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Summer Holiday Season

Sorry for the infrequent posts, its just that there's not much to talk about up here in the great white north!

Anyway, Canada's "Case Shiller Index" the Teranet - National Bank House Price Index came out today, guess what, house prices are up again (+1.3%) for May 2011 (for a total of Y0Y _4.4% increase in prices) -- shock and surprise, below is a reproduction of the 6 city national index




So that's about it, Canadian prices continue to rise.  Oil is at $99/bbl and despite the strength of oil prices the only city that is lagging in price rise in Calgary -- Canada's "oil town".  Vancouver which is already one of the world's most expensive real estate is the big winner with a 6.6% increase in price, followed by Montreal at 6.3%.

Another argument for Mark Carney, the Governor of the Bank of Canada.  Although events south of the border would seem to preclude any increase in Canadian interest rates.

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