CANADA YES! Leaf Real Estate crashing, Day of Rake Soon

>Toronto housing chill extends into mid-July with sales sinking 39.3%

bnn.ca/toronto-housing-chill-extends-into-mid-july-with-sales-sinking-39-3-1.810388

Toronto average prices:
>March $916K
>April $920K
>May $863K (-6.2% m/m)
>June $794K (8% m/m),
>July 1-14 $760K (-4.3%, extrapolated ~9.7% m/m)
>July

Other urls found in this thread:

assets.kpmg.com/content/dam/kpmg/ca/pdf/tnf/2017/ca-Ontario-New-15-percent-Property-Tax-for-Foreign-Buyers.pdf
twitter.com/SFWRedditImages

Take off your nuflag, fag.

Annexation of the prairies when?

Back to bant

fuck you nigger

good

>go on /bant/
>it's an even more reddit infested Sup Forums
sweet jesus what the fuck

>there will soon be a Canada happening
>all the SJW cunts that wanted to lecture you about diversity are now waiting in breadlines

God I can't wait for them to get the leftism they begged for.

Certain people need flags, some people feel more comfortable with them, some people are scum that hate the first system that sort of works.

I'm hoping more splintered nations that then reunite the previous American and Canadian states with an EU style trade/migration/strategic tax zone.

It will solve the American migration networks, the NAFTA (sp?) thing and a whole bunch others, but it will mean a republican killed the United states (or the United states should completely invade Canada and then have a libertarian revolution?)

If the house prices collapse, it could set it off. Canadian capital flight and an almost non existent middle class population to pay for a bloated welfare state could mean an invasion is even asked for.

are you lost

the fucking chinks have raped our market in Vancouver but can't stop them because that would be racist

GO BACK TO TWITCH YOU KEK

Day of the rake? Nigga, I can finally look forward to buying a house at a reasonable price now that they arent just pieces of some sick chinese board game, how is this a bad thing?

>>March $916K
>>April $920K
>>May $863K (-6.2% m/m)
>>June $794K (8% m/m),
>>July 1-14 $760K (-4.3%, extrapolated ~9.7% m/m)
>>July

if I recall some sort of new tax in toronto

WHERE OUR MONEY LAOWAI DOG

around leaves don't be at ease

Damn it's in freefall. Seems like they fucked up pretty hard with their new tax.

What new tax did all of this?

this will sink justin

next leader will have strong ties with trump and a zero-fugee policy

cap this

I don't really understand how this is such a big deal... Isn't the obvious solution to not sell your house right now if the prices are so low?

Holy fuck the sky is literally falling on the canadian housing market. This is actually a serious thing for all the leafs. Hope the shit posting was worth it when you gotta room with Chang, Ling, Xing and Ting.

assets.kpmg.com/content/dam/kpmg/ca/pdf/tnf/2017/ca-Ontario-New-15-percent-Property-Tax-for-Foreign-Buyers.pdf

Yes obviously, but
>losing half the value of what you just bought
Honestly that could be suicide tier, especially if that thing was a million dollars...

Not enough Libertarians around for that. Too many Murican's just adore big government on both sides of the aisle.

It's just a bubble crashing

Toronto 2014: $526K
April 2017: $920K

It's still not enough.

If younger or lower income people are going to have any real shot at affording a house the market needs to completely crater way more.

Fucking this. The market needs to fucking nosedive and you leafs have to have housing reform and laws that don't let wild speculation be the absolute norm.

Good thing cucknadians sold all their pesky gold reserves

>south of the river
what don't you understand

it was so people stopped buying shit and have no one living in it to flip the place

samething happened in vancouver last year

Montreal is the second largest city in Canada and has none of this bullshit minus new ugly as fuck commieblock condos but only retards buy thos

Who the fuck buy a house for a million dollars?

Burger, the chong investors don't actually live in Canada. They just buy all the residences up and watch a ledger rise up.

who else is dumping their mutual funds which invest in foreign mortgages tomorrow?

Fort knox has been emptied for decades. You sold it too. We are all in the same boat friendo

If you're income is $150k some (yes some not very smart I know) people think they can do it. The bank says lol okay and bam you got a loan.

Neither the bank or the person buying asks, what if the market does what it always does after sustained 10% annual growth?

Anyone that bought this year is underwater.

For example
>152 Randolph
March, list $1.489M, sold $1.95M
$542/sq ft

A lot of the world's gold is kept underground at the NY Fed in Manhattan

t. Visited the vault, biggest cage that was unmarked but everyone knew it was Saudi Arabia

North and south side of the river. Not hard to figure out.

That's looks like a well kept crack house.

>18
>no gf
>no job (yet)
>No plans on moving until I have a steady and high paying job
>This happens
>I've lived in Toronto my whole life
>Know jack shit about housing and how to purchase it
Should I just move to a cabin in bumfuck nowhere, Saskatchewan until this is over, or learn to abuse the sink in prices that are about to happen?

