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Canadian home prices at 1988 levels … when measured in gold

While Canadian home prices have become less affordable in dollar terms, they have actually returned to 1988 levels when measured against gold, according to an analysis by Hanif Bayat, founder and CEO of personal finance company WOWA Leads Inc.

Bayat shared his findings on social media, saying: “Homes are becoming less affordable, but in terms of gold, Canadian home prices are at 1988 levels (7 kilos)!”

You can read more on the matter here.

What’s going on?

• Survey Reveals Trudeau’s Approval Ratings at All-Time Low (theDeepDive)

• US and Japan near deal to curb chip technology exports to China (FT)

• No Government Bailout for Northvolt, Says Swedish Prime Minister (theDeepDive)

• New apparent Trump assassination attempt highlights Secret Service strains (Reuters)

• How Market Speculators Are Disappearing Amid Vancouver’s Real Estate Collapse (theDeepDive)

• Facebook owner bans Russian state media networks (BBC)

• Amazon Shakes Up Leadership and Forces Employees Back to Office (theDeepDive)

• Fed to cut rates by a quarter point with a soft landing expected, according to CNBC Fed Survey (CNBC)

• 30-Year Mortgages For All: Canada Again Changes Mortgage Rules For First Time Homebuyers (theDeepDive)

• Inflation in Canada Hits 2% Target for First Time Since 2021 (BNN)

• Germany Begins Expanded Border Controls Amid Migration Concerns (theDeepDive)

What’s the latest?

• Inflation: Canada's inflation rate dropped to 2% in August, the slowest annual pace since February 2021, down from 2.5% in July, and below economists' expectations. The core inflation measures also eased, averaging 2.35%, reinforcing the possibility of larger interest rate cuts by the Bank of Canada. Economists now predict a potential 50-basis-point rate cut in October as the central bank aims to stimulate the economy, with inflation largely under control.

• Housing: Trudeau's government is introducing 30-year mortgages for all first-time buyers and newly built homes, along with raising the mortgage insurance cap to C$1.5 million, aimed at improving homeownership for younger Canadians. These measures, effective Dec. 15, will lower monthly payments and allow buyers with smaller down payments to bid on more expensive homes.

• Aluminum Rollup: Saudi Arabia is accelerating its metals and mining industry expansion with three major deals in as many days. Saudi Arabian Mining Co. (Maaden) announced a $1 billion acquisition of a 21% stake in Aluminium Bahrain B.S.C. from Saudi Basic Industries. This follows Maaden's $1.1 billion buyout of Alcoa Corp.'s stakes in two Saudi aluminum plants. Maaden also plans to merge its aluminum assets with Aluminium Bahrain and cross-list shares on the Saudi stock exchange.

• Microsoft Buybacks: Microsoft announced a 10% increase in its quarterly dividend to 83 cents per share and introduced a new $60 billion stock-buyback program, replacing a similar plan from 2021. The buyback represents less than 2% of the company's $3.2 trillion market value, with Microsoft spending about $17 billion on share repurchases in the last fiscal year.

• Geopolitics: More than 1,000 people, including Hezbollah fighters and medics, were injured across Lebanon when their communication pagers exploded on Tuesday. The blasts, described by a Hezbollah official as the "biggest security breach" in nearly a year of conflict with Israel, caused widespread panic, particularly in Hezbollah strongholds like Beirut’s southern suburbs. The explosions, which lasted about an hour, also affected southern Lebanon.

Fuerte Metals' recent developments

The stock market and stuff

• TD Enters E-commerce Arena, Aims to Compete with Shopify (theDeepDive)

• Judge rules for Patrick Orlando's ARC in dispute over Trump Media stake (Reuters)

• Tupperware’s Lid Is Closing, Shares Plummet Over 50% As Firm Heads For Bankruptcy (theDeepDive)

• US Bank Merger Deals Poised to Face Tougher Scrutiny by FDIC (BNN)

• Super Micro Misses 10-K Filing Amidst Scandal Allegations (theDeepDive)

In the juniors

• Magna Mining Updates Crean Hill PEA, Reports NPV(8%) Of $135 Million At Current Metal Prices (theDeepDive)

• Hertz Energy Acquires Antimony Project In New Brunswick Adjacent To Historic Mine (theDeepDive)

• CanAlaska Intersects 9.30% eU3O8 Over 16.2 Metres At West McArthur JV (theDeepDive)

FULL DISCLOSURE: Rua Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Rua Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.