Canadian Collapse: Home Sales Down, Home Value Down. Interest Rates UP

I hope you boomers lose half the value of your homes. You're the garbage of the nation.

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>>133970866
BOOMERS ON SUICIDE WATCH

yes

YES

keep dropping FOREVER hahaha

>>133972296
They deserve it.

Isn't this good?

I shared this sentiment until I bought my own house. Now I love the idea of making a profit just for holding onto something for awhile.

>>133972380
This will drive down rent and hopefully shake the confidence of the chinese.

They'll be less likely to put it into a house if they think they'll lose another 40 percent of their dirty money.

>>133972649
Yes

>>133972743
good for you.

>>133970866
People in my building in Coquitlam listed their 3 bedroom condo for $659k and got well above asking price. It took them two days to sell it. I'm set to do the same. I think Vancouver is still well inside the euphoria phase.

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>>133972835
You are clearly quite the expert.

>>133972935
Well, actually living inside the market and witnessing first hand what is happening right now at this very moment I can say that I'm actually more qualified to speak on the subject than you. Two weeks ago my in laws neighbor just got $1.5 million after listing for one week, it was on the market for $1.2 million. My friends dad that lives in the same neighborhood just closed on a land assembly and was given $3.1 million for his home which was assessed at $1.2 million.

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March (916K avg), April (920K), May (863K, -6.2%), June (794K, -8%), August (rumoured sub 700K)
>sub 700K

I'm literally hard. my dick is going to explode.

>>133970866

I can't wait for this to happen in America

Fuck boomers

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hnnngggggg

>>133973529
finally a happening

>>133973405
>Leaf you LEAFED that copypasta from

Homes in Leaside (Toronto C11) that would sell for $2M are going for 1.1-1.2, $800-$900K off.

>>133973699
The price drop will accelerate! Why buy now when you can wait and they'll be cheaper!

>>133973785
>Homes in Leaside (Toronto C11) that would sell for $2M are going for 1.1-1.2, $800-$900K off.

my dick just exploded.

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>>133973699
can't deny these numbers, day of the rake confirmed?

Rural properties are the one's that are dropping.

>>133973785
You should compared the assessed value from the city, which is a straight forward Google search, to list prices you find on realtor.ca. if you do that, you will see exactly how overvalued those homes are.

>>133974009
They're largely horse shit, senpai.

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>>133974009
it's even worse than it looks.

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>>133973938
16 Thursfield April

List $1,188,000
Sold: $1,551,888

30% above list

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>>133974438
78 Thursfield July

List $999,000
Sold: $1,131,000

Same size lot, identical house, up the street
-$420,000 in 90 days

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WHEN CANADIANS ACTIVELY DENY REALITY IN 4CHAN THEY MUST GET SOME KIND OF CATHARSIS.

>post as many individual cases as you want bud
>reality continues unabated.

>>133974438
>>133974646
so your few anecdotes disprove statistical data? where did you go to college?

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152 Randolph April

Lot 30x120 = 3,600 sq ft

List: $1,489,000
Sold: $1,950,000

>>133972835

From what I've heard the condo market is fine and the house market is plummeting here
Selling our apartment on the beach in English Bay to buy a house

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>>133974934
75 Randolph July

List: $1,499,000
Sold: $1,265,000

-$685,000 in 90 days for a ~50% larger lot

>>133974750
I'm showing how severe the crash is you fucking idiot

Leaside/C11 is a leading indicator when it comes to Toronto RE

>>133975288
sorry dude I'll delete my posts i'm wasted. I've been on the sauce since the bitcoin crash

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>>133970866

Here's what will happen;
Big selloff, big glut, lots of people forced to sell being stuck with the losses because everyone's overleveraged thanks to 0% loans for years.

At first idiot commentators will be like "is this the end of chinese domination in Canada"? But then when it hits the bottom and the middle and poor classes get stuck with the bill, foreign money will sweep in to buy up everything, prices skyrocket and now your only choice is a rental from ChinaCorp or RussiaHovel.

