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calling U canucks-Canada's economic collapse begins Friday

 
Anonymous Coward
User ID: 22705997
Canada
10/02/2012 10:14 PM
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calling U canucks-Canada's economic collapse begins Friday
friday will most likely be the release of Toronto's september real estate data. ( downtown core condo and new housing will most probably be -unhappy and unwelcome news)

It will likely be bad news and the same as Vancouver's data and the downward spiral begins...why is this important???
Because a combined Vancouver and Toronto real estate market downturn will spell doom and possible bancruptcy for the Canadian government.

The majority of real estate value in Canada is present in these 2 markets and the federal government covers all mortgages for all of the loans to the banks with blanket insurance that is essentially derivative in nature and is not "real insurance"...default payments come straight out of federal taxes ( no real cash- just backed by the feds)


that's quite a sum for them to cover despite the gold and oil market ( the rest of our investor "value" )...it freaked me out to find out that we now we supply 30% of the oil to the US now but that won't save us...

[link to oilprice.com]

so guess what...we aren't any different than the rest of the world and are likely about to start our swirl down the toilet bowl...once the foreign investors find out we aren't a stable place to put their money..they'll go elsewhere because other countries are actually starting to recover or paying much higher interest on their sovereign debt bonds- that's when the SHTF and they'll ditch us like a plague
Anonymous Coward (OP)
User ID: 22705997
Canada
10/02/2012 10:29 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
classic canadian...I'll get bumped off the board cuz " god forbid" a canuck says something negative!!!
Anonymous Coward (OP)
User ID: 22705997
Canada
10/02/2012 10:29 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
you heard it here first dammit
Anonymous Coward
User ID: 24692617
United States
10/02/2012 10:34 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
you heard it here first dammit
 Quoting: Anonymous Coward 22705997


No need to swear.
stinky1

User ID: 1167868
Canada
10/02/2012 10:45 PM

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Re: calling U canucks-Canada's economic collapse begins Friday
friday will most likely be the release of Toronto's september real estate data. ( downtown core condo and new housing will most probably be -unhappy and unwelcome news)

It will likely be bad news and the same as Vancouver's data and the downward spiral begins...why is this important???
Because a combined Vancouver and Toronto real estate market downturn will spell doom and possible bancruptcy for the Canadian government.

The majority of real estate value in Canada is present in these 2 markets and the federal government covers all mortgages for all of the loans to the banks with blanket insurance that is essentially derivative in nature and is not "real insurance"...default payments come straight out of federal taxes ( no real cash- just backed by the feds)


that's quite a sum for them to cover despite the gold and oil market ( the rest of our investor "value" )...it freaked me out to find out that we now we supply 30% of the oil to the US now but that won't save us...

[link to oilprice.com]

so guess what...we aren't any different than the rest of the world and are likely about to start our swirl down the toilet bowl...once the foreign investors find out we aren't a stable place to put their money..they'll go elsewhere because other countries are actually starting to recover or paying much higher interest on their sovereign debt bonds- that's when the SHTF and they'll ditch us like a plague
 Quoting: Anonymous Coward 22705997


bump
Anonymous Coward
User ID: 12888639
United States
10/02/2012 10:49 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
What happens in the U.S. will eventually happen to it's little bitch (Canada). We may be a few years behind. But we will fall as hard as they did.
Anonymous Coward
User ID: 22717690
Canada
10/02/2012 10:52 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
While the sales are down significantly, the prices are not going down? I wonder if the same thing happened in the States prior to the crash. I don't get it. Sales are drastically down too. You'd think prices would come down. I mean, come on, who is crazy enough to pay almost a million dollars for a simple home in Toronto or Vancouver?
Anonymous Coward
User ID: 22717690
Canada
10/02/2012 10:58 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
What happens in the U.S. will eventually happen to it's little bitch (Canada). We may be a few years behind. But we will fall as hard as they did.
 Quoting: Anonymous Coward 12888639


I hope the market crashes. It won't though! Maybe a slight correction or decline in prices. Too many greedy people! I just want the prices to come down to a normal range. When a single detached home sells for almost a million dollars or a 800 square foot condo sells for $500K, something is NOT right.
TunafishSammiches

User ID: 24482144
Canada
10/02/2012 11:03 PM

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Re: calling U canucks-Canada's economic collapse begins Friday
We still have Canada's most lucrative export; my beaver.
Anonymous Coward
User ID: 22854527
Canada
10/02/2012 11:08 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
Anonymous Coward
User ID: 12888639
United States
10/02/2012 11:10 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
While the sales are down significantly, the prices are not going down? I wonder if the same thing happened in the States prior to the crash. I don't get it. Sales are drastically down too. You'd think prices would come down. I mean, come on, who is crazy enough to pay almost a million dollars for a simple home in Toronto or Vancouver?
 Quoting: Anonymous Coward 22717690


I don't think prices will go down till Asians stop buying. And the construction companies have to get rid of their stock of homes.
Anonymous Coward
User ID: 24853004
Canada
10/02/2012 11:10 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
"..are likely about to start our swirl down the toilet bowl...that's when the SHTF and they'll ditch us like a plague"


bubbles have a tendency to burst. Canadian real estate bubble will follow the same pattern. maybe Friday ..maybe later
Anonymous Coward
User ID: 12888639
United States
10/02/2012 11:12 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
We still have Canada's most lucrative export; my beaver.
 Quoting: TunafishSammiches


