A massive glut of unsold condos will ruin the Toronto housing market Published by Hilliard MacBeth on Aug 30, 2024 A massive glut of condominium apartments in Toronto threatens to sink the housing market. Condominiums were gobbled up by aggressive, highly levered speculators as a way of participating in the housing boom with minimal capital outlay. But now those apartments... Read more
A Trump or Harris win could lead to very different outcomes Published by Hilliard MacBeth on Aug 23, 2024 The U.S. election is less than 80 days away. The race is a dead heat, but only one of them will win and the impact on markets and the economy may be very different depending on who wins control of the White House, the House of Representatives and the... Read more
Inflation will be sticky and keep interest rates up Published by Hilliard MacBeth on Aug 16, 2024 U.S. consumer inflation has returned to normal. This week’s 2.9 percent year-over-year gain for the CPI is not low in the historical context. Expectations for more good news on inflation are unrealistic outside of recession. And interest rates will not... Read more
The stock market correction is a warning sign Published by Hilliard MacBeth on Aug 09, 2024 U.S. stock markets crashed from Friday last week through Monday this week. High flying tech stocks cratered as well as the broad indexes like the S&P 500 and Japan’s Nikkei. Was this a crash of the large-cap technology sector, or does it signal the broader... Read more
Recession in the U.S. is coming soon Published by Hilliard MacBeth on Aug 02, 2024 The Federal Reserve delayed cutting rates this week while ignoring signs of a pending recession. The U.S. economy is slowing rapidly and there is a multitude of clues that the U.S. will enter recession before the end of this year. The Federal Reserve... Read more