Merck, Samsung Bioepis launch discounted U.S. Remicade alternative
Hot diggity damn, I won a @PopSci pin! Looks awesome guys.
Oh hell yeah! I scored one of those dope @PopSci limited edition pins
Japan counts down to the Tokyo 2020 Olympic Games
Trucker Charged in 10 Deaths in Migrant-Smuggling Case #SanAntonio
#CharlieGards parents give up legal battle on childs treatment
[post] Time spent watching the stock market is time wasted.
Suicide Bombers Strike Nigerian Displacement Camps #Nigeria
Polands president stopped a right-wing takeover of the court system
Trump making grave mistake attacking Muellers motives
Afghanistan: Taliban Suicide Bomb Attack Kills 35 in Kabul
Watson is junk: Waterloos OpenText hops on the AI bandwagon with Magellan via @fptechdesk
Fly from Africa to Europe for just $25? Ryanair is offering an epic flash fare sale
It will never get old. I am humbled and blessed to be here. @POTUS
Giuliani breaks with Trump: Sessions was right to recuse himself from Russia probe
Want to increase your creativity? Hit the gym! →
Trumps favored adjective for the GOP health plan remains great. @KevinQ @emilymbadger
France ready to negotiate with Google on back taxes: minister
A new app in Pittsburgh works like a citizen’s arrest for foul odors
Alphabet earnings beat estimates
Trump Demands Republican Senators Vote to Repeal “Nightmare” Obamacare
Trump’s Deportation Plans Are So Bad That an ICE Agent Just Leaked to The New Yorker
What Europes disunion, and the rise of populism, means for democracy:
Machu Picchu was rediscovered on July 24, 1911 by Hiram Bingham, an American historian.
Chipotles price to sales ratio is now less than half of McDonalds. $CMG $MCD
Federal Tax Collections
i asked for Yellowstone hot spring accident reports. i got feet pics
Trump warns GOP senators one day before vote: You must keep your promise to repeal ObamaCare
Alphabet profit slumps on record $2.7 billion EU fine:
Dick Morris and his twenty-year-old headshot are down for replacing Sessions with Rudy.
LIVE: Join @nicoleusinclair tomorrow for the State of the Labor #MarketSummit 2017 -
Dr. David Gordon gives a guided intellectual tour of the institutes bookstore #MisesU #MU2017 @thebishoppub @mises
The UN’s New Urban Agenda Is Official...Now What? #habitatiii #un
Texas will stop jailing the poor for unpaid court fines, @mauraewing reports:
LIVE: How the #markets settled -
How do the Kenyan elections work?
Trump angrily rants that ‘Obamacare is death’ – and it backfires hilariously
Congressmen seek revenge against the CBO for making Trumpcare look bad
Why so many Singaporeans see bike sharing as a menace
LIVE: @MylesUdland tells us whats ahead for this week -
Mexico’s Economic Growth Momentum Continues in July. #SMI
GOP amendment would cut dozens of employees from CBO staff amid attacks on the office
1 killed, 6 wounded in shooting in Dnipro city via @ukrpravda_news
Philippines: Duterte ally pushes for same-sex unions, divorce
LIVE: $GOOG #earnings are a bigger drop than analysts were expecting, cost per click down -
Seeing a Roger Garrison PowerPoint in person any other earthly experience. Almost spiritual... #MisesU
Time for the worlds dankest PowerPoints! #MisesU
The highlight of #MisesU: Roger Garrisons Dank PowerPoints
The great Roger Garrison teaches Austrian Capital Theory at #MisesU. Watch
We have to prime the pump. Have you heard that expression used before?
Todays #stocks losers: $HIBB $SAM $HAS -
Todays #stocks winners: $SGMS $XRX $WBMD -
On world affairs, most G20 countries more confident in Merkel than Trump
Googles algorithmic photographers are almost as good as the real deal
Schumer: Trump used working people to get elected, then abandoned them
Investors Shy Away From T-Bill Auction With Debt Ceiling Looming via @markets
The IMF just downgraded the Trump economy
Nasdaq 100 was up for the 12th day in a row on news that Michael Phelps lost a race to a computer-generated shark.
LIVE: #BreakingNews, $GOOG down after hours -
Brazil Petrol Price Index for July: 126, previous: 128.9 (change: -2.3%) #WPI
A Curb Your Enthusiasm for millennials, by @anna_m_diamond
Tillerson thinking about resigning soon: report
LIVE: #PhelpsVsShark - Did you think it was really going to be shark? -
As of today, still roughly 20% of all outstanding DM bonds come with a negative #yield!
In actual heaven in the Massey Library! #MisesU2017 w/@16heintel
Can breast implants stop a speeding bullet?
Alphabet appoints Google CEO Pichai to board
The best of #Vancouver, #Canada for free @johnleewriter#budget #travel
Mortgage interest tax break has no effect on homeownership, study finds
Another record close for the Nasdaq
LIVE: National #healthcrisis stemming from #opioidcrisis -
Opinion: Merkel challenger @MartinSchulz too desperate, too soon #GermanyDecides
New York gets back to work (but we can talk about the subway problems later): @foxjust
LIVE: Drugmakers targeted in #opioidcrisis -
Australia breaks pledge to resettle ‘vulnerable refugees’ with close links to country: UN
LIVE: $APRN pops on upgrades, @MylesUdland offers insight -
24 July 1913, Lamas and another man near the yellow palace, Urga, Mongolia.
You down with REIT? Invest in properties.
Congress’ biggest climate denier visited the Arctic. What happened next will disappoint you.
NEW POLL: Just 27 percent think Trump will definitely serve a full 4-year term
LIVE: #ClosingBell @NYSE -
Spotify, Warner hope to strike a deal by September
