Housing speculation and borrowing is 20% of our economy now. Oil has made tiny gains this year but generally still is in the shitter.
Us leafs are so fucked once the housing bubble pops and there's nothing to make the impact softer. A foreign real estate investor tax should have been implemented in the GTA during 2012 after the shitshow everyone saw in Vancouver.
You're not fucked as long as you don't own property.
You actually can make a lot of money
Unless everyone is already betting on the bubble popping
Then you still can make lots provided you have tons
I feel like they are hiding the effects of inflation using the housing market. Only a speculation but it explains why housing prices have shot up so much.
I am part owner of my house together with other familymembers in Montreal, someone maplepill me on what it means concretely
If you don't own property in hot, speculative areas, you're not going to get the kind of brutal assraping you're afraid of.
Yes, the economy will contract.
Yes, people will lose a shitload of money. Conversely, some will make a shitload of money.
But Canada is still a mainly resource-dependent economy, and that shit ain't going anywhere. Maybe we'll take an economic hit in the short or medium term, but we're not going to end up like argentina or that fucking shithole France.
if i am going to buy home suburbs montreal should i wait ?
Housing prices always eventually go back to historical averages based on inflation. It is the worst time to invest in a house. We're do for a major correction, but whether or not it's a fast pop or a slow degeneration has yet to be seen.
It's always a gamble. A friend of mine decided in the late 90s she was tired of renting, and thought she could at least break even buying a house in Montreal. After all, real estate is a sure thing, right?
Turns out, when she had to move due to job loss, the market was absolutely abyssmal, and she lost more on the mortgage than she would have saved if she'd just stuck to paying rent.
Conversely, I live in an area where my neighbors paid $120k for their house in 1992, and it's worth about $500k now.
foreigners can get citizenship through quebec by lending provincial gov 800 000$ for 5 years 0% this gets lender and wife or husband citizenship .. canada is for sale
ya its coming to the point where if i calculate overpriced housing cost to my cheap rent i can save more by what i save on rent then buying home n selling 10 years later its fucked
Stop selling my home I can't just go fuck off to another country like the elites can.
We are in the same boat as you Canada. We have floated on an oil bubble for a while now. Thats coming to an end. Poverty awaits us as well. Inflation is rising. Many lose their jobs. We are fucked.
Buy bitcoin senpai. You're the next Venezuela.
I live in the suburbs, what place do you have in mind?
Living in the GTA sucks everything is expensive, terrible quality, far apart. Just acres of the same overpriced houses.
Bought a farm a while ago, and rent out the fields as crop shares. It's a lot of land but I don't think I'll be affected in any overtly bad way by anything that can happen. Currently the land has no buildings on it so the tax is very low, but I've started building a pretty hefty root cellar and learning how to can/jar food.
I figure, worst possible case is we get a catastrophic market crash resulting in Great Depression levels of suffering (no jobs, food shortages, enforced rationing), I'll just back out of my small property outside the city (worth around 200k, might be an almost complete write-off) and move to the farm and take care of myself. I hope there's some major warning signs before it happens though, so I have time to buy some chickens.
Hence all the rich Chink Chongs where I live. Guess where
Toronto?
>parents paid 200k in 1992
>now worth +1mill
Thanks China
You need to start exporting more weed and cannabis oil to the states. Flood their market with cheaper weed and oil and make that market your own.
>so I have time to buy some chickens
You'll always be able to get some chicks in the farm lands
Hell no, waaay more than there. And better weather, or at least not shite winters.
Also seen more muzzies this past 6 months than my whole life before that. Fug
>canada implements a full out weed based economy
dude
>try to explain to family how this housing bubble is going to be terrible for us
>how prices are making it impossible to buy for new families
>how it's also causing rent to jump so young people cant even afford to rent
>"but user, im going to sell my house soon and it's worth 2x what is was 1 year ago!"
I hope every single home owner gets burned hard. I know they're not all bad, but so many of them need to wake up and see that they've fucked all of us.
Canada is in a good position to become a major distributor of hemp. I know several people who already have investmenets in the hemp industry.
As for Cannibis, it's mostly hydroponic and our hydro rates are retarded so I doubt it'll take off until we can get cheaper energy
This isn't real is it?
I knew it was brilliant to save my $100 Canadian gold piece from the 76 Olympics! I will soon purchase land in Nova Scotia fellow leafs!