BTFO

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Other urls found in this thread:

crackshackormansion.com/
trebhome.com/market_news/release_market_updates/news2017/nr_market_watch_0717.htm
bloomberg.com/news/articles/2017-08-03/toronto-home-prices-in-record-monthly-drop-as-sales-plunge
globalnews.ca/news/1802235/toronto-ranked-as-best-place-to-live-in-the-world-by-the-economist/
twitter.com/AnonBabble

>by Tyler Durden

Prices have dropped from $920K in April to $746,218 in July, down 19% in 4 months

>by Tyler Durden

>implying Zerohedge isn't infinitely superior to all legacy media

They didn't "implode" this was the result of a law being put in to stop external countries from engaging in reckless speculating on real estate in Toronto.
There is a game webpage called Crack Shack or Mansion to illustrate the point. crackshackormansion.com/ Stop fucking reading Zerohedge. It's fucking terrible.

Oh and by the way, Zerohedge uses anonymity for the same reason we do.

And has been extremely effective, like we have.

And by we, I mean Sup Forums, not cucks who lurk on Sup Forums.

wtf I like chinese home buyers raising prices now

>20% drop in house prices in 4 months
>totally normal situation
>Zerohedge are conspiratards for even remarking on it

Nah, I still hate them.

And they're taking a bath right now. And this is only the beginning.

Sorry chinks, no refunds.

Tippity top lel

Nobody cares about leafs

Propped up with Chinese money. Same with Vancouver, Sydney, London and a few other mostly Anglophone cities. The corruption drive in China has been driving cash into the West.

One of the zerohedge guys left though and revealed himself and the other guys. So it's not as anonymous as it used to be since only like a couple guys write a majority of the articles.

this

can we get a link to some site with stats? I wanna laugh my ass off at the retards who used housing as a primary investment

>Put $60K down
>Try to walk away
>Owe $360K

Housecucks can't walk away in Canada

And this is good cuz...?
Who the fuck wants to live in Toronto? Like for real.

Canada's economy is 26% RE, $445B/1.723T. The whole Ponziconomy is built on the RE bubble. CMHC=Freddie/Fannie, $950B in contingent liabilities (mortgages insured) vs $16B in equity (also primarily based on RE prices).

anyone who cant afford New York or even Vaoncouver.

New York = low unemployment, business/financial center, international city, super high salaries

Toronto/Vancouver = shit salaries, no finance outside the Big 5, disgusting and filthy, low salaries

>a leaf

zerohedge is deeply connected to russia, has been from its inception
>I've read it since it was on wordpress, not a hater

really? just a matter of time

let it burn

trebhome.com/market_news/release_market_updates/news2017/nr_market_watch_0717.htm

bloomberg.com/news/articles/2017-08-03/toronto-home-prices-in-record-monthly-drop-as-sales-plunge

If the damage is contained it could be helpful to first time homebuyers in the city. The sales-to-listing ratio is what's alarming. It could trigger a huge price drop which wouldnt be that bad...Toronto has a rental shortage and rent is ridiculous right now so home prices dropping could help out the people that live and work in the city.

If you know the city its got a core of condos and then a bunch of residential neighborhoods surrounding them...those neighborhoods are either high income single family homes, or they are getting gentrified, and gentrified fast.

Majority of the people under 35 who work in the city are renters and in condos...rare to see someone under 35 that can buy a house in the city...theyre forced to sit on the GO train if they want that pickett fence and front yard.

Dont think this thing will be that much of a happening.

>being this much of a newfag

Housing will always be a solid investment in stable areas. Problem is, too many people want to make instant riches in big cities and screw it up eventually.

Then don't sign a contract promising to buy the place? People mistakingly think a down payment can act as a termination fee that let's you back out of a deal. It's just an advance on a sum of money you owe.

>Government institutes tax on foreign investors. Meanwhile, new restrictions are put on taking out mortgages. Meanwhile, BoC sets interest rates higher. Meanwhile, the CAD recovers on strong Canadian economic growth projections.