Beaver pelts have not been used in years. yours must be tough and leathery.
Anonymous Coward
User ID: 22717690
Canada
10/02/2012 11:13 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
While the sales are down significantly, the prices are not going down? I wonder if the same thing happened in the States prior to the crash. I don't get it. Sales are drastically down too. You'd think prices would come down. I mean, come on, who is crazy enough to pay almost a million dollars for a simple home in Toronto or Vancouver?
 Quoting: Anonymous Coward 22717690


I don't think prices will go down till Asians stop buying. And the construction companies have to get rid of their stock of homes.
 Quoting: Anonymous Coward 12888639


Can't you guys take some Asians? They are good people. They work hard and don't cause problems. They love to shop which will pump money in your economy. Please, encourage your government to give then green cards and attract them to the US. Also, you'd have lots of great chinese restaurants in your area?
Anonymous Coward
User ID: 15170057
10/02/2012 11:13 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Is it weird that I just don't really care any more? Sad.
Anonymous Coward
User ID: 4228507
Canada
10/02/2012 11:14 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
 Quoting: Anonymous Coward 22854527


I'll bet you bought a house in the past 3 years. You and millions of others are going to be slaughtered when Canada's house of cards collapses. Canadian banks are just as bad as the states. Our housing market is massively inflated. Interest rates have been essentially zero for years now. This collapse is a mathematical certainty.

Friday? Probably not. But it is coming and all those people who have 200k equity in their 5-900k house are going to get completely wiped out. Penniless is where they're heading.
Anonymous Coward
User ID: 7251284
Canada
10/02/2012 11:17 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Canada didn't allow 100 plus % financing like the states. That was a large part of their problem. Although on CTV tonight in Vancouver there was a special on how houses aren't selling at current prices, when recently they were selling above asking price, and yes in Vancouver and surrounding areas it is way over priced.
Anonymous Coward
User ID: 22717690
Canada
10/02/2012 11:20 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
"..are likely about to start our swirl down the toilet bowl...that's when the SHTF and they'll ditch us like a plague"


bubbles have a tendency to burst. Canadian real estate bubble will follow the same pattern. maybe Friday ..maybe later
 Quoting: Anonymous Coward 24853004


What happened in the States won't happen here. It's a rare thing happening now. Sellers are not desperate to sell so they just keep their homes listed without dropping the prices. Buyers are not desperate to buy because there is so much inventory and rates are low. So you have both sides that have time to sit and ponder. Did anything similar happen prior to the US crash? I read before bubbles burst, this situation may happen. But Canada is a different market for sure.
Anonymous Coward
User ID: 7251284
Canada
10/02/2012 11:22 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
 Quoting: Anonymous Coward 22854527


I'll bet you bought a house in the past 3 years. You and millions of others are going to be slaughtered when Canada's house of cards collapses. Canadian banks are just as bad as the states. Our housing market is massively inflated. Interest rates have been essentially zero for years now. This collapse is a mathematical certainty.

Friday? Probably not. But it is coming and all those people who have 200k equity in their 5-900k house are going to get completely wiped out. Penniless is where they're heading.
 Quoting: Anonymous Coward 4228507


I agree with you. People are maxing out with the low interest rates. As soon as rates rise lots of people will be screwed. That is the time to buy, just like the "dollar men" of the 80's.
Anonymous Coward
User ID: 22717690
Canada
10/02/2012 11:24 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Canada didn't allow 100 plus % financing like the states. That was a large part of their problem. Although on CTV tonight in Vancouver there was a special on how houses aren't selling at current prices, when recently they were selling above asking price, and yes in Vancouver and surrounding areas it is way over priced.
 Quoting: Anonymous Coward 7251284


People are really stupid to have paid such high prices and let it get to this point. When a 800 square foot condo has an asking price of $499K, something is wrong. People, don't buy! If everyone stops buying, prices will come down eventually.
Saratonin

User ID: 6418504
United States
10/02/2012 11:25 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Don't worry Canada we are collapsing here in the US also.

Planned world collapse to usher in the new world order.

- Sara
My Blog - [link to blog.emergencyoutdoors.com]
Online Survival Store - [link to www.emergencyoutdoors.com]
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Anonymous Coward
User ID: 22717690
Canada
10/02/2012 11:25 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
 Quoting: Anonymous Coward 22854527


I'll bet you bought a house in the past 3 years. You and millions of others are going to be slaughtered when Canada's house of cards collapses. Canadian banks are just as bad as the states. Our housing market is massively inflated. Interest rates have been essentially zero for years now. This collapse is a mathematical certainty.

