>Home Capital shares dropped by 61% in Toronto to the lowest since 2003, dragging down other home lenders. Equitable Group Inc. fell 17 percent, Street Capital Group Inc. fell 13 percent, while First National Financial Corp. declined 7.6 percent. In short, the Canadian mortgage bubble has finally burst.
>The loan has an effective - and very much distressed - interest rate of 22.5% on the first C$1 billion, declining to 15% if fully utilized, according to a note from Jaeme Gloyn, an analyst at National Bank of Canada.
>Home Capital said the credit line is intended to “mitigate” a sharp drop in Home Trust’s high-interest savings account balances, which sank by $591 million from March 28 to April 24, at which point the total balance was $1.4 billion. Home Capital warned on Wednesday that further outflows are anticipated.
THE RUN ON THE BANKS IS ON IN LEAFLAND! $300 MILLION A DAY FALLING OUT OF HOME CAPITAL GROUP! DAY OF THE RAKE NOW!!!!!
Don't look down on me, you bastard. Leaves may fall down and wither away in autumn, but do you know what happens in the spring? They regrow on the tree, just as beautiful as they were before. We're unkillable, we cannot die. We WILL not die. If you strike one of us down, we'll just grow back. So yes, I am a FUCKING LEAF!!!
Now go ahead. Kill me. If I'm killed, I win. That was one of those memes you guys love so much right? "If you kill your enemies, they win". Well guess what? That goes both ways.
Kill us all and we win. Our victory is as inevitable as winter.
>by the year 2050 Canada may be a Superpower > Second biggest country in the world, with more coastline than anyone else >Canada's population is set to increase by 30% by 2050, a growth rate rivalling India's. >Canadian immigration policy favours work skills and language above all else, even family reunification >In terms of natural resources, Canada is almost unmatched (oil, gas, diamonds, gold, fresh water, rare metals, lumber, arable land) >Arctic Ocean shipping lanes are opening up due to global warming > 90% of world trade is done by sea, and will triple by 2050 > Canada borders 3 of the worlds 7 oceans >Canada's stable government and financial markets make us attractive for business and investment, currently leading the G7 in growth >Low corporate tax rate of 15% (compared with the U.S.’s 35%, India's 34% and China's 25%).
who are you fucking kidding here?! THis is US MADE AGAIN.
Who do you think is in charge of all of this?! US Banks and their ties to canada.
In the end the US ruined us in 2008,2009 worldwide and now they are ruining Canda with their scheming and kikery.
It is not a surprise that the canadian housing market crashes cause jewish goys sell houses to chinks for ridiculous prices
Liam Lopez
wow I can finally afford a 3 bedroom and a family. Thanks trudeau.
Asher Reed
the bubble did not burst yet
Justin Adams
...
Samuel Cruz
Your argument is perfectly tenable right up until the point someone cuts down the fucking tree. Which is what this may be comparable to.
Colton Edwards
TIME TO INVADE CANADA
Nicholas Sanchez
I wouldn't mind living underneath Canadian occupation. You lads should beg for New England / New York in sacrifice for some extension to Canada, I want to get some fucking ripe maple syrup and shitpost like a madman
Brandon Price
...
Luis Walker
as a neet who doesn't own a home...
let it pop
Austin James
That's what happens when you put maple syrup on money.
Christian Campbell
>If you kill the economy >It wins
Anthony Sullivan
Woah something bad is happening when you elect a fucking yoga instructor to run your country? Who woulda thunk it.
Kayden Perez
If you own your house the bank wins.
Eli Bell
Canada just needs more migrants. Remember these facts.. >Migrants only do the jobs you dont want to do >Migrants are going to pay for your pention >Diveristy is strength >If you reject migrants then you are a racist >Migrants are going to help with the massive decline in population and stimulate the economy >Migrants are just as good as you >Race is just a social construct >Your children should not reproduce >It is your fault if a migrant gets angry and kills somebody >You should have sex with your dog >Canada, Yes!
Nicholas Jackson
Good anyone who bought a home in this shit hole deserves to have it foreclosed.
Juan Young
Is that why Trump is planning on taking in even more migrants than Obama?
Jeremiah Russell
Let it pop.
I came into the kind of job that people used to get back in the boomers time and were able to provide for their family on a single income. About 10 years ago I would've been able to mortage and pay off a small house in short order, but thanks to the jewery that is going on I can't even think about getting a condo without like a 30 year mortage while living on ramen.
Julian Russell
Is this new pasta? I like it.
Wyatt Evans
...
Jack Perry
What are you talking about, the Kaiser is responsible for all of this.
Brody Martin
you should come visit Quebec, we got the best maple syrup in all of Canada. you should come during late winter, like mid January, early february for light maple syrup. the darker it is, the richer it gets
Gabriel Rodriguez
Meanwhile, in America, we have a literal fucking retard that was memed in as president. You know he just proudly admitted to being a globalist today?
