http://www.greaterfool.ca/2011/10/04/fini/#comments

Consider the latest markers from Vancouver:
•Fewer than 2,250 properties of all kind sold last month. It was the third-worst September in a decade.
•Listings are exploding (as I told you they would once people smell the wind). There are 20% more than a year ago. And they swelled 21% in September from August.
•Of every 100 properties for sale, 86 didn’t find a buyer last month. That 14% sales-to-listings ratio is the lowest in a year, and the point at which buyers call the shots.
•The most dismal news for sellers is that the media’s going negative. Hell, even hormonal Global TV has awoken to the fact blood’s in the water. The piece below is part of a series on how the under-35 set is screwed, with an increasing number of people opting to escape from Vancouver. Apparently there are places in Canada where you can afford a house without having to sell your children into bondage. This is news west of those big stoney things.

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Canadian consumer has the highest debt-to-earnings ratio in the OECD (155%), there are many reasons to question the underlying assumptions of the Canadian banking system. If Canadian lending practices are so much better, why mortgage debt relative to income is actually higher right now?