Canadian home prices are off the charts, and a lot of people say they are not sustainable. But what that means is vague. (Reuters) First of all, what is a real crash? Think Toronto in 1989 . Prices fell off a cliff. The average cost of a home in Toronto hit a whopping $273,698, a 30-year high. Then the bottom fell out. By 1996, that average had fallen to $198,150. (Yes, you read that right, you could buy a home in Toronto for a mere fraction of the $920,000 it costs today.) Like then, some owners would be largely unaffected by a crash today. Someone who isn't going to move and has a lot of equity in the house would be set back, but given the enormous increase in house prices (33 per cent in 2016), they would have something of a cushion. But housing isn't just about prices. And that's never more evident than during a downturn.
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• March 2013: Fonterra Australia manufactured product for Danone using a type of whey protein concentrate (WPC80) from the dairy co-op's Hautapu plant. Testing across the Tasman as part of this manufacturing process showed elevated levels of sulphite reducing clostridia (SRC) in the final product. • March/April 2013: This testing confirmed that the WPC80 was the likely cause of the elevated SRC levels and it was sent http://www.foodnavigator-usa.com/Manufacturers/Grass-fed-whey-whole-fruit-powders-Levels to Fonterra's research and development centre to establish whether or not clostridium perfringens was present. Clostridium perfringens is a common cause of food poisoning. The research centre confirmed that the whey protein concentrate contained clostridia sporogenes, a bacterium that poses no risk to human health. • April 22 and 23, 2013: Fonterra issued a report to Danone and held a conference call about issues raised by the elevated SRC levels. • July 19, 2013: AgResearch indicates the SRC levels were more comparable with clostridium botulinum - which can cause botulism. • July 26, 2013: Fonterra put the product with the affected whey protein concentrate on hold. • July 31, 2013: AgResearch testing showed a strongly positive result for toxin. • August 1, 2013: Fonterra contacted customers on the botulism scare. • January 9, 2014: Danone launches legal action in NZ High Court and arbitration proceedings in Singapore against Fonterra.
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