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Message Subject THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Poster Handle .9999 Silver
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Hey guy's are you watching the Canadian housing crash...

its gonna be spectacular here... never mind toronto
check out the mess in vancouver...

canadians have all their wealth(80-90%) tied up in their properties. That they have leveraged to the max 167+% of GDP

2 years of product in the market here to choose from, stuff selling below the assessed value, condo's in the dump...

and we said it could not happen here...

smug little canadians...

the banks here have a $trillion dollars of government/taxpayer backed mortgage guarantees...

watch the detonation of municiple budgets that were built on escalating faked property values... we had 18 months of zero down 40 year mortgages on million dollar properties. we have 5 year renewals here... sub-primed to the wall... purchase costs 11-14 times yearly wages.... $10.00hr wage jobs everywhere, nothing that isn't taxpayer subsidized going on... that will buy a taxpayer guaranteed million dollar home, and pay for it
... Yah right

You should smell the fear here...

... it really is different here now...

... stupid smug entitled little yuppies about to get their face wiped with shit... as they realize their not richer than you think...
We are all Greeks now, just most are to stupid to realize it.
I'llprobably get shot by a bunch of angry entitled property owners for saying this.
They believe themselves immune, after all we bought wisely, they are smart they tell me. They have all borrowed money against their homes claimed value...
I spent 2 1/2 year's figuring out how they evaluate property tax assessments here... YIKES what a ponzi the real estate government here has created with their fake( outright counterfeit) ASSessment docs.
People here take that value as Absolute... after all they paid taxes on it didn't they...
I like your thread...

And finally, last month canada lost some 11,000 jobs in the private market but added some 88,000 in the public sector.. employment is as a result up... not!

Silver

position...
...self supporting Commie business man. no tax subsidies. only bums take those...
...bought at 300,000, and seems I am going to sell for a cool mill+ today. and will re-buy for 300 or less. I have a property in mind. Time to take profit and run.
 
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