>>133975288
the only useful data would be what they bought the house for initially with inflation

>>133975456
>foreign money will sweep in to buy up everything, prices skyrocket and now your only choice is a rental from ChinaCorp or RussiaHovel.

that's pretty bad. i doubt the government will do anything to stop them, that would be racist

>>133975409
BTC/ETH is a meme. August 1st it might be halted and go to 0 if the autists don't agree on whether to branch the blockchain. I'm fucking pissed Poloz raised, all my assets are USD and I convert to CAD to live so USDCAD going from 1.35 to 1.26 on Poloz' psychosis fucked me too famalam

But yeah the crash is going to be epic with RE. It's literally the only reason people aren't homeless on the street. Soon they will be though..

>>133972743
Unless you own multiple pieces of property and actively make money off of it, your home is not an investment.

>>133974438
>>133974646
>>133974934
>>133975132
Why are these shit houses so expensive?

do canadians also build their houses with sticks snot and cardboard like the amerilards?

>>133972296
>tfw your retirement cottage and summer home drop below the value you paid for them originally with your bloated pension
Dang nabbit, stupid youngins ruining the economy in my golden years. THIS WAS MY TIME, YOU ARE RUINING MY RETIREMENT.

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>>133975409
>I've been on the sauce since the bitcoin crash
topkek, another poor victim of /biz/ and their madness

>>133976016
chink demand

It's incorrect to blame boomers in this regard. They're just taking advantage of the market exactly the way you would and should. Playing the market makes the market more efficient and this is better for everyone.

What you CAN blame the boomers for is the credit expansion that caused this bubble in the first place. The boomers put in place (or at least failed to dismantle) the monetary policy that allows way too many cheap mortgages. When you have an unnaturally high supply of loans, you can demand more for every house. Hence, unnaturally high housing prices.

Once again, central banking rears its ugly head. If our generation fails to dismantle the central banks, our children will shit on us they way we're shitting on the boomers.

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>>133975710
>At first idiot commentators will be like "is this the end of chinese domination in Canada"? But then when it hits the bottom and the middle and poor classes get stuck with the bill, foreign money will sweep in to buy up everything, prices skyrocket and now your only choice is a rental from ChinaCorp or RussiaHovel.

Speculators aren't going to buy into a declining market that will stagnate for years.

The IMF came out and warned that Poloz was fucking insane the day after he raised

https://www.theglobeandmail.com/report-on-business/economy/imf-warns-canada-on-housing-trade-urges-caution-on-rate-hikes/article35680168/

>“The main risk on the domestic side is a sharp correction in the housing market that impairs bank balance sheets, triggers negative feedback loops in the economy, and increases contingent claims on the government,” the fund said.

aka house prices drop 20%+, economy crashes because people can't tap their home equity credit line, banks go insolvent because their Tier 1 capital ratios get BTFO, they start putting in CMHC mortgage insurance claims which is backed by the Government of Canada and the Canadian government has to bail out the CMHC by issuing hundreds of billions in emergency debt, destroying the loonie and interest rates would skyrocket as the debt would be toxic. The increased interest debt would fuck the economy even more etc

CMHC insures $950B in mortgages yet only has $16B in assets (60:1 leverage).

Vancouver fag here, sitting on daddy's deck, taking in the pacific ocean views. Feels good senpai

>>133976034
If you are not intending to sell your cottage and summer home why do you care? Nothing changes for you, doesn't it?

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IT ALL COMES CRUMBLING DOWN

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>>133976016
>>133976056
Foreign investors in Toronto are <5%.

It's a clusterfuck of a housing bubble, one of the biggest the world has ever seen, after Tokyo's, although very close.

It's fueled by mortgage insurance, backed by the Government. Banks are giving out NINJA loans and offloading any risk to the government, just like US banks did with Fannie/Freddie. In fact the CMHC (Canadian Mortgage & Housing Corporation) has $950B in liabilities yet $16B in assets, leveraged 60:1. More than Fannie/Freddie at the peak.

>>133976465
allowing aliens land/property ownership is the root of this problem
inappropriate taxation of homes that aren't one's residence is another

>>133970866
Good. As a young 26 year old all I want to do is marry my 19 year old GF and have 5 kids. But I make shit for money right at the moment.

How the hell am I suppose to afford a house at these prices while both me and her are still young?!?!?

>>133976815
>leveraged 60:1

It's actually kind of impressive in a dastardly way, like a masterful robbery or something.

