"It’s difficult to overstate just how important real estate has been for the Canadian economy."

I.E. WE'RE FUCKED.

macleans.ca/economy/economicanalysis/chinese-real-estate-investors-are-reshaping-the-market/

The important parts are here:

>Meanwhile, Chinese developers have made buys in locations that have left analysts scratching their heads, including Nova Scotia’s remote Eastern Shore and an abandoned mining town in the B.C. Interior. The stated reasons for such purchases don’t entirely compute (neither seems the likely site, as owners and local officials suggest, for a full-service, self-contained vacation community).

>a full-blown crisis in the Middle Kingdom could well have the opposite effect. If offshore investors suddenly believe their livelihoods are at risk, they may have no choice but to quickly offload overseas houses and other assets in order to pay back creditors. In other words, instead of simply fretting about overzealous Canadians sparking a major housing crash, now we need to worry about a made-in-China crisis, too.

This is not going to last boys, just like the high prices in oil and resources didn't last. Why are people buying land in Nova Scotia or even Vancouver? Because of new and exciting economic prospects? FUCK NO! It is because other people are buying the land! This is the end product of QE and the Chinese Stimulus of 2009 - chasing fundamentally unproductive and speculative assets like real estate. Sooner or later, the smart guys are going to realize this is a giant circle jerk and get their money out as soon as possible. And everybody else going to be left hanging to dry.

tl;dr Our leaders are going to crash the plane with no survivors. The Fire Rises.

Other urls found in this thread:

bloomberg.com/news/articles/2015-01-08/canada-home-prices-are-63-too-high-deutsche-bank
twitter.com/cbcalerts/status/730778437535797248
twitter.com/AnonBabble

God I love these threads

It's like watching a train wreck I don't want to watch but can't look away

Forgot this quote:

>They could be considered the main engine of Canada’s stop-and-go economy, and for those along for the ride—builders, property lawyers, revenue-hungry local politicians—the question isn’t so much what Chinese buyers are doing to the Canadian property market. It’s what might happen without them.

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I do not understand this.

>dat debt to GDP

JUST

Do you mean you don't know what a housing bubble is or you don't know WHY Canada would want a housing bubble?

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My aunt/uncle just sold their house in burnaby

best fucking time to do it. They got like 1.5m for it and it's a tiny ass house. Now they've got practically a mansion in maple ridge plus enough money left over to basically retire.

I don't understand either thing to be quite honest.

t. simpleton

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Fort McMurray is next, with all the burned down homes giving way for free space to have new homes built upon. Chinese investors will flock to it like crazy.

I can barely wait for the bubble to burst

bloomberg.com/news/articles/2015-01-08/canada-home-prices-are-63-too-high-deutsche-bank

>"Homes in Canada are the most expensive, being 63 percent overvalued, the bank said in a survey ranking Organization for Economic Co-operation and Development countries’ markets. The measure reaches 56 percent in New Zealand, the second-most priciest, 53 percent in Belgium and 49 percent in Australia."

>I do not understand this.

Vancouver is like London, but with Chinese instead of Arabs and Russians, and with less of a real (or even a financial!) economy.

So this is like the American housing bubble they had some years before? Only provoked by external agents

Fucking hell Canada. If Vancouver housing market goes it'll probably leak into Northwest US and hurt take the US down a few points in the market as well.

Wow.... If America got fucked as hard as they did in '08, what the fuck is going to happen in Canada?

Conquest through simple purchase. They will acquire the land, oen the businesses, then start to write the laws. Already China projects censorship outward, killing Hollywood projects, limiting political discussion on cooperative forums and defining the boundaries of the expressible.

Well housing bubbles are when you increase the prices of housing (usually with mass immigraiton and cheap credit) in order to make a lot of money for banks, home owners etc

Basically boomers bought houses when they were cheap and they want to sell them at a high price to make a lot of money.

The best way to do this is to import millions of immigrants and to use cheap credit (easy loans) to bid up prices.

This works great for every boomers that bought a home from 1960-1990 and for banks because of all the mortgage debt securities they can trade to create a price bubble, but it sucks for any millennials since they can't afford anything.

