices but in Canadian dollars
Great stream, as always. I appreciate the level-headed approach you take to the news and the markets. . A lot has changed and that's on everything but the truth is I don't even care much about bullish or bearish market anymore because FLOYd JOHNSON y got me cover as I am comfortably making $150,000 monthly….
Mike one thing you are missing out is the Crown Land. What the government will do is simply unlock the crown land like it use to be. Than affordability issue will disappear in air. In Bc all cites are surrounded by crown land that is locked by the government once the government release the land for development and start selling directly to the owners all this will fix itself in no time. Let's not forget We are in the second largest country in the world and we basically have no population. BC is not the small island of Hong Kong there is sooooo much land that with a piece of pan and papper you can solve this in no time. But people will have to accept that they won't be able to become a millionaire simply by buying a house and waiting for 10 years. They will actually have to work for the money. Soo all the free money will disappear. This is the dilemma.
Thank you Mike
Great video…. But just sit still brother 😂
While the whole world is now watching the war in Europe, Digital ID currency is probably next. It's crazy, you're so right.
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The problem is all levels of government has cashed in on the cash cow called real state. On average there’s $100.00 worth of fees per sq ft.
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Get rid of librals AND NATO WEF AND DEMS
We need a different gov't