High Canadian dollar here to stay, economists say | |
Anonymous Coward User ID: 916751 Canada 03/17/2010 08:46 PM Report Abusive Post Report Copyright Violation | |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 08:48 PM Report Abusive Post Report Copyright Violation | "___________" here to stay, followed by "it's different this time" are always the famous last words before an epic crash. Quoting: Anonymous Coward 916751Don't you feel the difference this time? Don't you feel and see all the investors coming to Canada? Canada got like 100+ billion in foreign investments in the last year... MORE THAN ONE HUNDREED BEELLIONAIRE DOLLARS! Don't believe anything I say... I lie all the time. |
Anonymous Coward User ID: 918047 Canada 03/17/2010 08:54 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 916751 Canada 03/17/2010 08:55 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] |
Anonymous Coward User ID: 916751 Canada 03/17/2010 08:57 PM Report Abusive Post Report Copyright Violation | CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. Quoting: Anonymous Coward 916751If you are invested in ANY bond funds - be sure to check the prospectus or whatever VERY carefully. Make sure there are NO CMHC bonds. TD Bank has a couple that I know of, not sure about the others. |
Anonymous Coward User ID: 798927 Canada 03/17/2010 08:58 PM Report Abusive Post Report Copyright Violation | |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 08:58 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 916751CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] Interesting. Thank you! Don't believe anything I say... I lie all the time. |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 08:58 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 916751CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] When do you think the housing bubble will snap? Don't believe anything I say... I lie all the time. |
Anonymous Coward User ID: 918539 Canada 03/17/2010 08:58 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 918047 Canada 03/17/2010 09:00 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 916751CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] that's a 3000sq ft lot in central vancouver. try the same lot in manhattan.. maybe another 1.5million. |
Lily
User ID: 794926 Canada 03/17/2010 09:09 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 916751CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] That's why CMHC is nicknamed "Morey Haz" (i.e. Moral Hazard) |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 09:09 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 918047CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] that's a 3000sq ft lot in central vancouver. try the same lot in manhattan.. maybe another 1.5million. Yeah but man, I live here, and I would pay that much to live here. I don't think it'll explode... If anything, Surrey house prices are rising, not collapsing. Richmond prices skyrocketed also. They're not going down. Do you live here in Vancouver? Don't believe anything I say... I lie all the time. |
Anonymous Coward User ID: 918746 Canada 03/17/2010 09:10 PM Report Abusive Post Report Copyright Violation | |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 09:11 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 918047CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] that's a 3000sq ft lot in central vancouver. try the same lot in manhattan.. maybe another 1.5million. BTW, that property is a steal for a developer with cash, I don't see it as a bubble. I live here. I've seen the houses and quality of life here, I don't think you have though. Don't believe anything I say... I lie all the time. |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 09:12 PM Report Abusive Post Report Copyright Violation | |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 09:13 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 916751 Canada 03/17/2010 09:20 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 918047CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] that's a 3000sq ft lot in central vancouver. try the same lot in manhattan.. maybe another 1.5million. It's not that central, and it's a tear-down in a really shitty neighbourhood full of other crap shacks just like that one, along with meth labs and junkies for neighbors. It's more NJ than NY. The lot's not big enough to build anything much bigger on it - certainly not a multi-family unit - the lot's only 30ft wide! And there's not the number of rich people or lucrative jobs that there is in Manhattan - there's no Wall St., just a bunch of shitty penny stock companies headquartered there (hundreds of which are run out of one lawyer's office), drugs and delusion. There's also not the number of people period - just in the borough of Manhattan alone there are 1.6 million people vs. roughly 600 thousand for the city of Vancouver proper. Many economists are predicting China's in a huge bubble and when that blows Vancouver will definitely go down if nothing else takes it down. Canada's most likely going to raise rates by June and who knows what the bond market will do in the meantime as well. The Olympics are over so everyone who was hanging on to sell until after wards is going to list their spec property only to find there aren't millions of people interested in moving there who arent' there already. In the early 80s BC real estate crashed 50%. It'll happen again. |