Oh fuggg.
How does This effect Europe?

problem with the chinese buying out your real estate?

boo fucking hoo. welcome to , man. Been happening here down under for a decade, and our govt is even selling our agricultural and farming lands to the chinks so they can grow their own shit and move it back to china so our farmers can't even make a profit on it

we're all fucked.

Why are the Chinese allowed to do this? Why doesn't your government take the property from them and tell them to fuck off

nothing.

chinks lose their investments on some frozen wasteland real estate.

either that or they keep the land and its off the market for who knows how long.

This is a very real possibility. New Orleans was completely taken over by out of state investors able to handle reconstruction costs.

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Gotta love when these chinks send their shit head grandparents to live in their newly acquired property.

Is land as expensive as build houses?

Diluting the market in a mass sell-off will cripple Canadian investors as well.

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...so just another instance of Fuck your own country up for money.

not really when they're selling off useless land.

even if they sell useful land its only a temporary decrease on anything else anyone has.

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>Wow.... If America got fucked as hard as they did in '08, what the fuck is going to happen in Canada?

I don't know. I think the government, controlled by FIRE industry, will bailout the banks if they fail. And if causes problems, then they will go to the IMF, which assrape everybody else besides the FIREmen.

It's the boomer way of life

>they may have no choice but to quickly offload overseas houses and other assets in order to pay back creditors.
How do you offload a house? By defaulting payments?

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I remember when Canada was bragging about their banking system in 2008 and how they didn't have a crash

lol

lol

lol

Well, what goes up must go down.

Is there any reason foreigners should be allowed to gobble up property in a country they do not reside in?

The whole thing makes no sense aside from greed.

in aus we have a simmilar problem with chinese investors in our real estate sector.

>Is land as expensive as build houses?
i live quite far from any capital city, and to buy land you're looking at around $450-$500k, and to build a house it costs roughly $350-$450k

Skyrocketing Housing prices, high food prices, jesus fuck christ.

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"Not if we increase the number of immigrants forever!!!!!"

-Boomers

But this graph It is Canadian income vs household debt. Canadians have been sucked into the inflated market that international investment has created. They're well and truly invested in these massively inflated properties and when their value plummets, Canadians will be the ones defaulting on their loans and fucking both themselves and the banks.

These look like the houses listed in the foreclosure section at 20-90k.

Oy gevalt!

It's not just Canada though, it's happening to Australia, New Zealand, the UK, and even the United States where you have entire condos just sitting empty as foreign capital seeks safety in real estate

The generation that fucked everyone and their kids are nothing to write home about either.

You can thank Harper for this, faggot. It's true that le weed man is an insufferable flaming faggot who is also dumb but he didn't create this problem (instead he has this problem on his hands and won't know how to do anything about it)

It's alien even to me.
Can get a three bedroom house for fucking 90kUSD here.

the ones at risk are chinese investors and canadian banks

The people who would actually WIN something out of this are regular canadians, as all the overpriced housing would be going for firesale prices and homes would become affordable to regular people.

Instead what will happen is, regular canadians will get fucked over and have their money taken away from them in order to bail out the banks who got fucked up in this housing mess. Chinese investors will get swindled, and the rich banksters will get even richer, having successfully swindled both the chinese and the average canadian.

Because Trudeau is a fucking liberal faggot who likes to virtue signal throughout the world instead of helping Canadians.

Point in case:

twitter.com/cbcalerts/status/730778437535797248

Good, let it all burn, literally and figuratively

>Sooner or later, the smart guys are going to realize this is a giant circle jerk and get their money out as soon as possible
The smart guys fucking STARTED this circle-jerk, they know exactly what the fuck they are doing and will pull their money when it is profitable to do so.

So, what you're saying is, even if I hold out for the bubble popping I'll never be able to afford a home in Vancouver.

>just cuck my shit up

Land owners are voters. Chinese have experience bribing politicians. Higher home prices is a win for politicians, and so are bribes from the Chinese. The losers right now are first time home buyers, which studies show young people prefer to rent anyway, and the losers later on will be home owners. Mainly the Chinese, because Canadians bought their houses before the prices got this high. Canada is getting pumped full of money by the Chinese and they Chinese will lose it when the market collapses. It sounds like a winning situation for Canadians to me.

The American housing bubble was fueled by debt swapping & free mortgages.

