Canada's housing bubble bigger than when John Crow was dealing with it in the late 1980s, says David Rosenberg
“I see inflation falling like a stone,” he said.
Rents make up 30 per cent of the consumer price index, and 40 per cent of the core reading. And right now, it’s the second biggest factor pushing inflation higher, behind food. But rents are a lagging indicator, and that’s about to show up in inflation readings after the first quarter. As a result, rents will come down “significantly, especially in the second half of the year,” he says.Rosenberg says sometime in the near future, either the fourth quarter of this year or early next, the so-called “perma bear” is going to surprise everyone by turning into a perma-bull on stocks.
Could be the fourth quarter, but probably will be next year, but “I’ll start to anticipate that ahead of time because my nature is that I’m early and sometimes crazy early.”Article content
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