Kushner says I did not collude after Hill testimony
LIVE: Heres why #WallStreet cannot save Blue $APRN -
Why talking about race on #TheBachelorette is so important: @VernaMyers
How many deaths does a natural disaster” have to inflict to get US media attention? @SoberLook @worldindata
US dollar edges up from 13-month low, aided by solid US data via @Reuters
The end is nigh for Microsoft Paint
Daily Exchange: # Dollar Closes at 18.07 Pesos #Currency
Can the ICC investigate migrant-related crimes in #Libya with no presence on the ground?
You might be able to outrun a T. rex, but only in a sprint
Jaggu bra det ble krav om båtsertifikat. Altfor unge folk som råner rundt disse dager.
U.S. home sales stumble as prices hit record high
WATCH LIVE: #Stocks rangebound ahead of big #earnings -
Donald Trump: Senate Republicans have not done their job on Obamacare
Deuces Wild!
Is the U.K. playing favorites with its new trains?
COMING UP: Watch @nicoleusinclair @serwer @MylesUdland @SeanaNSmith on The Final Round! -
Howard Dean: Trump needs psychiatric help
MCD Earnings
Putin told Trump that Russian hackers were too good to get caught: report
Theres growing consensus for a transitional Brexit period, Trade Secretary Liam Fox says
When your emergency room is in your network, but your ER doctor isnt.
Turkey drops terrorism claims against German firms, says it was a communication problem
Beautiful photographs of the oldest plants on Earth:
Peak Stuff
All you need to know about The Mooch is that Russian state media loves him.
2017 for the archives
Hmm, this, on Democratic Party politics in the 1990s, sounds familiar…
Watch this huge RC plane meet an unfortunate end
Trump voter fraud commission member Ken Blackwell is sharing pieces from fake news websites
Instant chyron fact-check
Heres a rough FAANG indexs performance vs $SPX (Red) and Nasdaq 100 (Orange) for 2017 in honor of Google earnings
How do you know when a DNA test Is B.S.? @sarahzhang investigates
Should Americans take a more European attitude towards adultery? From the @1843mag archive
Dem lawmaker proposes stripping funding for Jared Kushners office
Trump envoy visits Israel as Temple Mount violence escalates
.@juliaioffe on what Jared Kushners statement reveals about Russian methods
Magic Spot: Waterpark Hostel in Cambodia
President Trump calls Obamacare a big, fat, ugly lie.
Tell me more about the Reptilian conspiracy theory?
Latest Westminster voting intention (18-19 Jul) CON 41% LAB 43% LD 6% OTH 9%
Chinese food delivery app that offers new ‘halal’ option, is attacked online
Why sparkling water sales could spike by 20% in 2017 @BrookeDiPalma1
Trump tells female reporter to be quiet, berates journalists during intern photo op
Sketch of NYC skyline drawn by President Trump up for auction with minimum bid of $9,000
Why Ukrainian forces gave up Crimea almost without a fight:
WATCH: Protester asks Kushner to sign a Russian flag
Why Roomba vacuums future may lie more in collecting data than dirt: via @JanNWolfe
Ok Diario: Yoko Ono broke the Beatles up and now she supports breaking up Spain with Puigdemont.
Paradise lost: Doñana wetlands going dry
BREAKING: Start Your Hedging: LedgerX to Begin Trading Cryptocurrency Derivatives
:taps mic: KRILLEX
These four scientific discoveries underpin our knowledge of absolutely everything:
Georgian Women March against Misogyny and Racism
Republican congressman shamelessly politicizes Steve Scalise shooting
Democrats should stop thinking of a jobs guarantee as a radical proposal.
This app connects veterans in crisis with other veterans who are willing to talk:
GOP House Science Committee chairman: The benefits of a changing climate are often ignored
Blue Apron shares surge on Wall Streets upbeat outlook: @SaqibReports @angelamoon00
BREAKING: Justin Bieber cancels remainder of his Purpose world tour due to unforeseen circumstances - publicist
PODCAST: Why U.S. tax reform is likely doomed, too: @breakingviews #Viewsroom
The White Houses hypocritical attack on Robert Muellers team
Brazil Petrol Price Index for July: 126, previous: 128.9 (change: -2.3%) #WPI
Could migration derail Merkel re-election express? #GermanyDecides
Whats the difference between burnout and exhaustion? From the @1843mag archive
China tells India to cease provocations in border dispute
10 architects you need to follow on Instagram:
The secret of this number sequence is hidden in plain sight
The great surge in CEO:worker inequality came in 1990s
Oil rises 1% after Saudi vows to cap crude exports next month via @Reuters
Paleontologists finally know what this ancient armored reptile looked like
EPA chief spent almost half of spring in home state of Oklahoma
Is Pope Francis a real reformer? via @AJUpFront
24 July 1704 - English Dutch troops occupy Gibraltar.
Saudi Arabia’s drive to reduce the economy’s reliance on oil has hit a snag
Obamacare is hurting these people—and Congress is doing nothing about it @rickjnewman
Organic ranchers eye #Amazon distribution ahead of Whole Foods deal: via @ReutersWinnipeg
Giuliani breaks with Trump: Sessions was right to recuse himself from Russia probe
Jason Karp – Tourbillion Capital Partners – long on SunOpta On Millenials
Didnt they just make this movie not that long ago? And already a remake?
Democrats unveil new economic platform
al-Aqsa crisis must be resolved by Friday, says @UNs Middle East envoy
#TeslaTaxIncentives: When Will The Federal Credit Start To Wind Down? $
