Should I be worried about this? I own a house, and I think this

>>133002894
houses worth 900k in march are lucky to sell for 750k now.

best startbelieving in happennings.jpeg

>>133002894
If you own your house what's the problem? Just don't plan on selling anytime soon and ride it out.

>>133002894
We can only hope. Anarchy is needed to replace that fuck we have in power and dislodge all the degeneracy he's put us through.

>>133002894
>I own a house

HAHAHAHAHAHA

>>133003337
Not if he took a variable mortgage and the rate hike pushes him over what he can pay.

>>133003509
>variable mortgage and the rate hike
oh fucking hell, canada still does that? we showed you guys a fuckin decade ago what happens

>>133003509
i work at a bank, we just adjusted rates upwards.... next week the real fun starts.

>>133002894
Do you have an adjustable rate mortgage?

>owning a house in Canada
I bet you also went to Uni for social changes too you cuck

>>133002894
Bad news, leaf

Your collapse has already begun, guy. However, feel free to relish in your free health care, friend.

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What does it all mean?

>Renter here

>>133002894
Do you have a mortgage? What kind?

What type of job do you have?

Without that basic information we can't offer you any advice that's worth anything.

>>133003726
Bank in Canada I hope?

>>133003677
its not the same as a subprime burgerfag. Most of the trigger rates are up at 7 and 8% right now and if it raised that much and you didnt convert to a fixed, which you can do, you deserve to lose your house.

i can see prime being 2% higher by this time next year but thats it and even then im skeptical.

>>133004004
yes. Shit is about to get hectic.

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>>133004174
>its not the same
sure thing pal

>>133003245
Lmao houses on my street sold for 1.2 million
>inb4 forclosures

>>133003964
can health care costs half per capita of US. it has its own issues but saying that our economy is tanking cause of free health care is bullshit.

On the plus side, a mega collapse will probably throw Trudy out on his ass hard. I for one welcome our new Chines-uhh I mean Conservative overlords.

>>133004307
i guess reality doesn't matter since you experienced something you don't fully grasp.

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>>133004422
>>133004422
WITNESS ME

>>133002894

Sneaking in a hike before the recession.

I don't even think rates have hit historical lows.

>>133004462
Witnessed.

Also OP is a shitposting leaf.

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>>133004422
CHECKED

>>133002894

I work for the ratings agency that just downgraded the big 6 banks in Canada.

Your mortgage, did you get a variable rate or fixed? Fixed rate you should be ok, but variable rate means you're going to have a bad time.

Canada is going to go through a mortgage crisis. Our big hope right now is that Canada's housing crisis, China's debt problem and slowing economy, Europe's everything problem, don't compound to create a global recession. Its looking like it will be recession later this year.

Also, filthy fucking canucks, stop taking out mortgages you can barely afford.

I own 300K in investments, those are my lifetime savings to buy a house, should I wait until shit hits the fan?

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>>133004642
>Also, filthy fucking canucks, stop taking out mortgages you can barely afford.

but those houses go up in value $700 per day anon. Who can say no to free money!?

>>133004642
House prices in Canada have always been ridiculously overpriced.

A 300k house in US would be 800k to even 2 million here.

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>>133004750
More information on this please, I have money in ((((mutual funds)))). Are they going to clean me out?

>>133004642
How does this mortgage crisis affect non-homeowners, if at all?

So many bank larpers ITT.

>>133004315
Never made that connection, friend. Just trying to cheer the leaf up, buddy. No out-of-pocket ER costs to treat OP after attempting suicide, guy.

>>133002894
If you're still paying a mortgage, you should be fine. As long as you got a fixed rate mortgage, changing interest rates shouldn't effect anything. If you have an adjustable rate, kill yourself right fucking now.

>>133004925
we are all just the universe larping, anon.

>>133003677
They still cut variables here. But most people learned the hard way as to how stupid they are. The idiocracy fall for the low teaser rates. I have always gone for 30 year fixed with a good down, some say paying a higher interest rate is stupid, but if your down payment was hefty, your payments are low,so then you make principle payments lowering the interest applied to the balance.

