by Mish

What will $1 million buy in Vancouver, Canada – A Crack Shack or a Mansion?

You make the call.

I got 10 out of 16 correct.

Please click here to play Vancouver Crack Shack Or Mansion.

Canada For Sale Listings Hit Record High

Inquiring minds note Canadian homes for sale hits record in March

The number of re-sale houses on the market in Canada hit a record in March, with the new supply helping ease price pressures in the market, the Canadian Real Estate Association said.
Some 97,663 properties were listed for sale on the Multiple Listing Service in March, that’s 20% higher than the previous March record set in 2008, CREA said.
A total of 233,402 new listings have come on stream since the beginning of the year, and that’s more than any other first quarter on record, it said.
The association said that while demand remains strong, there are signs the market is cooling off from the record-setting pace of the fourth quarter.

That is exactly how the bust started in the US: record units for sale with demand still strong. A few short months later demand collapsed while supply soared.

Mike “Mish” Shedlock

Hard-Boiled vs Soft-Boiled Economic Egg Debate: Cracking the Shells

I have commented for months that soft economic data from various diffusion indexes does not match actual economic activity.

Obamacare Replacement an Impossible Nut to Crack

Obamacare replacement looks all but dead in the Senate. If by some magic it passes the Senate, it will still have to meet House approval.

Cracks Appear in Philadelphia Fed Regional Manufacturing Report

Actual industrial output has been far weaker than the regional Fed manufacturing reports and the ISM report for at least a year.

Non-Manufacturing ISM Cracks Appear: 8 of 18 Industries in Contraction

The non-manufacturing (services) ISM is still growing but prices and new export orders both plunged into contraction. Moreover, 8 out of 18 industries fell into outright contraction.

India Accepts Oil From Iranian Tankers: First Major Crack in Trump Sanctions

India puts the first major crack in Trump's Iranian sanction play. What's next?

Poll Shows Americans Overwhelmingly Want to Crack Down on Sanctuary Cities: Or Does It?

Citing a Harris-Harvard poll, The Hill reports Americans Overwhelmingly Oppose Sanctuary Cities.

Near panic at the Fed

There is near panic at the Fed. You can see it in their statements even if you can’t hear in their voices.

Medallion Bubble Bursts: Taxi Protest Down and a US Price Collapse

If you are in the taxi driving business and paid a lot of money for a medallion or license, sell it while you still can, if you still can.

How to Lose 50% in a Day on ETFs: Trade of the Century

With options and futures, you can go broke and then some in minutes. Thanks now to leveraged ETFs you can produce some amazing results in a day.