Trumps toady at Breitbart attacks Jake Tapper, and that should worry everyone
#SouthAfrica Moves Ahead on Domestic Trade in #Rhino Horn #RhinoPoaching
#Golf: Season’s second #LPGA victory for South Korean Kim In-kyung
$DRYS today LOL
Mongolian Headline Sales Managers’ Index Reflects Solid Economic Growth. #SMI
Pardon My Ugliness, Murderer Begs Judge: #Zimbabwe
Boston city government has a racial pay disparity problem
Jimmy Carter: U.S. will eventually have single-payer healthcare
Brazil Food Price Index for July: 150.5, previous: 151.5 (change: -0.7%) #WPI
Just published: front page of the Financial Times international edition Tuesday July 25
.@CFPB #RipoffClause rule ensures consumers can challenge @WellsFargo fraud in court. #RulesAtRisk
Just published: front page of the Financial Times UK edition Tuesday July 25
Freedom Caucus chairman: Well fund border wall without needing a government shutdown
.@juliaioffe on what Jared Kushners statement reveals about Russian methods:
Economic reasons bring them to the shores of Europe
Palestinian protesters and Israeli security forces clash in West Bank
.@ProfEngelhardt using Runescape and Star Trek to teach economics at #MisesU.
Analysts cut Chipotle stock target, question menu price hikes
Heres what you need to know about the Tesla Model 3
Little comrade Jose. Right on! ✊
Al Jazeera explains why the holy site of al-Aqsa Mosque is a flashpoint
“U.S. college tuition is growing at the slowest pace in decades” - from @wsj
Students With Disabilities Are the Overlooked Victims of GOP Health Care Repeal
Trump considers replacing Sessions with Giuliani for attorney general: report
Here’s how rich Americans keep the good stuff for themselves:
This hack draws memes for you in Splatoon 2
Nice one, comrade Jose.
Another classic set of Belltown commercial buildings coming down. Tower or parking lot?
Top Judiciary Dem: Sessions must testify about what he discussed with Russian ambassador
Barclays oil sale triggers a huge number of trades in exotic options
Immigrants strive for US passports out of fear of future
Fed Model Shows Tightening Bias and Risks {Analysis on Terminal: }
Democrats take aim at big companies in economic blueprint
This $8 disposable grill Is made of cardboard
NASA sees Tropical Storm #Irwin shaping up in the Pacific.
In the 1970s, NASA envisioned life after Earth in these floating space colonies by 2060
Al-Aqsa crisis must be resolved by Friday, warns UNs Middle East envoy
310 groups agree: @CFPB #RipoffClause rule restores consumer rights! #RulesAtRisk
SoundCloud must think @Debtwire is a hot new rapper #muniland
Linkin Park posts tribute to Chester Bennington: Our hearts are broken
Those Stay back signs on trucks are legally meaningless
JUST IN: Giuliani: Not true that Trump considering me to replace Sessions
200+ posters from the Golden Age of graphic design are now free to download
Suddenly, big investors are betting this loonie rally has legs #business
City Resiliency in our Lifetime
Just my luck. Had my pelican cleaned yesterday, and today its pouring rain.
big day for WSJ stipples
Dr. Engelhart giving a delightful speech about Money (and his tomato plants) #MisesU
Scarborough: Trump sounds beleaguered and frightened because justice must be closing in
Is Someone Getting Crafty in Michaels (MIK) Options?
Two Chinese jets intercept a U.S. Navy surveillance plane: U.S. officials. More here:
PODCAST: Why renegotiating NAFTA will hurt the U.S.: #Viewsroom
The IMF just downgraded the Trump economy
As German spat deepens, Turkey draws tourists from elsewhere
#Earthquake magnitude 4,6 - 35,3 km from #Floridablanca - #Colombia
Alex J. Pollock: Insights From The Recent Congressional Hearing On The Fed
Uprising: The stories behind Venezuelas protests. via @ReutersGraphics
Group urges Vietnam’s foreign donors to pressure govt into releasing Tran Thi Nga
Malaysians are breaking world records in the international sporting arena
At this rate I should have all the newly-released JFK files downloaded by the year 2071.
Lessons in comparative advantage from #MisesU
Trump approval ratings are lower in GA/NC/TX than they are in OH/NH/IA:
One-in-four Americans have had false information about them posted online
Trump son-in-law Kushner denies Russia collusion
On anniversary of democracy, president stresses separation of powers
Call for public agencies to use state properties
Big business for Chipita in Indian market
Truck driver charged in Texas human trafficking case that left at least 10 dead
China Durable Goods Price Index for July: 75.3, previous: 75.6 (change: -0.4%) #WPI
The House Freedom Caucus response to bad CBO scores is to try to all but eliminate the CBO
What to know about the issue of metal detectors in Jerusalem: via @MiriamABerger
In April, Democrats led Republicans on several domestic issues, but not on the economy.
Greek University Students Develop Online Tool for Dyslexics #Greece
Pavlopoulos: Separation of Powers Not a Privilege for Judges But a Guarantee #Greece
$SPX, $STOXX companies arent talking about #MiFID so far in Q2. They should be.
Beautiful pics of our beautiful province part 3
.@ProfEngelhardt tackles the topic of money at #MisesU Watch from home:
My favourite classic typo in financial journalism. Cc @ozoran
Legal battle to send terminally ill UK baby Charlie Gard to US for treatment ends
Chinese police probe mixed martial arts fight club for poor children and orphans

