Mfw Canadian homeowner

>Mfw Canadian homeowner

Any Canucks preparing for the inevitable real estate crash within the next few months?

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english.cctv.com/2016/08/24/VIDEBhJ3rInRnZgJE5NAAkVY160824.shtml
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If the market crashes, does that mean you get to stop making mortgage payments? Or do you have to honor the price a house was bought for?

Faggots.

You have to pay the same mortgage on the original price you bought your house for

Its real estate 101

Isn't that with fixed rate? If it was variable it would adjust

i want canada to burn. i need to know i was right about liberal economy. i need to see the theories happen to you in real life. i need to watch your cities turn a shade of brown and gas prices double. i need to see rising inflation along with rising crime. i want you to become homeless, i want your universities to close and become soup kitchens. i want quebec to to sink into the ground. i want to see your government try to fix it by selling off all gold reserves and printing bigger new bills. i want you to become venezuela 2.0

Well I'm 22 and live at home, so I'm weighing whether my parents and inheritance is fucked or not.

A market crash would be good for me personally, but if my parents have to work another X decades to pay for something that gives a huge negative return, it changes the whole gameplan.

well we already sold all of our gold reserves.... so there's that

Considering that real estate costs are rising in metropolitan areas more and more people are sticking with fixed rates

i want to see your culture suffer, suffer for being such faggots

Your country is already on the rocks and will go down with the ship if Hillary is elected

who hurt you?

ahahahaha

you think they make these rules to benefit you?

The price crashes, the rate will stay the same and fuck what you think about that.

its on the rocks because of obama. the same cancer idealism that has already consumed your country. keep in mind we have had obama for only 8 years since this globalism liberalism shit started. you have 20+ years of Trudeaus. I am praying every night that the seeds they sowed will reap toxic green potatoes. hillary isnt going to be elected.

Have YOU ever been so insecure in your political choices you wanted others to suffer?

My mortgage isn't that bad, and I didn't over extend myself like people in the GTA and Vancouver have

Why do you think the real estate market is going to crash within the next few months?

Maybe in Vancouver, Toronto is just going to pick up the slack. And if you live anywhere else nothing will happen.

not honoring a contractual agreement
>good luck with that
easiest class action lawsuit in history. That's a lay up for any lawyer

I dont believe in something until i see results and facts. i can have tendencies to believe whatever political ideals i want. i just want to actually see it for myself since i am so young and inexperienced. i want to become more convicted in my beliefs. im waiting for the despair of your country so it can reaffirm me. so what? i am ready to finally say: yes i was right ALL ALONG.

why the fuck would it be class action

And if you've got the lawyers for it, go ahead and try and fight it in court. These companies have the cash on hand, you don't.

Son, Canadian government played half-socialist protectionism with its businesses for decades.

Canadian banks actually survived the 2008 crash.

Venezuela got fucked because 1. it's an oil state and Saudi Arabia crashed the market with no survivors, 2. it's absolutely incompetent when it came to diversifying its economy.

Sorry m8, only a massive shitstorm from OUTSIDE could seriously fuck Canada. Like Petrodollar collapse. Or Chinese Housing Market collapse.

i swear to god this is the dumbest fucking board on this site.
class action is one lawyer representing numerous claims. You know so they don't have to hear the same case over and over again.

the rate just determines the interest

if you borrowed $1m to pay for a house that loses 50% of its value, you are stuck with a $500k house that you still borrowed $1m for.

you still lose $500k, regardless of what interest rate you are paying...

desu nobody needs to worry though

cuckdeau just announced he wants to import 300k chinks a year. they are all going to toronto/vancouver, where they will spend all their money on property...

house prices will never go down again because we now have an artificial floor in the demand which wont allow equilibrium price to drop past a certain amount.

basically, any time the house prices start to drop, more chinks will just step in and buy more because its now cheaper.

everyone is afraid that the chinks are going to pump and dump in our market, reality is actually far more frightening...

they are here to take over, they are going to buy up all the land and replace our entire demographic profile to asian.

hey at least they arnt shitskins/mudslimes/tacos. this is happening elsewhere too, we are getting the best deal imo since chinks are at least somewhat civilised.

And you're not going to be dealing with a class action in the given situation dumbass

class actions are for shit like toyota recalling their cars after they killed 300 people

class actions are not for you suing your bank because they didn't lower their variable interest rate like you think they should have

>Or do you have to honor the price a house was bought for?

Of course you do.
The bank lends you money to buy the house from the seller.
If you bought a house for 500k$ you are borrowing 500k$ to pay the seller *today* and your mortgage payments go towards paying off your debt to the bank.

You still have to pay your debt to the bank regardless of what happens to housing prices or interest rates, regardless of fixed or variable interest rates. You still owe the bank 500k$ plus interest.

If you borrowed 10k$ on a bank line of credit to invest in some company's stock, and the company went bankrupt and the stock tanked, you still owe the bank 10k$. And it'd be the same situation if it was a house.

