Fitch Ratings says Canada’s real estate market is as much as 20 per cent overpriced and cautions the government may need to take more measures to slow down borrowing on homes.
Fitch is the second U.S. financial agency to sound the alarm on Canadian home prices in the past week, with the Morningstar research firm predicting a 30 per cent correction was possible over the next few years.
The latest warning comes as the Teranet–National Bank composite house price index for June showed prices rose 0.9 per cent from May and were up 4.4 per cent from last year.
“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be exempt from any intellectual influences, are usually slaves of some defunct economist.”
John Maynard Keynes
Control of water as military asset:
These two subsidies will cost the U.S. federal government about $2 trillion over the next 10 years, almost all of which will go to the wealthiest Americans. Past Congresses have repealed both of these subsidies at different points in time, though they were later revived by subsequent legislation.
About 60 percent of the world’s population lives along estuaries and coastal areas Of the 32 largest cities in the world, 22 are located on estuaries 90 percent of Europe’s international trade passes through estuaries and their adjacent ports Coastal recreation and tourism generate between $8-$12 billion per year in the United States alone Often called the “nurseries of the sea,” estuaries provide vital nesting and feeding habitats for many aquatic plants and animals.
The Global Estuaries Forum brings together public institutions, the private sector, researchers, and NGOs from around the globe in an effort discuss and meet the pressing and immediate challenges facing our world’s most important estuaries. Follow on Twitter at @EstuariesForum.