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calling U canucks-Canada's economic collapse begins Friday

 
Anonymous Coward
User ID: 5127800
Canada
10/03/2012 09:19 AM
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Re: calling U canucks-Canada's economic collapse begins Friday
Increasing govt expenditures and a decreasing tax base puts pressure on the bank of Canada to raise interest rates....fact.

A 1% rise in mortgage rates will put 10% of mortgages in Canada under water....fact.

The govt has painted itself into a corner.....its only a matter of time!
Anonymous Coward
User ID: 22717690
Canada
10/03/2012 01:08 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



foreign investors as usual.

bc hydro has a list of ghost properties that never spin a smart meter and just sit there empty all year and collect dust. This included condos, residential and commercial locations. The chinese buy them up like hotcakes before they are even built and sell them to even dumber chinese at a ridonkulous price. There are TONS of these types of properties in Vancouver. Many of their owners are in HK and never even step foot into them.
 Quoting: Anonymous Coward 15002367


I know! We all know about them. Nothing against them at all. It's crazy to think if I'm born in Vancouver or Toronto, I have to move out and away from the area because I can't afford the prices. Seriously, to buy a starter home, I'd need $850K. You can't even get into the market. Meanwhiile you have Asians, who were not born here, buying up property like hotcakes. And the killer is they don't even live in the properties!

When you are forced to move out of the area where you were born (were all your family is) due to prices being so freaking high, while foreigners buy up properties for greed purposes, something is wrong!

They'd probably solve the problem if they restriced the number of foreign investor sales per area in Canada. Then people who were actually born here could actually buy.
Anonymous Coward
User ID: 10123935
Canada
10/03/2012 01:19 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.
 Quoting: Anonymous Coward 24692617



Don't worry, he's a canadian. That's about as nasty as his swear words get.
Anonymous Coward (OP)
User ID: 22705997
Canada
10/03/2012 07:03 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


You don't understand how it works here. There is a real estate bubble. The Feds raised down payment requirements and made it harder to insure mortgages over $1 million.

When the bubble bursts here, and it will burst, Holders of Canadian mortgages will get their money automatically, because unlike the USA, all insured mortgages in Canada are guaranteed government bailouts in advance.

Banks and mortgage providers in Canada have been incentivized to provide mortgage loans to anyone because they are guaranteed payment on default.

Too many Canadians think that our banks did not receive bailout money back in 2008-2009. They did and received billions. Our banking system is not as good as the banks and governments tell you.
 Quoting: Anonymous Coward 24278562


you are totally correct...our hidden CMHC insurance bank bailouts have actually been more per capita than the US bank bailouts
Anonymous Coward (OP)
User ID: 22705997
Canada
10/03/2012 07:07 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


TROLOL! You honestly believe that when the real estate market is so outrageous, to the point where a 1,000 sq ft town house is worth near a million dollars, and there is NO BUBBLE? Hah! Good luck with that one my friend.
 Quoting: Anonymous Coward 24828616


Well, take this test and see for yourself!
[link to www.crackshackormansion.com]
 Quoting: Anonymous Coward 22717690


I thought the toronto market was stupid...those crappy bungalows on a 25' lot suck-I don't care where or in what neighbourhood they are located...they only time those prices might make sense is if there are no gross squarefootage limits and they are in a condo redevelopment area or something like that
ExoPoliChick

User ID: 12909685
Canada
10/03/2012 07:14 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


You don't understand how it works here. There is a real estate bubble. The Feds raised down payment requirements and made it harder to insure mortgages over $1 million.

When the bubble bursts here, and it will burst, Holders of Canadian mortgages will get their money automatically, because unlike the USA, all insured mortgages in Canada are guaranteed government bailouts in advance.

Banks and mortgage providers in Canada have been incentivized to provide mortgage loans to anyone because they are guaranteed payment on default.

Too many Canadians think that our banks did not receive bailout money back in 2008-2009. They did and received billions. Our banking system is not as good as the banks and governments tell you.
 Quoting: Anonymous Coward 24278562


you are totally correct...our hidden CMHC insurance bank bailouts have actually been more per capita than the US bank bailouts
 Quoting: Anonymous Coward 22705997


Meanwhile Canadian banks continue to report record profits?
Traveler of both time and space ~~~~


Nobody told me there'd be days like these....Strange days indeed!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

"It is our innate solidarity - not some despotism of the sky - that is our source of morality and sense of decency."
~ Hitchens

"The essence of the independent mind is not in what it thinks, but how it thinks."
~ Hitchens

