Saturday, March 4, 2017

Toronto housing sales give mixed signals

The hypothesis was that Toronto was following Vancouver due to the withdrawal of hot money.  The latest chart shows some blips that putting cracks in the hypothesis.  However, the listings are still way down, and that is a strong indicator.

The very thin listings make the price blips somewhat questionable.  I'm still sticking with the hypothesis of a crash.  We'll wait for March.

ps.  if you combine volume with price you'll see that there has been a tremendous amount of money withdrawn from the market in the past year.  That's the 'smart money'.  Dummies are left to pick up the pieces.

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