>>133970866
>Canadian collapse

It's like you don't even keep track of the US/CAD currency rate

>>133976944
Live in a trailer park. That way you can have tons of kids and live cheaply.

>>133976944
Save as much as you can, and wait for the bubble to pop. That's how I bought my home in California. Bay area prices plummeted after the housing bubble popped.

Now the rent bubble is exploding, and my mortgage is lower then the monthly rent on a studio appartment. Plus all my tax breaks for owning are great. Suck it renter scum!

>>133977177
It was hard enough convincing her away from the ZOG mind virus that anything over 2 kids is economic suicide(but always room for dogs ;) ).

Living in a trailer park would how to be a option of desperation. Plus the dream is country living, fourwheeling, hunting, and just being efficient... But that takes land*.

>>133977016
candians do that since america matters to them. canada doesnt matter to us unless we feel like visiting your gimmick waterfall on your side

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You know what? Fuck you. I've had it. I've tried to play nice. I've tried to laugh it off. But enough is enough. The Canada-hate thing is getting old. I know we have a reputation for being kind and polite, but that ends now.

The Canada-hate has to stop. First of all, it's based off a lie - that we're cucked because our Prime Minister is a “cuck”, as you call it. That isn't even true. Justin Trudeau is a former boxer, snowboarder, and environmentalist. Name me one "real" man who can claim even two of those things! He said if you kill your enemies they win, because if you have to resort to killing, that means you couldn't hold your own in a ration debate. Secondly, Canadians aren't shitposters. We speak our feelings. We tell you the truth. We share our opinions. If that's what counts as shitposting these days, then call me an Aussie. I don't know why Americans are so intimidated by hearing genuine, thoughtful criticism of their country and their politics, but you obviously are. All I can say to that is: deal with it. It's the 21st century. This is the information age. If information scares you, then go back to your bumfuck trailer somewhere and hang on to your delusions. Me? I'm a freethinker. I'm an idea man. I thrive off of enthusiasm. And I fucking love science. So when a Canadian is nice enough to offer you constructive criticism, take it as a compliment. Because we want to see you thrive as a country. We want to see you progress and follow us into the future.

End Canada-hate NOW.

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>>133977647

>>133977568
land is the holy grail of property. Building a house is a lot cheaper than most people think and isn't really that hard to do if you have a few friends who know what their doing. But to buy land in BC (for cheap) you have to completely exile yourself from Vancouver or put yourself on an island where the population is below 500, where power outages are common and BC hydro takes 4 days to get to you because the waves are too strong for the ferry to make it.

>>133970866
is China going broke?

there will be civil unrest soon... it is why the cops look like the fucking invasion of iraq.

>>133977647
You are right about one thing leaf. No real man can claim even two of those things.

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>>133976005
You sound young and poor.

I've already made $100 000 buying and selling a few properties over the last 10 years. My latest one was a smart purchase that'll sit on for a while, and ride this bubble out.

I'm looking forward to this second crash so I can buy a nicer place for a reasonable value in a few years. That's what I did back in 2008.

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>>133976655
Mortgages in Canada are all ARMs (Adjustable Rate Mortgages). You have to renew every 5 years on average. So if you have to renew, and you're underwater, you have to put up enough to bring your LTV (Loan to Value) back below 80% or else the bank doesn't renew and you get foreclosed. In fact, banks can foreclose at any time. So if you bought that 16 Thursfield house >>133974438 for $1,551,888 with 20% down ($300K), your mortgage would be $1.25M. Now the house value drops to $1.1M. Your $300K downpayment is gone, and your mortgage has gone from a LTV of 80% to 100%+, since you're underwater by $150,000. The bank would call you one day out of the blue, and say "Hello Anon, we need $370,000 wired from you by Friday morning to bring your mortgage down to $880K so your LTV is back down to 80% or we will list it for sale. This is your only warning. Thank you."

that distant popping sound is canadians with a recent HELOC.

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>>133978444
>I've made $10k/yr selling property

You would have made more at McDonalds.

>>133978545
so why would you buy a house in canada? move

Okay so if I have $150k incoming and ~$200k left on my mortgage, should I try and pay that off completely ASAP?

