Interesting economic proxy

One of the interesting indications of economic growth is housing costs. A hot housing market results from strong economic growth. Obviously this is not a direct correlation but it is pretty close. If you look at the Statistics Canada new housing price index, you will see this.

Don’t get me wrong, I like cheap housing. I think it’s an advantage. But I’m just saying…..

New Housing Price Indexes Sep-07
(1997=100)
Calgary -250.7
Edmonton – 248.4
Saskatoon – 212.5
Regina – 202.5
Winnipeg – 170.3
Ottawa–Gatineau – 162.3
Montréal – 155.7
Canada – 155.5
St. Catharines–Niagara – 151.7
Hamilton – 148.9
Québec – 148.0
Toronto and Oshawa – 142.1
Halifax – 140.2
Kitchener – 139.7
London -139.3
St. John’s – 138.9
Vancouver – 122.4
Victoria – 118.4
Charlottetown – 118.1
Saint John, Fredericton and Moncton – 114.5
Greater Sudbury and Thunder Bay – 107.3
Windsor -102.6

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