Below are two graphs that look like they may have something in common. The first is from Whisperer's blog. We have posted it a few times here, and it shows how a mania unfolds in a graph.
I admit I have had trouble identifying where we were on the slope, but things may be a bit clearer now.
The second is the SFH average price for Vancouver. You judge.
Sure looks like you can lay them on top if each other. Of course life is never that straight forward
ReplyDelete5 waves up are: 1998-2000 (wave 1), 2000-2001 (wave 2, correction), 2001-2007, 2007-2009, 2009-2011.
ReplyDeletehttp://en.wikipedia.org/wiki/Elliott_wave_principle#Elliott_Wave_personality_and_characteristics
And we got a double top. The only question is how long and far this will go.
Comparing to the bubble graph, it seems like the 'take off' phase occurs around 1988.
ReplyDeleteWhat do you think? Will history peg the start of our bubble as 1988?
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DeleteI guess you can count it many ways
ReplyDeleteBut 1988 would make sense
If we break Down another 4-5% this goose is getting cooked imvho
The MSM is finally coming to the understanding of what a liability monster we have in the CMHC :
ReplyDeletehttp://www.theglobeandmail.com/report-on-business/economy/housing/ottawas-800-billion-housing-problem/article6732755/?page=all
I'll just leave this here:
ReplyDeletehttp://www.etymonline.com/index.php?search=tory
BTW, the Whigs aren't much better. My etymology book says it's Scottish for "horse thief".
Leave it to the British to name their two major parties so appropriately. It's a pity we've rebranded them.
One day away from 2013... Year of the "Fear".
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