>>133978762
>so why would you buy a house in canada? move

are you retarded or trying to be clever

>>133977519
Yeah, Americans have it good with their mortgages- 30 year amortizations, interest is deductible and you can refinance when rates are low usually without penalty. Plus if you're underwater you can walk away 99% of the time and start over.

In Canada, mortgages are all ARMs that reset every 5 years normally (so if you're underwater you lose your house and the loss the bank takes selling your house is a Crown debt that follows you for life, so you can't discharge it in bankruptcy even), you can't deduct mortgage interest.

However, capital gains on a primary residence not taxable, which encourages house flipping.

day of the leaf coming soon

>>133978545
Thank you for clarification.
Is it uncommon in Canada to buy houses without mortage? Paying all money at once.

>>133978762
>le just move countries
>it's that easy!

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>>133978715
hahaha jelly.

Except I made the bulk of it in the first few years, and I'm still sitting on the money. And it required zero effort. The market just grew and I earned money on the initial investment.

>>133978899
suicide is the other option i guess?

>>133970866

how will this affect the Chinese? don't they own half this shit now?

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>>133978898
Almost nobody does that except for millionaires. 99% of houses have mortgages.

Canadian salaries are shit. Average Canadian salary is $29K, average home $504K (including apartments/condos/townhouses). Average house is like $900K and that's Canada wide. So 30:1 house price:income, when a normal ratio is 3:1.

In the 90s you can buy a bungalow in the suburbs for $100-150K, and salaries were higher. Blue collar guys made $25+/hr, or $50K/year, so it was 2-3x annual income. Interest rates were way higher, so people would usually put down a large downpayment or buy cheaper places all out.

>pic related

>>133970866
>Housing gets cheaper
>The Chinese Overmind sends more Chinese Zerglings to buy all of Canada
>Canada becomes a Chinese Colony

>>133979273
The Chinese meme. Less than 10% of Canadian RE is foreign buyers.

The Chinese meme hit it's peak when realtors would pay Chinese actors to pretend to be billionaires and fly in several potential buyers on helicopters to look at houses and have a bidding war on the spot. They played newsclips of a video once, fucking insanity.

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>>133970866
Canada will fall. Trump will be the last president. Our world is ending

https://www.youtube.com/watch?v=BUK2Sl2NOtc

>>133979556
So the Canadians thought they were bidding against a Chinese billionaire tycoon.

A con game.

Now buyers, especially in Toronto, are demanding 100k, 300k, 500k+ to close or they walk. They're doing this because typically they will buy a house then list their house for sale after, which means their house sells months after they buy their new house. If they can't sell their house for enough to cover the new mortgage, they are fucked.

So that should give you an idea of how fucked housing is now.

In Pickering, a Toronto suburb, there were 7 sales last week from 250 listings.

>>133970866
Is it finally happening?
Australia/China coming soon.

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>>133979864

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>>133979850
Here's a video of the Chinese Helicopter real estate news clip

https://www.youtube.com/watch?v=8OtluM512Nk

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>>133979864
Australia is even worse than Canada, aren't half of all mortgages interest only?

>>133980033
i made that trudeau meme.

>>133980125
What filter do you use? I see you used it on Poloz as well

I was in the Poloz thread on the 12th

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>>133980224
mosh barrel filter plus a couple others but the barrel gave it the distortion effect. here is the original photo, I think he ended looking better in the meme

>>133970866
It's the day of the rape for you?

>>133980105
>aren't half of all mortgages interest only?
Not the issue here.
CA
http://stats.bis.org/statx/srs/tseries/CRE/Q.CA.H.A.M.770.A?t=f3.1&c=&p=20164&i=6.10
AU
http://stats.bis.org/statx/srs/tseries/CRE/Q.AU.H.A.M.770.A?t=f3.1&c=&p=20164&i=2.10
They just have higher household debt in general.
We have much higher corporate debt and total private debt thought.
Need next 2 quarters or at least 1 quarter data to be sure house prices are actually dropping thought, but I wouldn't be surprised.

>>133970866
This meme makes fonv old world blues even better than it already is.

>>133971249
All the smart boomers in toronto sold their houses to young immigrants, retired and bought cheap property outside the city.

>>133980566
Has almost nothing to do with the fed, just how the financial system in general operates under modern capitalism.

