Canadian real estate avoided US boom-bust. Now what?
Canada has had a stronger rebound,. But, as in the US, real estate appreciation is slowing.
Canada's housing prices haven't gone through the bome and bust that America's have.
SoldAtTheTop
Teranet/National Bank of Canada produces a complete line of Canadian home prices indices using the same repeat sale methodology as the S&P/Case-Shiller allowing for an interesting comparison against home prices here in the US.
Mashing-up the Teranet/NBC Composite-6 index to the S&P/CSI Composite-10 both rebased to the year 1999 provides a pretty decent “apples-apples” comparison as both the Teranet/NBC Composite-6 and S&P/CSI Composite-10 share the purpose of narrowly including just the top largest metros for their respective country.
Looking at the chart (click for full-screen dynamic version) you can see that while the Teranet/NBC index is currently showing a pretty exceptional rebound with annual percentage increases of nearly 10.39%, it still has a ways to go in order to match the pre-bust US levels.
Further, both series are showing a notable slowdown to price appreciation on a year-over-year basis.
Browse the full catalog of Canadian home price indices provided by Teranet/National Bank of Canada.
Writer, The PaperEconomy Blog
'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
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U.S. vs Canadian Housing Price Mashup!: August 2010
from Paper Economy - A US Real Estate Bubble Blog by SoldAtTheTop
Teranet/National Bank of Canada produces a complete line of Canadian home prices indices using the same repeat sale methodology as the S&P/Case-Shiller allowing for an interesting comparison against home prices here in the US.
Mashing-up the Teranet/NBC Composite-6 index to the S&P/CSI Composite-10 both rebased to the year 1999 provides a pretty decent “apples-apples” comparison as both the Teranet/NBC Composite-6 and S&P/CSI Composite-10 share the purpose of narrowly including just the top largest metros for their respective country.
Looking at the chart (click for full-screen dynamic version) you can see that while the Teranet/NBC index is currently showing a pretty exceptional rebound with annual percentage increases of nearly 10.39%, it still has a ways to go in order to match the pre-bust US levels.
Further, both series are showing a notable slowdown to price appreciation on a year-over-year basis.
Browse the full catalog of Canadian home price indices provided by Teranet/National Bank of Canada.
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