Anonymous Coward User ID: 918746 Canada 03/17/2010 09:22 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 918746 Canada 03/17/2010 09:23 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 918047 Canada 03/17/2010 09:26 PM Report Abusive Post Report Copyright Violation | If it's foreign money it can leave as quick as it came. Quoting: Anonymous Coward 916751CMHC is a half-trillion dollar timebomb ready to explode nearly every Canadian bond fund. The banks are lending to anybody right now. It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. And to any doubters that there's a severe property bubble: [link to www.realtor.ca] that's a 3000sq ft lot in central vancouver. try the same lot in manhattan.. maybe another 1.5million. It's not that central, and it's a tear-down in a really shitty neighbourhood full of other crap shacks just like that one, along with meth labs and junkies for neighbors. It's more NJ than NY. The lot's not big enough to build anything much bigger on it - certainly not a multi-family unit - the lot's only 30ft wide! And there's not the number of rich people or lucrative jobs that there is in Manhattan - there's no Wall St., just a bunch of shitty penny stock companies headquartered there (hundreds of which are run out of one lawyer's office), drugs and delusion. There's also not the number of people period - just in the borough of Manhattan alone there are 1.6 million people vs. roughly 600 thousand for the city of Vancouver proper. Many economists are predicting China's in a huge bubble and when that blows Vancouver will definitely go down if nothing else takes it down. Canada's most likely going to raise rates by June and who knows what the bond market will do in the meantime as well. The Olympics are over so everyone who was hanging on to sell until after wards is going to list their spec property only to find there aren't millions of people interested in moving there who arent' there already. In the early 80s BC real estate crashed 50%. It'll happen again. speculators fine. if you are buying to live there - at 4% you figure $2000/month to start. how much is it to rent a similar house downtown vancouver? |
Anonymous Coward User ID: 916751 Canada 03/17/2010 09:27 PM Report Abusive Post Report Copyright Violation | BTW, that property is a steal for a developer with cash, I don't see it as a bubble. I live here. I've seen the houses and quality of life here, I don't think you have though. Quoting: RazriN v10.0I lived in Vancouver for three years - until just after 9/11. Went to Toronto which is a waaay better city and even though it's in a bubble too, houses go for half what they do in Van. Lived around Main St. and had a lot of friends around there and further east, so I do know the neighbourhoods. Only in Vancouver do people not think the prices of houses are INSANE. Yeah, I know the last couple of years the weather's been fairly decent but the amount of rain is just crazy, there's way too many people into every kind of drug going - the drug scene is way too open and it seems people will pop ANYTHING offered to them. Got broken into three times in different places and eventually had enough. Just look at house/condo prices in Florida - an infinitely more beautiful, desirable place to live than Vancouver. Or Vegas, which is infinitely more fun than Vancouver. Only Vancouverites are so deluded as to think they live in the best spot on the planet, and well, they already live there! Just watch, as soon as all this cheap credit dries up there's going to be a blowup of epic proportions. Predicting WHEN is a fool's game and to be honest I underestimated the lengths the Tories would go to to keep housing propped up (via CMHC, MBS purchases, ordering the banks to lend, etc.). But it WILL happen. |
Anonymous Coward User ID: 912842 Canada 03/17/2010 09:32 PM Report Abusive Post Report Copyright Violation | |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 09:35 PM Report Abusive Post Report Copyright Violation | |
RazriN v10.0
(OP) User ID: 838183 Canada 03/17/2010 09:36 PM Report Abusive Post Report Copyright Violation | Where in Canada do you live? Obviously not GVRD/Vancouver or Suburbs? I live in the Suburbs man. My condo went from 150k to 190k in a few months. i don't live in hongcouver....are you chinese ? Yes. Don't believe anything I say... I lie all the time. |
Anonymous Coward User ID: 859716 Canada 03/17/2010 09:45 PM Report Abusive Post Report Copyright Violation | It's only a matter of time before the housing market tanks. I'm guessing by mid-summer. Quoting: Anonymous Coward 916751And to any doubters that there's a severe property bubble: [link to www.realtor.ca] That link is hilarious. People on housing blogs are saying things like ... hey, that house was on the last episode of "Hoarders". Or, hey, wasn't that house featured in "Deliverance"? And asking price is like 580K. |
Anonymous Coward User ID: 895775 Canada 03/17/2010 09:49 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 918047 Canada 03/17/2010 09:50 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 912842 Canada 03/17/2010 09:54 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 526155 Canada 03/17/2010 09:54 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 916751 Canada 03/17/2010 09:55 PM Report Abusive Post Report Copyright Violation | I'll digest all this in a bit, don't ditch this thread 916751, I want to continue this discussion for sure. Gotta hear more about Toronto's bubble and market. Quoting: RazriN v10.0www.greaterfool.ca is a good place to start or [link to whispersfromtheedgeoftherainforest.blogspot.com] Toronto's suburbs are pretty stupid - townhouses in Markham going for 800K that people tell me about but you can still buy so-so houses in Toronto in so-so but not that accessible via public transit for 300-350K. In Queen West/Parkdale, which is the equivalent to the West side of Main St the houses are still in the 4-600K range, but are much bigger and more solidly built. [link to www.realtor.ca] They're still subject to stupid bidding wars though and a lot of the houses are over-priced. There's also way too many condos being built (that's where Toronto RE gets seriously idiotic). I know several people who fancy themselves as 'investors' who bought to condos a few years back that are only now being completed and are still sitting on them waiting for them to 'appreciate' even more. One guy I met owns three that he rents out - each for less than it costs him in mortgage and maintenance fees - but is counting on the price going up by even more than what he's losing every month. |