Canada's is billionaires (foreigners) buying up all the real estate to sell too other billionaires with a markup.

When they decide it's not worth it anymore, they'll leave.
Which will take all the wind out of the housing market & construction companies.
Which will cause a massive correction.

Which is when I'll finally buy my property(ies).

Buy low fellow Canucks, not now but soon.

You're forgetting the canadian's who are buying into the ponzi scheme right now while singing "too big to fail".

2nd to last paragraph kinda describes cryptocurrencies pretty well OP

You're not canadian, so you won't have the canadian government stealing your money to bail out the canadian banks

And unless you've bought a house in the fraser valley within the past ~10 years, you're not going to get severely fucked on the devaluation of your home when this bubble pops.

thank yuo philosopher you are truly my greatest ally

It's people like him that make me wonder how we can both be white. How we can look so similar (when compared to almost everyone else on the planet), and yet be so different.

He's like a different race or animal entirely. Fuck that cunt no flames are hot enough for him to burn in

This is why you have property taxes instead of income taxes to fund local governments. By doing it this way you make houses cheaper (less speculation) and makes people who work have more income.

Will we go to war with China?

Will Trudeau ever talk about this or is it too 'racist'?

>Is there any reason foreigners should be allowed to gobble up property in a country they do not reside in?
>The whole thing makes no sense aside from greed.

And our muh diversity and muh multiculturalism

>One oft-cited culprit for the barrage of offshore money are government programs aimed at bringing wealthy foreigners to this country—namely Canada’s now-infamous Immigrant Investor Program. Created in 1986 by the Mulroney government, it granted permanent residency to any foreign citizen willing to fork over $800,000, repayable without interest after five years. In effect, Canada had a nearly two-decade run of selling passports—on the cheap. (The U.S. demanded its investor-class immigrants create at least 10 jobs each, and Australia charged twice what Canada did.)

>In recent years, it became increasingly common for investor-class immigrants to set their children up in Canada to study, while the family’s main breadwinner continued to work and pay income taxes elsewhere. One federal study unearthed by Young showed that even after five years in Canada more than 60 per cent of investor-class immigrants reported no annual income earnings at all. And those who did reported earnings of just $21,000—less than that of refugees.

>When the program was finally suspended in 2012, and subsequently cancelled altogether two years later, there was a backlog of some 65,000 applicants. Quebec, meanwhile, is still running its own, identical version. But very few of its investor-class immigrants actually remain in the province. Data collected by Vancouver lawyer Richard Kurland shows that 94 per cent of those who arrived in Quebec in 2008 left shortly thereafter—most bound for metro Vancouver.

You read the last part right -- We let a province have control of immigration. Imagine if Florida, Scotland or Victoria had their own immigration policies, and you will realize how retarded this.

Very very similar situation here in Australia, has anyone tfw stockpiling cash so my mere student savings might be worth something if I can invest it at the right time
>tfw try to find a way to short the housing market
>tfw pretending to post homes/apartments on classifields sites at ridiculously low prices so the chinks and boomers get BTFO even more seeing how fast prices are dropping

What the fuck is wrong with you cunts?

Here in Texas, you can get a very nice house near Houston for about $200,000.

But it's true though, this bubble isn't fueled by our banks doing debt swaps n shit.

This bubble is being fueled by foreign property buyers & idiots buying at the high point that will get the shaft when the foreigner finish their "pump & dump" and they're stuck paying a $400,000 mortgage on a house worth $90,000.

It's a housing bubble crises. Similar thing happened to us in 2008. Blame the chinese and liberals

I am eagerly awaiting the crash. As long as it doesn't go full blown communism on the way down. Getting my assets into gold and waiting until i can buy up a bunch of shit for next to nothing.

I swear, i feel like i am one of the chosen penting this hard.

>a full-blown crisis in the Middle Kingdom could well have the opposite effect. If offshore investors suddenly believe their livelihoods are at risk, they may have no choice but to quickly offload overseas houses and other assets in order to pay back creditors. In other words, instead of simply fretting about overzealous Canadians sparking a major housing crash, now we need to worry about a made-in-China crisis, too.

These houses are like lifeboats for the upper class Chinese not investments. If the ship goes down in China which seems increasingly likely they're going to move permanently to these houses not sell them.