Henry Gomez
I heard that unless you speak French, it's virtually impossible to live / visit there but then again >murican education All aside, sounds comfy
Jordan Martin
...
Camden Powell
You don't have to wait for Americans for the rake, friend, Benier will be our revenge you fucking cuckold.
Lucas Howard
Bloody colonials. We should of left them all at Dieppe.
Eli Price
Do it, user. Make this a BCC thread. There hasn't been one in so long.
Cameron Martin
...
Liam Murphy
well, if you visit the larger cities ie: Montreal, Laval, Trois-Riviere, Quebec City, it should be fairly english.
most of the french people are in the regions
Dylan Jenkins
These things are so fucking hilarious that they don't even rustle me Post more, please. They're so corny it's wonderful.
Lucas Thomas
Will Latvia be okay?
Nolan Adams
Just for you guys
Brandon Myers
It's impossible to do a career worth while without speaking French. Especially for politics which is why we have a lot of incompetent people in our parliament. A lot of citizens that understand a high level of humanities are obstructed with their lack of speaking French. Bilingualism is what cause disparity in this country and many refuse to recognize this as impractical because it comes off as intolerant. Completely stupid imo.
Camden Johnson
>That fucking mountie My sides hurt, this gets me every time You will be spared on the day of the rake
Ayden James
LET IT BURN!!
Camden Flores
>Lisa Ann >Secretary for Trump
Luis Gray
About fucking time. When I keep seeing leaf shacks being posted here with 20 million shekel price tags it's obvious it's overdue for the crash.
Maybe now leafs will be able to afford more than just cucksheds and also will learn that socialism and socialist politicians always create bubble.
Isaiah Perez
Thank you leaf, you are my greatest ally.
Eli Cook
Hah. I have a canadian friend who's been saying "It's different here!' for years.
And NK just shot off a ballistic missile.
We're living in interesting times, fellas.
Josiah Nguyen
You are going to die in nuclear holocaust just saying
Logan Barnes
A
Lincoln Gray
>DAY OF THE RAKE
Heheheheheh
Asher Peterson
that fucking beaver
Juan Gomez
So what does this mean for non-foliage?
Ethan Perry
topkek you call that a catastrophy?
Evan Myers
'Member the last housing crisis?
Nolan Hughes
is it really happening?
Adrian King
Canadian dollar is going tk he more shit soon and our dollar can buy so much more.
Julian Wright
It'll make the markets bounce around as investors flee real estate in Canada, but it will settle down.
NK"s missile failed, too. It's not happening.
Guess it's a boring weekend.
Cameron Howard
>that fucking beaver
Says the burger who's economy crashed in 2008.
Christian Brooks
Just remember Trump is taking in more then Obama.
Blake Collins
b.bbut china is sending us money so it wont happen
Liam Thomas
Bring on a worldwide property crash
I don't own anything but have been saving for a while hoping it would drop
Michael Taylor
Think all the parasites plaguing their real estate industry will leave? Like the chinks or Murricans? Or will they just use this to their advantage. Way i see it rich chinks arent paying taking out loans like everyone else is
Leo Fisher
I've been waiting for another housing crash. Was thinking about getting a nice house by the beach.
Dominic Walker
oh please, a housing "crisis" you remember the gulags? remember fukushima? remember nagasaki? north korean gulags? slaughterhouses? people starving in the third world?
there is suffering all over the world, it's just having a ripple effect on the rest of the world. just because our mortal eyes can't see it doesn't mean our souls can't.
end all this suffering and bloodshed, then you can talk about the housing crisis.
Dominic Thomas
>$300 MILLION A DAY FALLING OUT OF HOME CAPITAL GROUP! DAY OF THE RAKE NOW!!!!! Seal the Northern border now!!
Chase Clark
>PULLED FROM HEALTHCARE WORKERS PENSION FUNDS Aahhaa retarded Ontarians. Just imagine all the cozy backroom deals that went into that giant dildo that is spreading your asscheeks right now.
Bentley Hernandez
...
Michael Mitchell
It was the Chinese who inflated the price of homes that caused this. that and anyone who took a uninsured mortgage kinda deserve it.
Christopher Jackson
I agree, I think Quebec should separate but maintain an economic union with Canada.
Carson Phillips
>there is suffering all over the world
Yes, and? Here in west, we're not shitskin retards that tolerate such shitty conditions so irrelevant.
Jack Rodriguez
WHAT IS THAT? WE FOUND WEAPONS OF MASS DESTRUCTION IN CANADA?
TIME TO FREEDOM!
Bentley Cook
>It was the Chinese
And the greedy whites who sold out to them.