>>133980695
>fallacy detected

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>>133980757
BAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAH

*BREATHS IN*
*FACE HURTS FROM SMILING*

BAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHHAAHHAHAHAHAHAHAH

FUCK OFF KIKE, WE WILL NEVER DROP CRITICISM OF THE BANK.

>>133981035
>fed
>taking Keynes seriously till 2008
Fed doesn't even create most of the "money" at this point, private banks do so while m1 might be money printed by the fed it certainly isn't total money in circulation.
You can't really avoid shit like 2008 unless you severely limit usury.
http://www.levyinstitute.org/pubs/wp74.pdf
Debt was still growing during the period your consider to be great, just not as fast as pre-2008 since Wall St. started doing derivatives and other financial bullshit on a massive scale.
http://stats.bis.org/statx/srs/tseries/CRE/A.US.P.A.M.770.A?t=f2.1&c=&p=2011&i=43.1

>>133976016
Multiculturalism. All the immigrants flock to hongcoover and gay pride toronto.

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Total home sales in Greater Toronto dropped to 5,977 in June, the lowest level since 2010 and down 15.1 percent from the month prior, data from the Canadian Real Estate Association show. Average prices are down 14.2 percent since March -- the fastest 3-month decline in the history of the data back to 1988 -- while the ratio of sales to new listings sits at its lowest level since 2009.

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>>133978545
jesus

my dad's house it paid for and he plans to die in it so I guess we'll be ok here. I don't feel so bad about living at home and paying him rent

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>>133982154
>Average prices are down 14.2 percent since March -- the fastest 3-month decline in the history of the data back to 1988

HAHA

>>133982363
That's just the $920K April to $794K June drop

July is dropping even harder. We'll be in the 600s by September and that's when the banks are going to start foreclosing en masse, flooding the market even further.

Also tell me what fucking filter you used for your Cuckdeau effect you faggot

>>133980695
they shouldve been selling them to native canadians you fucking idiot

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>>133982822
See
>>133980425

i can only remember that i used barrel effect and did some cropping. there was other filters but i can't remember

>>133977519
>Plus all my tax breaks
American tax system, leafs get no breaks besides a 5000$ tax write off that amounts to 15% of 5000 when you buy a house.

>>133970866
>A 917k house in march is now worth 740k - if you're lucky

so a fucking 400k house finally goes down the real value

>>133983431
The issue is that it will cause a crash in asset prices and aggregate demand over the whole economy.
Canada is not that bad for the world but once it happens in China it'll be worse than 2008.

>>133978444
Is this before or after taxes?

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BONED: BOOMERS BELEAGUERED BY BANKRUPTCY

By Don Pittis

>tfw

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>>133983165
fuck, the filters are important. write a tutorial

do this one

I find the height of the picture and his shit eating grin enrages people hte most lol

>>133983951
that happens when you build a fucking bubble, not the first one either, your fucking neighbors did the same in 2008.

Shit and its not only canada, housing prices here are also inflated like crazy, we are like 10€/m2 for shity property for renting, and much higher for actually buying, while having a shitload of empty houses/flats, whatever.
All because those idiots hope to get their price, promised by the bankers who sold them the flats/houses as investment objects.

Now instead of gaining money it costs them a shit ton.

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>>133984298
>Don Pittis
CBC's shitposter in chief, triggers housecucks like no tomorrow

>>133982154
holy shit

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>average salary is $29k
>houses cost 1.5 million

How do you even make a mortgage payment? That's like $7000 a month.

>>133985091
"Muh-freemarkets"

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>>133984667

>>133985091
You don't.
Most young people don't own their houses and usually rent apartments/live with parents.

>>133985091
Most of these people bought in at the beginning of the bubble so they rode it via increasing home equity on paper

They'd then tap that home equity and use it to buy "investment properties" and leverage themselves even more

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>>133985170
>>133985572
>>133985581

>bottom 90% of people are completely locked out of the housing market

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>>133985842
It's completely natural goy

>>133985564
original one is better, the smile is key to rage induction

do the barrel effect like your original

>>133985860
topkek

make the pic tall like the original, makes him look like a manlet

can you keep his grin?

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>>133986181
>the smile is key to rage induction

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>>133985842
pretty much, that's why 20-35s are renters or NEETs, no point in working a 9-5 to be a turbohousecuck

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>>133986107

Are we seeing a sort of neo-feudalism rising here? Basically all the land is in the hands of a few families and everyone else is landless and has to pay high rents.

