To all dear readers,
You ought to read this article from IMF.
Take special attention the the graphs.
As an avid stock trader myself, I’ve seen this graph way too many times and although I cannot self proclaim myself to be a stock guru, a graph like this usually comes back down….with doom.
The Canadian housing market ain’t no weed stock either, not a new industry, no promising growth…just a bunch of people churning over and over.
First search result on Google, top 10 richest city…and Toronto ain’t one of them.
A more detailed and very thorough search came up this result:
Toronto as the 13th richest city in the world….and its from a South African research firm (lols). Plus the website is from blogTO, so there’s probably some bias here too. (https://www.blogto.com/city/2018/02/toronto-new-world-wealth-2018/)
With that comparison of the top richest city in the world, here’s the list of most expensive housing in the world:
Toronto is ranked #5. Which are the top 4 then? HK, Sydney, LA, London.
Need I mention that HK, LA, London is listed as top 10 richest city? So where is Toronto in this rich list? #22.
Now you may say, Sydney ain’t top 10 richest but top 2 most expensive housing. Well I must say, Sydney is also washed with foreign buyers. Except kangaroos and a hot summer weather all year round, Sydney hardly makes a rich city, let alone a good place to live anyways.
Now what does that make Toronto in the years to come? The feds are going to make this correction a very very very long ride down because we don’t want another US 2008 housing crisis with unemployment rate higher than the rate of of the stock market crumbling!
What comes up, must come down. With full speed.
You Bitcoin lately?