March 8, 2021

Home prices in Canada are falling, and some homeowners could be in serious trouble

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By Wolf Richter, Wolf Street From Business Insider With Canada’s home prices no longer guaranteed to soar, and with debt at record levels and growing, households are exposed to higher rates. The Bank of Canada has raised rates twice this year by a quarter point each time. But even these tiny baby steps push up […]

Australia’s east coast has a ballooning oversupply of houses

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By Wolf Richter, Wolf Street From Business Insider Investment in the Australian housing sector has become a frantic activity, and prices have soared. This has been accompanied by a construction boom, particularly of large multi-family developments. But that construction boom is now creating a ballooning oversupply “up and down the East Coast of Australia,” warns Roger […]

Miami’s condo market is coming under severe stress

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By Wolf Richter Wolf Street From Business Insider The Miami-Dade County condo market is coming under severe stress, and turmoil is spreading. There are two aspects: supply and sales activity overall, and the more obscure but highly indicative “preconstruction market.” Preconstruction condos are a favorite playground for condo flippers. They buy the units before construction […]

Freight rail traffic is collapsing

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By Wolf Richter, Wolf Street Total US freight rail traffic, as measured in carloads and intermodal units, fell 6.1% in the week ended October 8, from the same week last year, the Association of American Railroads reported today. It was down 10% from the same week two years ago! Both of its components were down: Carloads […]