When will these housing prices start dropping /biz/?
I am tired of hearing my parents speculating the price of their crack shack home, and how they plan to sell it for over 2 million dollars. I keep telling them no one will take the house at such a high price but they keep having delusions of grandeaur and dream of buying a luxury house and a new car.
How can people be so stupid?
This Friday will be a trigger. Guaranteed the bubble pops this year - not a good news for the economy though. If your parents were any smart, they would have sold their houses already.
Source: I'm in Toronto
The Vancouver boom will never end if you know anything about the geology of the area. It's so full retards build houses halfway up the mountains and they get washed away regularly in landslides. Fraser Valley is full yo.
TO is different, there is a lot of shoreline around Lake Ontario and the Canadian financial industry is ripe for a correction with more self serve internet banking and investing coming down the pipe. It could under go Detroit rotten core syndrome.
Up to the border for sure but its actually risky, Richmond is only a couple feet above sea level and Delta is literally a delta. I wouldn't invest in land there, maybe Langley.
heh, meant geography but yeah, the chink pit is bottomless. Some people predict the entire west coast of both Canada and the US facing huge migrant waves from Asia in the years ahead as the world really begins to run down. Big journey across the Pacific but doable.