>>133986711
yes! now make it the original size or even taller kek

>>133970866
Fuck Canada, your fires are smoking up my mountains.

>>133986785
Once the crash accelerates most house cucks will end up homeless and a flood of rental housing (shit that can't sell) will come online, depressing rents big time

>>133978834

Well you have two options.

You stay home and gargle jewish banker cock

or

You leave the distressing conditions and settle somewhere that doesn't try to fuck you in the ass

Aren't you tired of paying for the ponzi schemes of other people? You have other options than standing on the railroad tracks and preemptively opening your ass.

>>133971249
boomers are in their 65s + and probably have more than one houses just in florida. they'll be fine.

the chinks are probably freaking out

>>133986785
In a way.
When capital returns are ~5% and avg income/GDP growth is around 2% wealth tends to concentrate, even more so with usury.
The housing/asset bubble doesn't really have much to do with that thought.

>>133970866
>Canada our greatest Ally, litterally selling it's organs to the chink


Mexico is better

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>>133986832

Earlier this year, Greater Toronto was seeing record house price growth and sales. Now, in the wake of new provincial rules meant to improve home affordability, real estate investors appear to be bailing on the market — and taking their money with them.

Data from the Canadian Real Estate Association (CREA), released Monday, showed the amount of money that exchanged hands in Toronto's housing market dropped by 33.7 per cent compared to the same month a year earlier.
-Advertisement-

In June of 2016, there were $9.55 billion-worth of transactions in Toronto's market; by June of 2017, that had dropped to $6.33 billion.

Sales fell by an even larger 37.7 per cent, helping to push down nationwide sales by 6.7 per cent in June, CREA said. It was the largest drop Canada's housing market has seen in seven years.

>http://www.huffingtonpost.ca/2017/07/17/canadian-home-sales-drop-by-the-most-in-7-years_a_23033866/?utm_campaign=canada_newsletter


$3.2 billion less money in a month... ought to be great for the economy and money velocity

>>133970866
It's going to drop over 50%. This is just the beginning.

>>133988024
Archive the shills https://archive.is/OTK97

>>133987993
lol do the full length! and include his shoes

>>133987721
No it isn't Juan, both are shit.

>>133988109
It's too late. I'll have to try again another day

>>133987993
AYY LEAF
Y
Y

L
E
A
F

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>MFW we get Canadian Refugees
>MFW they are all Chinese

This is just perfect
>Be studying software engineer
>Be living in parents basement saving money to buy a cheapass house in a couple years

>>133978444
>measuring non-OPM profit in absolute numbers and not ROE

pleb detected

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>>133988295
BOGGED

>>133988428

Please for the love of jesus let this affect the American market too.

I'm doing the same thing.

>>133984298
Speaking of which...

http://www.cbc.ca/news/business/canadian-real-estate-impact-1.4203087

>Sniffing out the truth about the end of the Canadian real estate boom: Don Pittis

>There is so much at stake, and it is harder than ever to know who to believe

Comments are gold, triggered housecucks

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>>133989408
>FUNG CHANG
How utterly ridiculous!!! Is it just me or are there not 6 million people scattered across the GTA? According to 2015 statistics, the record breaking year saw just over 90,000 homes sold in the GTA. Add to that 80,000 people move into the area on an annual basis. Approximately 20,000 condo units were built in the GTA in 2014. (Toronto Star) I want a story based on facts, not mere 'Pie In The Sky' speculation. People want to live in Toronto, if in fact there is a decline in homes sales, it's due to one circumstantial factor.
PROVINCIAL MANIPULATION OF R.E. REGULATION.

It's NOT OVER!!! The bubble has NOT BURST, and the sales of homes will continue to intensify year over year due to increasing demand. That simple. This drop is short term due to one glaringly obvious reality....HOME BUYERS ARE WAITING. I agree to one thing though, 30% increases of homes is not normal. But what is? 15%? 20%?25%?

Pick a number, your guess is as good as mine.

http://toronto.ctvnews.ca/record-number-of-homes-sold-in-toronto-in-2015-with-one-month-to-go-1.2686952

https://www.cmhc-schl.gc.ca/odpub/esub/64319/64319_2016_B01.pdf« less

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>>133990350
KEK

>>133970866
in cottage country, they have buses filled to the brim with chinks driving around from town to town taking pictures of all the houses and areas.

