Bloomberg Canada is in the midst of one of its weakest expansions ever, and only the housing boom keeps it from getting worse. That’s one of the key takeaways from Friday’s GDP report. Two years since oil prices started plunging, Canada’s economy is almost completely reliant for growth on bank lending and the hot Vancouver and Toronto housing markets. …

  Bloomberg When talking about housing, “underwater” usually means you owe more on a mortgage than the home is actually worth. If climate change continues apace, that term could take on a much more literal meaning. Rising sea levels could soak homeowners for $882 billion, according to a new report from real estate website Zillow. The research takes its initial …

  Bloomberg Robust demand for mortgages. Real estate values rising at a solid clip. Construction employment in decent shape. A fresh cycle high for single-family home sales. With all this working in the housing market’s favor, it’s hard to envision why residential outlays took a step back in the June construction spending report, notes Bespoke Investment Group. Private residential spending …