My friend Ted sent me two data points today: Canada GDP + 6.1% and India GDP + 8.6%.
Wow. Steamy. I immediately realized that I'd recently read a story about not the overheating economy, but ACTUAL overheating in India (temperatures in excess of 120 degrees!), and out of control forest fires in Canada. Talk about bringing the metaphor of the "overheating economy" to the real world...
Related: MISH "Housing in Canada; Housing Crash Is a Given"
"Canadians are spending more and more of their disposable income on housing. In Toronto, 44% of disposable income goes to housing and in Vancouver the figure is a whopping 68%. The trend is likely not sustainable."
"The trend is likely not sustainable...." Understatement?