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>>133004422

Ooooooohhhhhhh I'll 'membah this!!!

>>133003245

Housing prices going down is a good thing though. More people can afford to buy their own houses, rent goes down for those who still can't. The only people who get hurt are those who buy houses for investment, and they're the ones responsible for this shit in the first place.

>>133004174
>its not the same

That doesn't make it not retarded, either, leaf...

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I'm not worried for a number of reasons:

Rates have been super low to fuel economic recovery. If another crash happens and the rates are this level they can't lower them anymore and then we'd be in real trouble. An increase in rates is needed.

To analysts, an increase in interest rates is an indicator of real economic growth. They anticipate the loonie to reach as high as $0.80 USD in the coming months because of this.

New federal mortgage regulations require those applying for mortgages to undergo a "stress test" and meet more strict debt ratios to make sure they can handle an increase in interest rates.

The housing market is way over valued, this will help cool them off, especially if the government gets its act together and start cracking down on foreign investors using Vancouver and Toronto housing markets to launder their cash.

Anyone who used a mortgage broker and financial planner worth their salt should have anticipated their rate increase and not max out their budget when rates are at their lowest ever. If they can't anticipate an increase then tough shit.

>>133004908
>How does this mortgage crisis affect non-homeowners, if at all?

Well it will completely collapse your economy and likely destroy your currency.

>>133004908
It affects us in that we can sit back and laugh at all our smug friends who can't stop talking about how much their houses are worth.

Get comfy.

>>133004750
Go into FOREX. Buy rare Pepes.

>>133004238
What bank? My brother works at RBC and says he doesn't think it will crash but it will plateau. I believe he believes it but I remain skeptical

>>133005289
>the loonie
I still can't believe this how you call your currency.

>>133005412
Nah I'm good, I also own some good amount in cryptocoins like 10BTC and 30 ETH. Forex is too risk for me.

>>133005273
> take variable rate at 12 month intervals
> watch prime keep going down , down
>pay off more of principle
> see rates rise
> lock in a fixed rate

what is so hard about this ? I shaved 10 years .. TEN YEARS off my mortgage this way.

>>133005355
>Well it will completely collapse your economy and likely destroy your currency
Excellent, I was thinking of necking myself anyways so this will be extra motivation.

>>133005663
It's just slang because it's got a loon on it. The two dollar coin is a twonie (toonie?). I literally don't know how to spell that now that I think about it.

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>>133005663
Yeah.. isn't it.. LOONIE?!

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>>133002894
> start a collapse
That where you are wrong. Its already here and if you didnt already dump your house you will be in an upside down mortgage by September. I say torch it

>>133005826
>>133005785
Canada is a Jewish psyop to make the world seem weird.

>>133005763
>complete impossibility

Own my house, all these liberal hipster in my area north of me are gonna be mad mad mad baddies mad mad mad once this shit hits, I love it.

I sold all my land for $$$ thanks to the 407 taking it. I'm gonna fucking enjoy buying some cheap land in the coming years.

>>133004862
Invest in gold. At least 15% of your portfolio should be precious metals. While they don't increase in value as quickly as a mutual fund, gold will not lose value during recession.

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>>133003966
>mfw

>>133003509
If the house is mortgaged, he doesn't own it

>>133003509
>taking a variable mortgage

Lol ecks dee

>>133006041
> accelerated bi-weekly
> 7 years of lowering rates
> started at 25 years , now have 8 left. pretty simple. as rates lower more of my payment went to principle.

>>133005678
How many shekels ya got?

>>133005270
what is a smart person like you doing on a jewish conspiracy fearmongering board?

shoo shoo

>>133004315
This is a shit meme.

There are 10x as many people in the US and they receive more prompt care that is superior.

There are things the US can do (DEREGULATIONS) to lower the cost of healthcare but neither party is willing to that route now. And they're hobbling toward some shitty single-pauor garbage that is run through insurance companies thereby killing not only one industry but two. Good job, USA.