>Demand for housing goes down, consequently, supply goes up as construction projects are done years ahead of time and this was suddenly announced months ago.

>Supply starts outpacing demand for housing

>Meanwhile, as people wait and see how far housing prices drop, people choose to rent instead of buy, causing rental prices to climb to brooklyn levels and rental availability to hit ~1%

HELP HELP THE SKY IS FALLING! THE EXACT SHIT THAT HAPPENED IN VANCOUVER IN THE SHORT TERM AFTER THEY TAXED FOREIGN INVESTORS BEFORE PRICES REBOUNDED IS HAPPENING IN TORONTO! PULL ALL MONEY OUT OF CANADA!!!1! IF ZEROHEDGE IS FEARMONGERING IT MUST BE TRUE!

Rich Chinese people were buying up tons of Canadian real estate, driving up prices while not using it for anything.

It's actually been kind of a problem.

For example, my dad sold his property in April. Once everything was signed, He planned on using that money for several business projects and took out loans and leases accordingly under the assumption that the money he was promised would come. The buyer suggested he might want to back out of the deal but we threatened to sue him for damages because we made investments under the assumption that his purchase was legitimate.
You can't unbuy realestate, just like you can't unshort a stock only because you made a wrong judgement.

This is a good thing tho.

>extremely effective, like we have

globalnews.ca/news/1802235/toronto-ranked-as-best-place-to-live-in-the-world-by-the-economist/

>Who wants to live in Toronto

It is the place in Canada with the most jobs. Maybe not for specific industries, but overall. If you're considering living somewhere in Canada, Toronto is going to be near the top of the list for purely economic reasons. Canada is urbanising very quickly because urban areas are where the biggest growth in jobs are.

Even if you're not Canadian, from an immigrants perspective, it's often perceived as a way to get closer to moving to the US because of the interconnection between both economies, Canada is easier to get into, has a stronger social safety net, and there are various immigrant enclaves in Toronto providing a social safety net and familiarity on top of that.

>Housing will always be a solid investment in stable areas.
I don't know about always, see Detroit.
But uaslly over the long term you are right, but people think a house will *always* be worth more in 5 years, which is wrong, maybe in 25 years, but cycles exist short term.
Also long term house holding is expensive. It takes $20,000 to replace the pipes which need to be done every 20 years or so, and likely 5 years after you bought it becuase the sellers aren't going to bother. Takes $10,000-15,000 to replace a roof, usually on the same time scale.
If you aren't renting it out, it's a tax drain, and if you are renting you have to pay for repairs because most renters treat places like shit and normal manentince

Additionally, the Canadian government is fairly corrupt on the issue of foreign investment and allows Chinese Money Launderers fairly easy access to the Canadian Real Estate market where there is relatively little risk of losing your investment in the long long term. Canadian real estate will have value even if fiat currency collapses, and the global economic system crashes to the ground, land like gold has lasting value even if such eventualities happen, and people have trust that property they buy in Canada they will still possess in 50 years, so it's considered an unusually stable long term investment. Investing in Canada is kinda like investing in the US, but the banks here take less retarded risks, and immigration here is easier. One can joke about how much of a bubble the Canadian economy is, but literally every countries economy is a bubble, so people are just taking guesses at which economy is the most stable. Most major cities see investments in real estate for similar reasons.

You can also bypass every restriction on foreign investment by sending your brat kid to learn at a Canadian University and buying them a house and having them live in it. U of T is a good university and your kids can learn from an actual internet meme, and McMaster isn't so bad either although it's nothing to write home about.

Yes, in a rising price environment (aka a bubble inflating) no seller will sue because a new buyer will show up the same day with a higher offer.

The problem is once the bubble collapses and you sell at the top with the closing date 2-3 months out and then the buyer bails. If people are suing, it's almost always indicative of that.