Canadians will defend the bubble.
They think it's a good thing. You will live to see the day that leafs defend having their pensions put up as collateral.
You will experience their delusion in all it's resplendent glory as they wax eloquently about how all the bad things happening to them are somehow good.
I hope it fucking pops, let this country die.
It all comes tumbling down tumbling down tumbling down
wait until the new carbon taxes kick in and you see how many businesses close.
>tfw 25, living in toronto, make 60k/year
>tfw I'm 8 years away from being able to get a house
I'll be 33 (maybe even older) before I can have a shitty starter house. jdimsa
tfw soon a 70sq foot shed within 2 hours drive of toronto will be 1200 per month to rent. or 500k to buy outright. and it's a steal
I work for a Canadian owned wood product manufacturer in America. How fucked am I?
Pretty much every G10 country is riding on a real estate bubble.
A house in Toronto is the same as a house in London.
>Canadians will defend the bubble.
>You will experience their delusion in all it's resplendent glory
Alot of businesses in canada will be closing soon, that means less competition for your boss. Maybe more work will come your way.
Not defending it, just saying it's the norm among a lot of Western countries.
When it does pop, which is an inevitability, it's not just going to be limited to Canada though Canada and Australia will be facing the worst of it.
why do you make these threads? the exact same format every time
The majority of Canadian mortgages are owned by the large banks...
You canadians always like to point at someone else whenever something goes wrong. It's like you think you get points or something.
"look australia is fucked too"
short the bankz
>why do you make these threads?
Canadians can't host an adult discussion about their country, it falls to the UK.
Who owns the banks? I'm betting dollars to loonies that it is heavily tied to the chinese and their shadow market.
so you don't have a reason? just some mentally ill """""brit"""" ?
There's more demand than the market can supply in the key areas.
If buyers would refuse to pay these huge prices, eventually value would diminish.
Currently, the market is dictating the price, but it's different than the American bubble of 08
that doesn't make any sense
Chinese millionaires have invested heavily in Canada's real-estate market, everyone knows that Vancouver is basically Hongcouver. They would have the most to lose. Some even own houses only as investments, they don't live in them or even rent them.
>so you don't have a reason?
I can't make venezuala and anti-rapefugee threads all the time, I gotta mix it up. Someone else is hosting the syria general so here i am.
Shareholders of the banks mainly....
Could a fellow leaf/someone who understands explain the implications of the bubble? I see that housing is way overvalued at the moment, and when the bubble pops a large part of people's assets will be wiped out. This will obviously have negative effects on our economy, but as a 23 yr old Toronto-fag won't this make it much easier to buy a house?
those houses ain't built to last.
PLEASE DEAR GOD LET THIS HAPPEN
The only people that will profit will be the rich 1%. If you/your family aren't wealthy, I doubt you'll see any benefits.
That's because you're making this thread like it's a uniquely Canadian problem when it isn't.
Inflated housing from foreign real estate investment as well as mass immigration targeted in major city centers is the normal for the west.
/pol can meme it into happenning.
Thanks dad
k
I don't believe you are from the uk and you are only here to shill for clicks on that website
really makes you think
Worry about your own economy m8. The pound is in a free fall.
People who locked themselves into those 40 year mortgages with low (or no) down payment are suddenly paying more on their mortgage than their homes are worth. Lots and lots of bankruptcies, lots and lots of foreclosures, huge spike in homeless people/people living in their cars. If you're currently renting, you're safe, though your landlord might become the bank.
...
TFW when from UK and Canada. Doubly fucked.
It's those fucking chinks, that's who to blame.
>COLUMN-HCG’s crisis may puncture Canada's housing bubble: James Saft
Day of the rake soon brotha!
check out this vid
Well, safe from your home bankrupting you, anyway. It could kill your job depending on what you do.
>the bubble is popping
Oh god please let it happen
ANTI AT FIELDO GROWING
>Crashing Canadian Mortgage Lender Bailed-Out By 321,000 Retired Ontario Healthcare Workers
Good. I hope it pops. All the leftists i know are worried about this because the shit job they have barely pays them any money. I want to watch them suffer for their stupidity of buying into a zero down, $700k shithole they call 'their house'.
>still shilling without answering
you have been found out
C'mon baby crash already. I rent, very little debt, and I can't wait for things to come crashing back to reality. $500,000 avg detached house price here that would have only been 200k 20 years ago. I hope everyone gets jewed big time.
make sure not to squander the civil unrest
There is no doubt that there is a large problem, mostly confined to 2 specific Canadian cities.. The thing that needs to be talked about is solutions, real solutions to try to give the bubble a soft landing. memes may not apply.
I own 4 properties, not in Vancouver or Toronto, and I am not concerned at all about over valued real estate
>And in case you are one of the 321,000 retirees who are nervous about your pension managers' actions, don't worry: The loan is secured by a pool of mortgages originated by Home Trust, and as everyone knows, in Canada home prices never go down.
What do you do?
Remember those are maple pesos. That's ~44k USD per annum. You can earn that much doing a trade.
Correct me if I'm wrong, but as long as people are not selling their house, why would they reach bankruptcy ?