They are not taking them for their family photo albums that's for sure. When the bubble bursts they are going to acquire even more of Canadian real estate.

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>>133991117
>housecuck: the post.

>>133991117
The Chinese have a marginal effect on the housing market, it's a debt bubble.

>>133981035 >>133981671
In general I blame current for the current clusterfuck corporationism, bail-outs, debt driven economy and banks.
Is this the beginning of the next crysis?

>>133992191
>Is this the beginning of the next crysis?
Yeah, could be anywhere between 0 to 4 years before it happens thought.>>133983951

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>>133975132
15-2 mil for a henshouse.
People are shitheads.

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>>133992366
Let's just hope Pooland will be too stupid to crisis properly again.

>>133991945
2 million immigrants arriving each year don't help things

Fucking boomer animals see no issue with whites being ethnically cleansed because it keeps their housing value high

>>133988374
if they are rich qts its all good

>>133992854
You're fine on an individual level, don't know what'll happen once France/Denmark/Sweden pop thought.
>>133992867
>2 million immigrants arriving each year don't help things
Immigration is not the cause of the bubble is what I'm saying, it's a systematic issue and has almost nothing to do with the specific circumstances of the country.
China, Belgium, Sweden, Australia, Denmark, etc. are also facing the same issues.

>>133993271
Immigration is the problem though
There are other parts of it, but in Canada we have endless amounts of land around major cities, there are still wide open areas of undeveloped land in the GTA.

Without the flood of retards coming into the country & buying houses, prices would be far lower.

>>133990350
>But what is? 15%? 20%?25%?
Average year over year price increase for housing is 4%.

So if I'm a poorfag and the market crashes to all hell will I be able to buy a house?

>>133993583
>Without the flood of retards coming into the country & buying houses, prices would be far lower.
Not by much.
It's a bubble driven mostly by debt and the way the financial/monetary system operates.>>133981671
http://www.levyinstitute.org/pubs/wp74.pdf

>>133993758
It's not going to go THAT low

>>133993758
No because the banks won't be lending money.

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>>133993868
Thought as much.

>>133970866
we really are fucked

>>133993868
>>133994166
although prices are dropping, the dramatic numbers we hear are mostly house sales not house prices falling.

>>133993868
see
>>133994147

Also mega bubbles tend to blow way the fuck below the mean, mean reversion on steroids.

GTA is 700K right now, down from 920K in just 90 days. This is during peak annual demand. I would not be surprised if we're below 600 by Sept and then sub 500 by January as foreclosures accelerate

Foreclosures are already up 1000% from Jan. in Jan there were 200-300 powers of sale, for July it's estimated there are 2000-2500

>>133994166
Asset prices in general are going to fall so you can always just index funds.
https://www.google.com/finance?q=TSE%3AXIC for example.

>>133994683
Thats just people waiting a month to sell their homes when the market changes a bit

Things have to get way worse to claim its really a housing crash

>still don't have enough to move out for another two years

JDISMA

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SHE'S A BREWIN'

>>133994942
>Things have to get way worse to claim its really a housing crash

BY THE TIME NO ONE DOUBTS IT YOU'LL BE ON HERE SAYING YOU SAW IT COMING.

>GTA is 700K right now, down from 920K in just 90 days

>>133977647

https://www.youtube.com/watch?v=0BoO3_5tU8A&ab_channel=thegunshow01

>>133970866
>per cent
>per
>cent

>>133994942
Buyers are demanding $200-400K+ from sellers or they're walking, and many are just walking away because most in the GTA when moving houses will buy the new house and then sell the old one after since they don't want to be homeless in between. But now they're shitting themselves because if they buy now, and prices are dropping rapidly, they will get raped when they sell and might not even be able to afford the new house etc.

It's THAT bad

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https://www.youtube.com/watch?v=uAsV5-Hv-7U

>>133972296
good riddance

>>133976465
>Playing the market makes the market more efficient and this is better for everyone.

Speculation increases the costs of goods that people need to live. A speculator is acting like a parasite that sucks blood out of everyone you has need of a product. It's pure parasitism.