It isn't enough that the Chinese cook their books and trash their own economy, they have to bring other countries down with them. What does the Candian gov't have to ward off a housing bubble?

Pricing based on speculation weirds me out.
It all feels like a scam.
I don't like gambling or gamblers either.
I buy a lotto ticket every week, but that's it.

>>When the program was finally suspended in 2012, and subsequently cancelled altogether two years later, there was a backlog of some 65,000 applicants. Quebec, meanwhile, is still running its own, identical version. But very few of its investor-class immigrants actually remain in the province. Data collected by Vancouver lawyer Richard Kurland shows that 94 per cent of those who arrived in Quebec in 2008 left shortly thereafter—most bound for metro Vancouver.
>tfw live in Quebec.

>You can thank Harper for this, faggot. It's true that le weed man is an insufferable flaming faggot who is also dumb but he didn't create this problem (instead he has this problem on his hands and won't know how to do anything about it)

It's a problem brewing for a long time, going back to the Chretien years and the waves of investors coming for safe havens before the 1997 handover of Hong Kong.

Why are so many rich people buying real estate instead of investing in stocks or starting a business? Is the global economy mcfucked?

Their diversity gives them strength

Large parts of Canada is going to be attractive real estate once global warming opens it up for agriculture and easier mining operations.

The Chinese are thinking decades ahead

>What does the Candian gov't have to ward off a housing bubble?
More refugees.

What you said in terms of drop will only be for high price houses.

>73931242
>73931854

But I agree with you that Harper let it slide and often fanned the flames.

I have a leaf friend who thinks everything is fine in Canada right now.

What do I tell him?

There is a Economists / Professor out east that is being called racist for calling out a Chinese councilor in BC over his pals buying land en mass.

Calling for the reinstatement of the "Live in Canada to own land in Canada" law is racist according to rich Chinks.

this kangaroo fucking faggot sees.
YELLOW RACE WILL END IT ALL.

tell him to google local house prices

He won't believe anything you say because he's a Trudeaufag

>I have a leaf friend who thinks everything is fine in Canada right now.
>What do I tell him?

I don't know. Tell him to read some economic history?

The real long-term effect of this is Canada will be a majority Asian country by 2075-2100. Specifically South-Eastern Asian, with a heavy emphasis of Chinese, South Korean, Fillipino and Indian.

I've seen this begin to happen in multiple communities.
- For starters I went to Dublin Heights elementary school near Bathurst and Sheppard, back then it was mostly white. It is now apparently mostly Asian, specifically Filipino type Asians.
-The Thornhill community, the one I live in now has been steadily increasing in Asians too, and this community is 15km above the previous school, and is upper middle class Jewish/white. I've noticed that the elementary school there used to have mostly white kids but now the lower grade classes are becoming Asian dominated.
-I worked as a lifeguard by Don Mills and Steeles, which is Markham. Apparently numerous people have told me it used to be a white/Jewish community too 30-40 years ago before it was completely overrun by Asians (which it is totally now, were talking about a complete Chinatown style suburban community). I guess my community will suffer the same fate, regardless of how more expensive it is.

This country's number one problem is off the cuff unrelenting, uncontrolled immigration from Asia. They are causing white flight on a massive scale, and anyone living in the Greater Toronto Area who grew up here and has parents who were raised here can speak to this. They are literally destroying our communities and pushing us out, especially since they assimilate horribly.

Thankfully I no longer have to deal with this, I'm sorry to say Canabros but I'm leaving this country for better pastures in America after I finish my degree. I already got my green card. Good luck to all the people who will have to deal with this, not that it is fixable. We've gone past the point of being able to do anything, Canada has sealed its fate 100%.

People don't fucking get it. Its the same shit with all these governments. Just blaming the last guy holding the stick doesn't solve anything.

im 25 and i bought my first home when i was 22, since then its almost doubled in value. feel pretty lucky i got in when i did, no way could i afford to now

Ask him for some weed, he's obviously got the good stuff.

>Leaving Canada (80% white) for US(63% white) because communities aren't white enough.

Okay.

>b-but East Aryans are bros, rite guise! xD

They hate us just as much as the blacks and browns. They just go about it in a much more sneaky and long-term manner