Ryder Peterson
noice bait / 10
Asher Lopez
Told you leaf faggots your real estate bubble was coming
Isaac Morris
Ah yes zero hedge, they have correctly predicted the last 50 of the last 2 downturns.
Levi Robinson
It could legitimately be the beginning of a cascading failure of financial institutions worldwide. When so many investment banks have such high leverage, a significant loss in the Canadian housing market is worth watching. Leveraged positions based on fraudulent or excessive optimism can lead to defaults and bankruptcies even to those with small exposures. HBC could have a 0.00 price within a week or two.
It's not Lehman, but it's happening.
Isaac Sanders
but the thing is we're all connected and you won't be able to fix one without fixing the other. what happens over there affects us.
the fact that FGM is probably being performed right now on someone in the middle east will have a ripple effect on you in the west.
the whole planet is suffering and we aren't separate from it
Jaxson Phillips
Dear newfags,
Don't fall for happening threads.
Mason Gomez
Canada has a slightly bigger bubble than us and are slightly closer to bursting. I'll be watching this intently.
Eli Martin
THEY EXPECT ONE OF US IN THE WRECKAGE BROTHER
Liam Brown
Why was Canada not affected in the 2008 crash but they are now?
Jose White
Could you please refrain from using that pejorative for the Chinese people please. They are extremely intelligent, have a high IQ, and have one of the greatest civilizations on earth. It is their right to go to Canada: they will improve it and add intelligence and expertise to the economy. I please urge you to delete your comment or at the very least, delete the slur you used against the Chinese people. Failure to do so will result in consequences which I will not specify here. Thank you.
Brayden Hill
Would a Canadian crash with no survivors be good or bad for the USA?
Cameron Jackson
>be based anglo >send some bible bashers and convicts to the other side of the world >they accidently become the 1st, 6th, 10th, 13th richest countries on earth
#JustAngloThings
Jordan Bell
Has the bubble gon'n'popped?
Robert Morales
Not to bad, but not good a lot of Canadians are invested in American companies and vice versa it will be like the 2008 crash where America had the worst of it but reversed.
Asher Martinez
...
Jaxson Flores
...
James Turner
It's nice to seem someone step up and defend the Orientals.
Brody Peterson
Do Canadians rapists apologize as they do it?
Austin Fisher
Rothschild plot to upend world economy so it can be blamed on Trump and Brexit
Mason Cook
No where near as bad as the US crisis, although the root causes are identical. >Fanny May and Freddy Mac took a 187 Billion bailout from the government. >Home capital just took a high interest loan (10% + 100Mil in upfront fees on 2 Billion >Fanny May and Freddy mac got themselves into trouble by offering loans to high risk borrowers. >HCG is accused of falsifying documents to allow borrowers to be approved who would otherwise not qualify. > The company is under fire because of allegations that it didn't meet its disclosure obligations with regards to how it handled the dismissal of 45 brokers who had allegedly committed fraud, This seems to be the new trend with housing bubbles. Basically, the houses on the market become overvalued which should correct itself through supply and demand. Instead, to avoid devaluation of holdings, banks lower restrictions giving credit to those who don't qualify. This in turn devalues all of their holdings once they are found out. Investors get scared because of uncertainty and pull investments. Their holdings become worth less than they would have in they had let capitalism do its job. Instead, the they now will be calling in mortgages because the debt they hold will be greater than the value of equity held by the borrower. If borrowers cant afford the higher rates, they will have to sell crashing the bubble. This has some potential but the risky loans are a tiny fraction of what Fanny may and freddy mack held and sold worldwide so probably not a major happening yet.
Aaron Mitchell
...
Aaron Ward
Ever heard of a chainsaw and a tree chipper leaf?
William Mitchell
We were effected just not nearly as badly because it wasn't our real estate market that popped this time it will be us that suffer while America gets the little hick ups we got back in 2008, Canadian and American economies are closely tied together so its not a good thing for either country for our markets to fall.
Austin Diaz
Don't worry China will bail you out in exchange for everything you've got.
Aiden Evans
...
Aaron Peterson
You have pleased Kek. You have earned his favor.
Julian White
>US Banks Please.
Thomas Allen
I will always defend my people against the gweilo untermensch.
Wyatt Sanders
Agreed. Chinamen never hurt anyone. Stop insulting them.
Ayden Sanchez
And that's all I got
Adrian Ortiz
It didn't help that in BC we had brokers committing fraud and only getting small fines as a punishment they didn't even lose there jobs.
Jeremiah Ortiz
Thanks
Chase Ward
Posting that toy Stihl
Hudson Richardson
DAY OF THE RAKE NOW. JUDGEMENT FOR ALL THESE PEDOPHILLIC SHIT EATING RETARDED SHIT POSTING DICK SUCKING KEBAB COCK RECEIVING STRAP ON BUYING SHITTY FLAG BEARING KEKOLDS. FUCK CANADA.