Mike Shedlock

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. He operates the blog MISH'S Global Economic Trend Analysis and believes in the Austrian School of economics.

Toronto Home Prices Sink Most on Record: Did the Bubble Just Burst?

7 days ago

The three-month average home price in the Toronto area is down a record 14.2% following a flood of new listings and an interest rate hike by the Bank of Canada.

Sales fell most in eight years. Did Canada’s housing bubble just burst?

Bloomberg reports Chill Descends on Toronto Housing as Prices Drop Most Since 1988.

Total home sales in Greater Toronto dropped to 5,977 in June, the lowest level since 2010 and down 15.1 percent from the month prior, data from the Canadian Real Estate Association show. Average prices are down 14.2 percent since March — the fastest 3-month decline in the history of the data back to 1988 — while the ratio of sales to new listings sits at its lowest level since 2009.

The June data comes after a series of measures by policy makers to tighten access to the market — and before the Bank of Canada hiked its benchmark interest rate last week, the first increase since 2010 that will further pinch mortgage eligibility. Prices and sales also fell in nearby regions such as Hamilton-Burlington and Kitchener-Waterloo, CREA data show.

Lawmakers, concerned that escalating prices could lead to a disorderly correction, imposed measures including tightened mortgage eligibility rules and a tax on foreign buyers. Toronto’s market has lost momentum, while in Vancouver sales plummeted last year on similar measures but have since rebounded.

The economists expect Toronto to follow Vancouver’s path — price adjustment at the top of the market with less impact at lower prices. Meanwhile, cities like Montreal and Ottawa look strong.

Vancouver rebounded after the restrictions and economists expect Toronto will do the same.

But at some point sanity will return. The bottom in both markets is a long way down.

The same holds true in Australia. For discussion, please see “Bargain” $2 Million Homes in Australia: “Super Saturday” Auction Results Posted.

Mike “Mish” Shedlock