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>>133006442
>jewish "conspiracy"
>conspiracy

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>>133006442
>conspiracy

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>>133005359
just sold my place in Ontario now renting in Alberta for a while, may have been good timing... once the housing ponzi scheme breaks it's going to get ugly, it's all that's keeping ontarios economy afloat

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>>133006600
>4 repeating doubles
Alright, digits confirm then.

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>>133006600
>33006600

amazing

>>133005270
>More people can afford to buy their own houses, rent goes down for those who still can't. The only people who get hurt are those who buy houses for investment, and they're the ones responsible for this shit in the first place.

this, this price collapse will put food into people's mouths and money in their pockets if they are poor (so most leafs)

you shouldnt be worried if youre not a poor faggot, the dollar is going up

If you're in Vancouver or Toronto you should worry. Although, if your income level in high enough to carry you through a seven points increase you should be ok.

>>133009059
What if you're a poorfag in metro Vancouver?

>>133009448
would an extra 200 dollars a month put you under? youre fucked

>>133009448
get a business license and pretend to hire chinese. they pay you 20k for 3 months. Pretend hire 100 and take in $2 million. The fines are way less than what you'll earn.

Good I hope this country collapses so I can move to Poland. Fuck this multicucked embarrassment of a country.

>>133010211
Take me with you nigga, no homo

>>133010211
>>133010349
>implying you pussies will last a month in Polska
kekkest of keks

>>133010211
why poland and not ukraine?

its even cheaper than poland. you can own a brand new apartment for 30k and doesnt require a visa to enter for canadians

>>133010519
I'll sell my butthole

>>133010561
>why poland and not ukraine?
There's a war there?

>>133010758
its perfectly safe or are you planning on living in donetsk?

>>133005122
Why will an adjustable rate fuck you up?

>>133010561
can i survive with only english?

Moving this thread to /bant/- lack of source and only 1 post by the OP.

>>133004642
But a fucking bungalo where I work is up to 1.4 mil.

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>>133002894
ya faggot anyone with a brain knew the housing market was super inflated prepare your anus buddy its time

>>133011224
Because it will adjust with base rates, anon. Your 1.99 now could be a 7.99 in a rising-rate environment, which is where we're headed.

>>133011229
probably

>>133004908

It won't be as bad as 08. Mortgages are nest eggs and a source of wealth. It will affect retiring baby boomers and millennials with a first home. Non-homeowners will see unemployment rates go up, wages stand still nail the banks get past this.

>>133004847

Yeah no wonder House Hunters has a fucking Etsy store owner and volunteer at a pet shelter budgeting $1.2 for a new house.

>33000000

>>133005270
Fucking moron. Everything is tied to mortgages. They are the equivalent of US Treasury bonds locally. People make their payments because they have to live somewhere and female emotional attachment to the nest. Mortgages are the basis for more risky loans.

>>133012469
>>133000000

>>133005289

You're too close to it. The rates cannot go much lower by the central bank. The rate increase is to counter inflation.

Plateau, no question, but a crisis/crash is coming to Canada. Home values will drop.

>>133002894
Why do you care? As long as you live in it, it will eventually get back to it's real price. If you are sure it's overrated now, sell it, put the money in the bank and pay your rent with the interest rate. And when the prices get down, just buy a bigger one.

>>133003427
American dream everyone. Fuck property and fuck drumpf.

well, they have to. considering they will be making payments to terrorists in the future

>>133012980

t. donkey as transportation for ransacking graves

>>133013223
Only gypsies bury their own with jewellery and household items inside their graves, so I don't see what's wrong with ransacking.

>>133012980
It's complicated, lower property value is lower taxes but potentially immigrants and niggers could move in, if OP is considering longterm habitation. He also has a lot of money tied into the equity, and likely has a mortgage based upon previous price. This means he can't sell the house if he needs to without a short sale, especially if the market drops further and plummets.

>>133015318

Not to mention if OP has a 2nd lien for a HELOC with a balance, he is fucked.