Canadian consumers jolted by Vancouver housing fall

From Bloomie:

A shifting real estate market in Vancouver led Canada’s consumer confidence index lower for a second week, telephone polling shows.

The share of respondents who see local real estate prices falling has almost doubled in the last two weeks, rising to 22.5 percent in the latest survey, up from previous readings of 20.5 percent and 12 percent. The share of those who see higher prices fell to below 40 percent for the first time since April.

…“Negative pressure on the perceptions of real estate value continues, particularly in the province of British Columbia,” said Nanos Research Group Chairman Nik Nanos.

Chart from Zero Hedge:

Still early days and could just be an air pocket but here’s hoping!