>canada
>trudeau
>sells all the gold
>now have more worthless paper money
>gooks
>defeated spirits
>dude weed lmao
>rampant forest fires

2 weeks ago, July 4th
>75 Randolph, same street
List $1.499M
Sold $1.265
Lot 45x113, 5,085 sq ft
$249/sq ft
-54% in 100 days

152 Randolph would now be worth $896K, -$1,054,000 in 100 days

>As of 2015, the vault housed approximately 508,000 gold bars, with a combined weight of approximately 6,350 tons. The vault is able to support this weight because it rests on the bedrock of Manhattan Island, 80 feet below street level and 50 feet below sea level.

>-$10540 per day


absolutely incredible

random house in legit downtown montreal 750k-1.2 3-5 bdrm 2-3 floors

toronto&vans aint canada

Veloster a shit

I live in a completely ethnically pure area, you'd have to drive for three hours to nearest city to find a non white. Now you're telling me I've got cheap house prices incoming too so I can realistically buy my own place in a few years. :D. Oh fucking Canada. For all the shit leafs get on pol the fact is I probably have the most ideal life of anyone of this board, sans being not that wealthy.

yet another nice house in downtown
>built in 1880
counts as a heritage building

prices would hardly change in most places if shit crashed

That's A+ prime land in downtown Montreal, that's a good price actually.

The house is probably a huge fucking Victorian mansion built entirely out of brick with a deep basement.

Go look at Summit Circle atop Mont Royale for fun

>Who the fuck buy a house for a million dollars?

Fucktarded Genx'ers and Chinese money-launderers.

I'd take the GT86 over the Veloster any day to be honest. I do like like how the Veloster looks though.

>Go look at Summit Circle atop Mont Royale for fun
HA good fucking luck even buying one of those places even if you have 3m+ unless you are ultra elite

man those places are fucking nice I knew someone in high school who lived on the westmount part wtv its called that far up the hill

fucking kekd and kapped

Outremont? That place has some Monster mansions from the 1700/1800s. They were so big they had to divide them into 2 because they were just too fucking big

Summit Circle is 95% Jewish. I think the Tunisian dictator had some house around there too, and Gaddafi's son had a mansion there

>Outremont?
no like westmount proper you just keep walking north till the streets become steep as fuck like dr pentfield and shit

The houses aren't even priced outrageously considering the amount of land you get, the houses are huge 10-30K sq ft and built of solid stone. The interiours are also insane, all high-end luxury finishes

I fucked some Jewess once somewhere in one of those houses, it was insane, I was like how fucking big is your house wtf

Canada, LOL.

Yeah I know exactly what you're talking about, McGill Med's circular building is there right? And the roads are steep as fuck. I parked my car there and was paranoid the ebrake was going to give and my car would roll down and blow up

I had an 86 and drown it in a flash flood :( downgraded to used jag but always loved handling of the 86

Its the currency crash, the increase of minimal wage in Ontario, which is still going up to $15/h in 2018, and the high prices for garbage houses. It is a storm of shit decisions by shitty liberals. Canada is fucked.

Fucking where?

>Upper Canada was underneath Lower Canada

same ended up making a lot of friends that went to private school holy to many drugs and drinking the most surreal moment was meeting this chicks cousin who lived in fucking MONACO she flew to england daily for school her dad was a billionaire and here we are getting her drunk of 40's big black for shits and giggles
ya but like 15-20 streets west

This really doesn't surprise me considering the fucking retards they have running the province.
Its bad enough living on the east coast but these idiots take it to a whole new level.

I'm oddly okay with this.

How does this matter? The only people getting fucked are the speculators and people who actually own homes who intend to sell them. None of us own homes ourselves, let's admit, and for those of us/our families that do, most aren't looking to sell right now, so who cares?

The only people fucked in this situation are the idiots who bought a house within the last 2 years thinking that it would continue to go up. Why this affects anyone, I don't know. Unless it's tied in with some 2008-recession-CDO-mortgage-bond shit that I'm not aware of, I am totally okay with this. Especially because I hope to be moving to Toronto soon for law school.

Turns out (very fucking late) foreign ownership taxes have put a dent in the Chinese money laundering operations that have been bubbling up our housing markets. At the same time, a rise in the CAN prime rate with new tighter lending requirements have cut off about 20% of would-be homebuyers.

You take all of that, and the speculators get scared. It's a perfect storm for Canadian housing.

Thank fuck, because literal shacks have been selling in Vancouver for seven figures. Thanks Chang!

There could be potential good to come of this.
Canada is a country practically run on taxes which is a retarded way to do things.
Maybe once the economy collapses these assholes in government will realize that taxing their people into poverty doesn't work.