Friday? Probably not. But it is coming and all those people who have 200k equity in their 5-900k house are going to get completely wiped out. Penniless is where they're heading.
 Quoting: Anonymous Coward 4228507


I agree with you. People are maxing out with the low interest rates. As soon as rates rise lots of people will be screwed. That is the time to buy, just like the "dollar men" of the 80's.
 Quoting: Anonymous Coward 7251284

But they think rates won't go up for years. Even news reports say that.
Anonymous Coward (OP)
User ID: 22705997
Canada
10/02/2012 11:26 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
 Quoting: Anonymous Coward 22854527


do the math...Van and To added up despite the volume for other markets ( depressed markets too) "ARE" the majority of value of all sales in our market...their condo markets alone probably make up 60% of all the total value ( and new construction) of the real estate activity in the Canadian real estate market my friend..do the math and do your homework

5 condo sales equal 20 house sales in smaller markets
Anonymous Coward
User ID: 12888639
United States
10/02/2012 11:26 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
How can you say what happens in the states does not happen here? In the 70's and 80's we were the ones taking americans jobs. Now the chineese have all our jobs. whatever happens in the states will trickle down to us. Always had, why stop now?
Anonymous Coward
User ID: 22775126
Canada
10/02/2012 11:50 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
What happens in the U.S. will eventually happen to it's little bitch (Canada). We may be a few years behind. But we will fall as hard as they did.
 Quoting: Anonymous Coward 12888639


You wont see that. Canadian Gov is/was smarter then your Gov. Some people will crash, but it will never be like you did (and still do !! )

Sry, but we will be above your heads when the SHTF.
Anonymous Coward
User ID: 24693760
United States
10/02/2012 11:51 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
They will just lie about the numbers. What makes the Canucks so special where they would tell the truth Hu ?

They arent special and will fudge the numbers like everyone else !

Eh !
my2centsworth

User ID: 5382682
Canada
10/02/2012 11:51 PM

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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
 Quoting: Anonymous Coward 22854527


I'll bet you bought a house in the past 3 years. You and millions of others are going to be slaughtered when Canada's house of cards collapses. Canadian banks are just as bad as the states. Our housing market is massively inflated. Interest rates have been essentially zero for years now. This collapse is a mathematical certainty.

Friday? Probably not. But it is coming and all those people who have 200k equity in their 5-900k house are going to get completely wiped out. Penniless is where they're heading.
 Quoting: Anonymous Coward 4228507


I agree with you. People are maxing out with the low interest rates. As soon as rates rise lots of people will be screwed. That is the time to buy, just like the "dollar men" of the 80's.
 Quoting: Anonymous Coward 7251284

But they think rates won't go up for years. Even news reports say that.
 Quoting: Anonymous Coward 22717690


On CBC the other night they questioned the logic of adding more condos in the Toronto market, when they reported on a major, three skyscraper project in the offing.

They did say at that time that there is no sign of interest rates rising any time soon. The financial gurus advised that those who have debt now, should work on paying the debt down over the next few years, while those interest rates remain low.

Time will tell how this all washes out.
Anonymous Coward
User ID: 12888639
United States
10/03/2012 12:01 AM
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Re: calling U canucks-Canada's economic collapse begins Friday
What happens in the U.S. will eventually happen to it's little bitch (Canada). We may be a few years behind. But we will fall as hard as they did.
 Quoting: Anonymous Coward 12888639


You wont see that. Canadian Gov is/was smarter then your Gov. Some people will crash, but it will never be like you did (and still do !! )

Sry, but we will be above your heads when the SHTF.
 Quoting: Anonymous Coward 22775126


First of all. I'm canadian. I'm visiting friends and family in the U.S. you know as well as I do, the fact is we have a realestate bubble that has to burst. it may not be because of loose lending practices, like in the U.S. but all bubbles burst. and us being tied to The U.S. Will mean we will fall. If not as hard, we will still fall.
Anonymous Coward
User ID: 23134798
Canada
10/03/2012 12:13 AM
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Re: calling U canucks-Canada's economic collapse begins Friday
this is so stupid. its just stupid to even say toronto and vancouver is a majority of real estate in Canada. what happens to america doesnt happen to canada. the real estate market/ subprime mortgage bubble was due to the unregulated markets in Murrrrrrica , that was really stupid on its own.

Canada isnt like that, there will be no collapse this friday for Canada.
 Quoting: Anonymous Coward 22854527


I agree with you. Toronto isn't the epicenter of all things for shit sake. Honestly, people need to stop glorifying Toronto and making it the city that Canada depends on...it isn't...no one cares...Toronto is a piece of shit honestly. Its the small towns, the industries, mines, and farmers that keep this nation a float, not some consumer slave-wage ridden concrete jungle that is full of people who don't produce anything of value. No carsh for you OP.
Anonymous Coward
User ID: 8829929
United States
10/03/2012 12:16 AM
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Re: calling U canucks-Canada's economic collapse begins Friday
Greed is ruining Toronto. Enormous numbers of condos are being built downtown, vastly increasing population and density, but without improving infrastructure... the existing hospitals, public transport, sewage, etc systems were already overstrained, and now they are becoming unworkable.
ExoPoliChick

User ID: 12909685
Canada
10/03/2012 12:18 AM

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Re: calling U canucks-Canada's economic collapse begins Friday
No collapse, just a well needed long overdue real estate correction.
Traveler of both time and space ~~~~


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