Me too.... I'm waiting
The whole global real estate market needs a correction.
Housing affordability among Millennials has significantly decreased in almost every Western country
Shill thread
The problem isn't the willingness to sell your house, it's that the entire market becomes so skewed for buyers that property values plummet further and further.
Bankruptcy is the act of putting all your money in your pants and handing the bank your wallet. It destroys your credit score, but if you're paying more than the total worth of your home as mortgage payments, as happened in some cases when the 2007 housing bubble burst in the US, then the choice is pretty obvious.
Jr analyst for a bank. High rent/cost of living is killing my savings goals.
>Jr analyst for a bank
user... You're fucked.
I make around the same but live in Oakville on the lake. why live in Toronto at all?
What's it looking like for you? Live in a blue city myself and shit ain't cheap here either.
rent is dumb. My friend lives in a small one bedroom on front street and pays 1900 a month and thats an amazing deal.
People who make these replies need shooting. Every damn reply is you!
I need your help user. I have a bit of cash inheritance. What should I invest in so that my money doesn't devalue. Get into debt and buy more housing? Gold? USD? Plz help user
Gross. 1500 (incl. indoor parking) on Dundas for a 2 bedroom apt. It's a bit west of downtown, but it's convenient.
Also I live in Montreal. should i be worried about housing collapse? Plz send help user
even if there is a crash, the damage is done.
vancouver is a fucking chinese colony. it is LITERALLY china.
I'll save some for you if you bring guns and ammo.
I have some kinder surprise eggs to trade too
>What should I invest in so that my money doesn't devalue
I'm actually a Nigerian prince and can help you.
[email protected] my frend.
Yes.
You know those fancy condos they've been slapping together all over town? They're about to become fancy apartments.
>tfw I'm in a better position than most of my peers
It's where I found a job. Don't have much choice bruv.
Doesn't look good. Buying a house is way too expensive, but I don't want to relocate and leave my job in this brutal job market.
My parents live in Vancouver. I'd live at home if I could.
Put it on the kentucky derby
>What should I invest in so that my money doesn't devalue.
AMD shares
AMD is a Sup Forumsentooman company now, the poo in loo in charge of the GPU department and the Asian driver CEO guarantee sweet memetic returns
No. Housing bubble must pop for things to return to sanity. There is no other way.
people are paying like 3 mil for a toronto house that is absolute trash
a SEMI built in 1920 with nearly no space
3 million
fuck the city and everyone who enables this shit
I live in the poorest region. We don't have a bubble. I don't care.
>zero hedge
>predicting the end of the world since 2010
>wrong EVERY fucking time
the bubble is increasing your rent. You could have spent that money on you but the bubble got it.
>high cost of living
I had this problem. Try cutting back on the yay
>rent is dumb
Not when a house in toronto is $1,000,000 and you still have to scatter the fiends gathered on your front step every other hour.
Hongcouver is on the other side of the country. Fag Town, CA (GTA) is almost 2000km away. We have houses here posted for $10,000 in our goddamn monopoly money. No one buys them because the climate destroys everything and there is no work here to live off of.
Jesus. I pay $220/mo in mortgage for my 5 acre 3bed/2bath house in rural NS. I telecommute though so I don't need to live close to the city.
You guys should go seize some houses those Chinese fags don't even live in
100% guaranteed that Trudeau will bail them out. Odds are, we'll get both reduced services AND tax hikes at the same time.
But the Maritimes seem so comfy.
>reduced services AND tax hikes at the same time.
great for the environment.
Yeah, the piles of dead bodies in ER's will make great fertilizer.
Construction contractor here, there is no "overvalue" and there's no bubble to pop. Every condo we build sells out pre-built. Demand is insane and we can barely keep up. 300 000 new immigrants a year guarantees constant buyers. Even with the new foreign buyer tax, prices barely budged, I just sold a shitty 3 bedroom house in King City (40-50minutes outside of downtown) for 1.3mil to some doctor who was buying it as an investment.
Don't fall for the bullshit these "analysts" try to sell you, the more you wait on buying property in and around toronto, the more you'll fall behind .
Of course he will. Either party loves to spend money they don't have, just the libtards spend it on special interest groups instead of corporations.
They are if you were born here and have family here. Otherwise you likely do not have the connections which give you a chance at a decent jerb.
when the bubble pops (and it will), canada is F U C K E D.
the oil boom is over, alberta is done. nothing is left.
dead humans won't pollute and create carbon... canadians are leading the world don't you know.
That stock drop is real though. Bubble could go. Whole country's market has been on the brink for a while now. A light nudge will be enough.
>Turdo's face when
The Chinese real estate bubble is holding up the Canadian bubble. Where's a needle when you need one
You've never seen delusions until you've talked to a leaf
...
Bombardier isn't a corporation, now? :^)
Also, new stricter immigration reforms make it so that the new batch of immigrants that come in are much more rich and successful than the previous generations, further driving demand for real estate in major cities.
The rules aren't hard and fast, friend. There are no absolutes when it comes to sucking dicks behind closed doors for political favours.
China has it's own bubble in addition to Canada's