When the market crashes the highest priced houses drop first and drop the most, currently living in a 4 million dollar house and it has't dropped one bit. Also planning on selling my 3 bedroom condo for around 900.000 and the agents said I could easily get this. You are basing the crash on the retarded liberal media that is controlled by the government, they want the market to crash because they think the high prices are racist because immigrants cant afford them.

Saurus for the 1000% increase in foreclosure claim?

>The only people fucked in this situation are the idiots who bought a house within the last 2 years thinking that it would continue to go up.

Well, that's not entirely true. About 7% of the working population of Canada is employed in some form of the construction industry. When new home starts and renovations for sale collapse, there's going to be an employment disaster in those fields, with knock-on effects in retail, etc.

It's going to hurt.

We deserve it. God my country has gotten so fucking gay in the last couple years.

Thank fuck I work for an American company that is only affected by the American economy.
The company I work for is doing great, ever since Trump got elected we've been seeing a massive boost to business.
It will be nice watching everything burn around me while these liberal cock suckers start to wonder where they went wrong.

The funny thing is that the housing market is actually stable across most of the country, it's the big cities that are driving this bubble. The people that want to lecture us are already in breadlines. Leftism works fine for them because someone else always ends up having to foot the bill. The more things change, the more they stay the same.

>bubble crashing

Real Estate is $445B of Canada's $1.723T economy. 26%.

Home Renovations alone are 5%. $85B/year.

>employment disaster in those fields
so fuck em its their own fault for picking trades that has the most people in it

you want stable work become a milwright or work in logistics etc etc

Wasn't it Voltaire who dismissed Canada as "a couple of acres of snow?"

Wasn't it the rest of the civilized world that dismissed Sweden as a "couple of acres of snow filled with daily Muslim rapes and grenade attacks?"

>doesn't get how economics work

A housing crash is going to get ugly for everybody. How ugly it gets will depend on where you are and what you do for a living, but there'll still be effects.

>does get it

Our government allowed in wealthy foreigners who bought up all the prime property in major urban hubs. Now Canadians are unable to purchase property in their own cities, so local governments are enforcing steep taxes on foreign purchasers.

While the price is falling in major hubs, watch as smaller bubbles emerge in the less expensive markets. PEI in particular is welcoming the Chinese with a lucrative citizenship scam known as the Provincial Nomination Program- and they have the second least expensive housing market in Canada. The retarded provincial liberals are doubling down on the Chinese investment, trying to swoon tempt even more of them.

New tax on foreign investors. I'm guessing you own a house in Auckland if you think that's's a fuck up. I would call it an adjustment of prices.

Consumer Spending is $1.05T of Canada's economy, and almost all of it driven by debt, especially HELOCs.

When the crash starts to accelerate in the fall, and banks start foreclosing and yanking HELOC and LOCs and jacking interest rates as insurance, consumer spending will crash and it will take the entire economy with it. Without people using debt to buy useless shit they don't need, Canada's economy will cease to exist.

That was the French's butthurt attempt to save dignity after having their asses effortlessly kicked by the British and having to cede Quebec

>i-it's just a couple acres of snow
>w-who even cares
>;_;

The Quebecois are annoying because they actually fight to protect their culture, unlike a certain Scandinavian leftist utopia of rape, murder, and random machete attacks

Disregard the swoon, I went full retard for a second.

A housing crash is great for somebody like me. I work in an industry that is primarily affected by the American economy. I'm also only 23 and don't have a home yet so I think I'll hold off another year and wait to buy something dirt cheap from some faggot baby boomer.

I wish I owned property in Auckland but I don't. I'm happy for it to happen here too but isn't dropping like a stone bad for the country as a whole?

forex/trader I take it
bears and bulls dude nothing lasts forever if you don't plan for the future enjoy getting burned

you only make yourself look even more pathetic by getting buttblasted by sweden of all places.

>Our government allowed in wealthy foreigners who bought up all the prime property in major urban hubs.

That's where your wrong kiddo.
January 2014: Toronto Average, $526K
April 2017: $920K

>Investors
Terminated programs: Federal Immigrant Investor and Entrepreneurs
On June 19, 2014, applications still in the backlog of the federal Immigrant Investor Program and Entrepreneur Program were terminated.

>forex/trader I take it
No I work for an aggregate company. We ship out millions of tons of material a month down south. We occasionally sell locally but 95% of our profits come from the USA.

a fucking idiot who accepted that his whole life will consist of waking up in the morning to go to work to pay for the house his wife use to fuck the guy who mow the lawn everyweek.

It's on the southern bank of the river..... Just because of where the text is placed makes it look bad but if you look at the whole of the city, it makes sense. Stupid leaf can't even critcally think.

I wouldn't pay more than 40k for that and it would have to be in prime condition

CAN'T WAKE UP

The spirits of the mountain are angered, and soon the frog will eat the sun.

Can you please export your housing crisis to Australia.

No, only niggers and chinks for you

if diggitz the Ghost of Zyzz will bless Australia with a housing crisis