Paul Ferley Seems Quotations

Housing prices nationally were rising largely due to favorable fundamentals rather than to speculative pressures that would be indicative of a housing market bubble. However, the situation seems to have changed recently. Affordability has deteriorated significantly in the second and third quarters of 2005 as housing price increases have spiked higher. As a result, affordability is quickly closing the gap relative to this measure's long-run historical average.

Recent comments by Fed officials on indications that the U.S. economy had a fair bit of momentum going into the natural disaster seems to have resulted in the consensus of the Fed continuing to hike rates,

Canada seems to be getting support from strengthening commodity prices.

So at the moment, markets generally assume the Fed will continue to tighten. That expectation is generally resulting in the U.S. dollar strengthening, though the Canadian dollar seems to be holding its own.

It's suggesting this structural change playing out in the U.S. economy seems to still be continuing.