Most of my family and friends, renters cover their mortgage. Not too worried about a correction. I don't see people not wanting to live in Vancouver anytime soon.

Shieeet my parents are selling a house. They better sell it quick kek

canadian culture isn't the same across the board bro. the cities are liberal but most of rural canada is conservative as fuck. it's like the difference between California and texas

your absolutely right
what would i know

>have 200 000 dollerydoo townhouse
>mfw my neighbor sold theirs for 430
>mfw mine is bigger better end unit
>mfw no face because rich

>BC's new "foreign ownership" tax

english.cctv.com/2016/08/24/VIDEBhJ3rInRnZgJE5NAAkVY160824.shtml

ca.reuters.com/article/businessNews/idCAKCN11822D

Hopefully Ontario considers this tax.

I'm rubbing my hands in anticipation because my neighbour's old and moving out soonish and if we buy her house my family will literally own our entire block

God I love having a Dad who knows what the fuck he's doing

Look, I get that the "Canada is cucked" and "leaf" memes are designed to make all the Americans on this board feel better about the fact that their country is the #1 poz vector in the world, but this is taking it a bit too far

>he thinks he can just walk away like the yanks did in '08/'09

m8

anyone who's entire asset class is in real estate fucked themselves into the (((housing))) jew, especially if you live in GTA/Vancouver areas.

Boomers who relied on the equity of their home to be their retirement cash-out and 31-55 who own little to no assets outside of their home and who have debt are the most fucked.

>this level of abject autism to validate yourself

why?

the hit will cripple Calgary first followed immediately by edmonton, then van city, ottawa, montreal, the GTA, and finally Toronto proper.

Toronto is too well insulated to feel the negative effects until it is well within the realm of total destruction. If the chinks relocate from VAN to TOR, it'll only prevent the drop for an additional 6-12 months.

m8, you should really like into the grinding halt that is our economy, being propped up by a real estate that has lost all resemblance of sanity

every think about selling, renting, and then using your canadian tire money to buy up several houses when the markets crash?

Thin skinned bitch, are you a fucking burger?

Bet you're from Toronto, so make that a veggieburger I suppose.

I hope Hillary wins

I hope the market crashes, I'm looking at buying a house soon.

Some battered woman syndrome going on here

>be canadian
>these people are "'"""""""""""protecting"""""""""" me

Yep, China is going to be the one calling the shots pretty soon. Figure it's a good time to start learning Mandarin?

>battered woman syndrome

Never said I agreed with the yank, just that rising to his bait and responding like a tumblrite is rather fucking prissy of you

>post yfw you realise your mortgage is paid and you have no intention of selling so none of this shit matters

>if you push back, he wins

>tfw bought a 900 square foot condo for $270,000 about a year ago
>literally $20,000 value lost 3 months later, barely breaking even now

just fuck my life up

housing market is a fucking scam, these ups and downs are so fucking dumb

sad display, desu.

both by Toronto and by you. This doesn't get a rise out of people. You already outed yourself for having extreme autism.

they'll be gone when the recession hits, and when we get hit for multiple quarters, they won't come back for a decade. Let's hope.

It's a good feeling, but I don't like the idea that canadians will suffer. Then again, it's mostly their fault, with their 167% debt-to-income rate.

>gets called out for taking a troll's bait
>"durr hurr he must be too afraid to speak up"

>he doesn't know that land prices will always gradually rise along with housing prices

rent until the market bottoms out, wait 18 months, if it hasn't recovered at least half of the total losses then it's a good time to buy (assuming you don't obliterate your savings and assets).

learn Cantonese fggt.

Anyone who gets fucked by this deserves it

Why the fuck were you BUYING a home if you didn't plan to live there the rest of your life? Just fucking rent or lease for chrissakes

>seven people reply to a bait post
>heh, this one guy really fell for it

...it's not funny anymore

I personally didn't buy b/c when I was in a position to, I felt it was an unwise move, being convinced of a crash was inevitable. That was 2012, and I've rented ever since.

grabbed this from an aussie in another thread

Nobody tells people that every single housing market is a bubble if treated as a good for growth and speculation and muh GDP inflation. Shelter is a basic human need, m9.

Just waiting on China to realise those apartment blocks are worthless since nobody lives there or conducts economic transactions of any kind, no matter how many they build.

>tfw 40 and renting

HAHAHAHA WHO'S THE LOSER NOW FAGGOTS??!!

Apparently, it's like a joke to get around. It's just a feel good law that's shown to people living there to make them think the government is helping them.

You're the only one who responded fr srs, buddy.

he's not your buddy, guy

how much do you weigh?

200 even

how short are you?

>mfw asshole co-worker just lost 200k

5'11

How long do you have on your mortgage faggot?

lol my parents pay for my apartment and my groceries and they give me spending money

>be 19
>still live at home and go to uni
>have 2 SKSs and enough bullets to survive 40 years hunting wildlife and fighting off the occasional bandit group
I'm so ready Sup Forums. Just make the happening happen already

Your parents still haven't paid off their mortgage? Lol what?