View from the pit

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  1. JspitzerMEMBER

    Buy in gloom, sell in boom. Record margin debt, record valuations, no new high rut/Nasdaq/transports, Hindenburg omen, crashing macro, crashing yields and oil. China credit crunch. Aus housing already over the cliff. No more shorts around.

  2. Greater Toronto is Canadas largest metro with a population of about 6.6 million …

    Early numbers hint at larger decline in GTA home sales: expert | CTV News

    http://www.ctvnews.ca/canada/early-numbers-hint-at-larger-decline-in-gta-home-sales-expert-1.3466439

    Toronto’s suddenly dipping housing market appears poised to decline at a higher rate, according to early June numbers from one real estate expert.

    John Pasalis, president and broker at Realosophy, says early sales numbers for the month continue to trend downward, indicating a potentially sharper drop in the Greater Toronto Area than the 20.3 per cent dip reported year-over-year in May. Overall, the numbers indicate Toronto’s once skyrocketing housing market is coming back to Earth under new provincial taxation rules on foreign buyers.

    According to numbers posted by Pasalis on Twitter, freehold home sales plunged by 47 per cent year-over year for the week of June 10-16, while condo sales dropped by 24 per cent. Those declines are even sharper than his numbers from the first week of June, when the numbers declined by 44 and 22 per cent, respectively. … read more via hyperlink above …

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