"A mote of dust suspended in a sunbeam."
~ Sagan

I LOVE science and I LOVE space but I am hugely skeptical and don't trust a word NASA says.
Anonymous Coward (OP)
User ID: 22705997
Canada
10/03/2012 09:58 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
my buddy told me a good one...when you buy a new place- you need bath mats, curtains, paint, new furniture, appliances, extension cords, wall plugs, movers, pizza! cuz you are painting...causing a massive shopping spree

I hope our US friends will chime in about how the rest of the economy tanked- 1 construction job probably means 3-4 other support jobs

with every loan of new credit created there is at least 10X the ancilliary cash flow that comes from it and that is simply banking math

I keep adding and bumping my thread cuz friday's coming and the hard numbers will come out from the Toronto Real estate Board...they already leaked that they are down 30% by volume again over last sept but I am waiting for the official numbers that they break down by neighbourhood and property type..TO already has more condo units under construction right now than they sold last year and they are 30% in the hole for resolds

a simple market pause-no yearly increase or small decrease in property value ( never mind interest rate increase ) will put you in the hole for 4-5 years with no equity built up from payments
Anonymous Coward (OP)
User ID: 22705997
Canada
10/03/2012 10:02 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
and consider this....
you can make money speculating or renovating but if there really and truly was any real money to be made by simply buying a house- I can guarantee you that the PTB would own all the houses already and not just be convincing people to buy and loan and sign for 30 years of economic slavery
Anonymous Coward
User ID: 23200727
Canada
10/03/2012 10:13 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Seems to me the Seattle/Washington housing market hasn't taken the dump it deserves yet, either, and I wonder if somehow the Canadian mkt hasn't been propping it up (?)
ExoPoliChick

User ID: 12909685
Canada
10/03/2012 10:18 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Seems to me the Seattle/Washington housing market hasn't taken the dump it deserves yet, either, and I wonder if somehow the Canadian mkt hasn't been propping it up (?)
 Quoting: Anonymous Coward 23200727


Yep, I would say so. The fact that those particular cities are also considered the world's best cities to live in probably has an impact. Very desirable real estate in that entire area. Demand to live there is high, so prices stay high.

Last Edited by *Ozone Baby* on 10/03/2012 10:18 PM
Traveler of both time and space ~~~~


Nobody told me there'd be days like these....Strange days indeed!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

"It is our innate solidarity - not some despotism of the sky - that is our source of morality and sense of decency."
~ Hitchens

"The essence of the independent mind is not in what it thinks, but how it thinks."
~ Hitchens

"A mote of dust suspended in a sunbeam."
~ Sagan

I LOVE science and I LOVE space but I am hugely skeptical and don't trust a word NASA says.
Anonymous Coward (OP)
User ID: 22705997
Canada
10/03/2012 10:37 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
foreign investment is the prop up..once there is a better return somewhere else- there might be blood

there is only hard assets left before the huge global crash..dig it or grow it..there is very little "new hot growth market" left
Anonymous Coward
User ID: 22717690
Canada
10/06/2012 05:43 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
Op, you are wrong! Friday came and went and all is well.
Anonymous Coward
User ID: 24707664
Canada
10/06/2012 05:55 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
bsflagAwesome day fear free. Sick of Fear.
Anonymous Coward (OP)
User ID: 22705997
Canada
10/10/2012 10:04 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
the numbers are there...they waited until late in the day I guess because they needed to "spin" the wording to make it upbeat.
Remember..these people sell houses..they ain't coming out with bad news and will spin as best they can..."buy, buy. buy!!"
the info is there..compare the year over year and the year to date for all c1,c8...all core downtown

1,000 less sales is 1,000 times $500,000

it's a turning point..not a day the market drops 25% you turds..the US market didn't just stop and crash in a day or two..OMG-even the canucks are starting to sound stunned

[link to www.torontorealestateboard.com]

Yah...the day came and went..nobody noticed
Anonymous Coward
User ID: 22717690
Canada
10/19/2012 10:14 PM
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Re: calling U canucks-Canada's economic collapse begins Friday
the numbers are there...they waited until late in the day I guess because they needed to "spin" the wording to make it upbeat.
Remember..these people sell houses..they ain't coming out with bad news and will spin as best they can..."buy, buy. buy!!"
the info is there..compare the year over year and the year to date for all c1,c8...all core downtown

1,000 less sales is 1,000 times $500,000

it's a turning point..not a day the market drops 25% you turds..the US market didn't just stop and crash in a day or two..OMG-even the canucks are starting to sound stunned

[link to www.torontorealestateboard.com]

Yah...the day came and went..nobody noticed
 Quoting: Anonymous Coward 22705997


no collapse - just slow down.

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