Update: Japan sinks into recession
Citibank slashing more than 50,000 jobs
85,000 homes were lost in October
Click above for details
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Email of the Day:
Fort McMurray is ridiculous……even now. Renting a 2 bedroom condo is $2500 or more a month and renting a house is $3500 plus. Of course, after listening to you we cancelled our condo purchase and real estate sales here are slowing and prices a bit lower but not much. A 2 bedroom condo is still $500,000.
I think this bubble will be the last to burst.
Crabby in Fort McMurray
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(Thanks to Al Vucic) Original source, Traders Narrative
The data is normalized with 100 being the long term average. Here are some quick take aways:
- Japan’s real estate continues to slide into an abyss
- US housing market doesn’t seem so bad now, does it?
- not surprised to see Spain at the top but am surprised at Canada being second
- data hides a lot of regional disparities – for example, within the US, Florida and California would trump Spain
- Ireland is ahead of other markets in correcting – but it also started earlier
- Mr. Greenspan, what happened around 2000? seems to have been an inflection point there
