#First-time buyer

Back in 2005, anyone with a modest amount of startup capital and a dream could become a millionaire flipping houses.  The complete disregard for the underlying risk building up in what was later exposed as one of the biggest pricing bubbles in history resulted in investors dominating a market that

Brexit budget - Grim outlook as UK economic forecasts downgrade - UK Chancellor uses housing market policy as smoke-screen for deteriorating economy- UK budget matters more than ever due to BREXIT risks- Policy on stamp duty will fail to aid worsening housing market- Real GDP expected to grow by

On the heels of homebuilder optimism tumbling to 8-month lows in July, existing home sales slumped in June (down 1.8%, more than the 0.9% decline expected) to the second lowest SAAR this year. Existing home sales are now unchanged since September, but we note that average prices are up 6.5% YoY.

What a difference a year makes. In January of 2016 horror stories were beginning to emerge about what would soon be confirmed as the biggest housing bubble in Canadian history, courtesy of a massive flood of Chinese "hot money" flooding into  Vancouver, which quickly became one of world’s hottest

Despite soaring mortgage rates, tumbling affordability, and crashing mortgage applications, existing home sales soared to fresh cycle highs. At 5.61mm SAAR, this is the highest existing home sale print since Feb 2007 (+0.7% MoM vs -1.8% exp). Sales increased 18.2 percent before seasonal