“After the cataclysmic mid-2000s housing bubbles in the U.S. and European PIIGS nations, one would think that the world would never allow another housing bubble to rear its ugly head again. Unfortunately, this thinking is completely wrong. Since 2008, the world has openly embraced new housing bubbles with astounding vigor in complete defiance of all lessons taught by the Global Financial Crisis.” …
[Amongst accounts of about 16 RE bubbles, the following:]
“Canada’s Housing Bubble
Canada is experiencing a classic bubble economy that is driven by a commodities export boom (which is part of the commodities bubble) a massive housing bubble that is larger than the U.S. housing bubble was at its peak, a consumer debt bubble and global “hot-money” investment inflows.
Canada’s bubble economy is driving a U.S. export boom that has helped the U.S. economy recover from the Great Recession – this is just one of the many reasons why the U.S.’ recovery is actually a “bubblecovery.”
Canada’s housing bubble is now nearly 40% larger than America’s bubble at its 2005 peak. Price-to-rent ratios, a common real estate valuation measure, are flashing clear warning signs of a bubble as well. Even the IMF is warning of a Canadian housing bubble (but seems to understate the extent of the bubble and its risks as “official” organizations tend to do).
Vancouver homes are now pricier than NYC homes, thanks partly to Chinese investors. $1,050,000 will only buy a tiny house that is merely “livable” in Vancouver, where median real-estate prices are an astounding 9.5 times median household income.” …
“The world is experiencing a massive Post-2009 Housing Bubble that will pop and finish where the U.S. and PIIGS housing bubbles left off in 2008. The global economy has “recovered” from the Great Recession on the backs of more housing bubbles – this is why I call the recovery a “bubblecovery.” Believe it or not, the Post-2009 Global Housing Bubble has the potential to grow larger due to global central banks’ incredibly stimulative monetary policies that have been implemented as a response to the Global Financial Crisis. When this epic pan-country housing bubble finally pops, it could conceivably throw the world into a devastating depression.”