>>133970866
>tfw not a mortgage cuck and doesn't own real estate
>tfw watching normie retards burn

good times

>>133970866
boomers own.. they dont give a fuck.
as an investment they are still amazing as rentals.
and with a fat pension and doing fuck all you dont care about sitting on it. land is always valuable.

Is there a chance interest rates will go down? I am sick paying 4% interest on my mortgage it has to go under 3 eventually right?

>>133996508
> land is always valuable

tell that to the 90% of canada that is a frozen wasteland

the real winners of a housing collapse are the rich who can afford to buy outright and sit on it.

you neets dont benefit at all

>>133996299
A speculator in most efficient markets provides a valuable market function: liquidity. This also helps lower transaction costs. It also helps keep the market in line, as if a market bubble develops speculators will tend to come in and short the fuck out of it.

This is in a market where you can short the commodity. RE is not one of those markets, not in Canada. In the states, you can short housing via Credit Default Swaps, shorting MBS', etc. Hence why the US bubble corrected when it did and Canada's kept inflating.

>>133996664
california housing market only took 4 years to return to normal after a 80% drop

>>133970866
A massive crisis is the best thing that can happen yo Cucknada

>>133976465
>Once again, central banking rears its ugly head.
The fuck are you going to replace it with? Commodity money?
The issue is debt money along with usury which you can't really fix without essentially destroying capitalism, not central banking in general.

>>133996604
>>133996604
>variable interest

you got jewed

>>133996299
Thats not true
A speculator is just properly adjusting the price of the product, while making a profit.

The problem is all the other shit going on, restricted supply of housing for various reasons, mass immigration, debt being far too easy to get, people being fucking stupid, all the boomers who bought their house at 50k, and have never had to actually pay for the huge mortgages going around, etc.

The real parasite are real estate agents.

>>133996508
>as an investment they are still amazing as rentals.

As far as I understand thats not particularly true, there are better places to make profits. Rental prices are another thing that are just plain absurd though.

>>133996809
???
Whats wrong with a commodity backed currency?

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>>133976465

>They're just taking advantage of the market exactly the way you would and should. Playing the market makes the market more efficient and this is better for everyone

If buyer after buyer wants a profit, the house has to be sold for a higher price each time. Eventually, the market won't pay the price, and collapses. Which is what OP is illustrating.

>What you CAN blame the boomers for is the credit expansion that caused this bubble in the first place

You're using buzzwords. Every selfish buyer wanted a profit, and no one buying and selling prices cared if poor people could afford a house. In other words, the Boomers put their profit before the basic living standards of other people.

>The boomers put in place (or at least failed to dismantle) the monetary policy that allows way too many cheap mortgages. When you have an unnaturally high supply of loans, you can demand more for every house

The more expensive the loan, the fewer a bank can give out. As houses get more expensive, banks get more selective. Eventually, banks stop giving out loans, and forclose on houses that they now expect a higher profit on - you are aware that the bank wants a profit from your house too, right?

>Once again, central banking rears its ugly head

Yes, because without central banking you can't manipulate the inflation rate to steal poor peoples' money.

>If our generation fails to dismantle the central banks, our children will shit on us they way we're shitting on the boomers

The Boomers had lifelong jobs with pensions, and the ones who took over the companies decided that later generations didn't need a living wage or a house, and so moved the economy over to contract labor so they got to keep all the profit.

Either our generation bans usury - also called interest - or there won't be an economy to fight over on 4chan.

>>133974762
Notice that the first post was sold in April, the second was sold in July.

He is showing similar homes in a similar area, the second home presumably lost out $400k because the owner sold 3 months later.

>>133998417
what you're arguing against is the very concept of capitalism and markets.

fuck off you commie.

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>>133998218
Deflation, increased difficulty to pay off debt, further concentration of wealth, private/potentially foreign control or influence on your monetary system, etc.
>pic for a short explanation of muh moneys

>>133996809
>>133998218
why can't we back currency with labor?
all labor requiring less than 8 hours of training becomes officially considered unskilled labor, and becomes worth a flat $10/hr (or w/e pick a number, it's arbitrary).
then just allow the market to adjust other prices accordingly.
how would that be any different than backing currency with gold?

>>133998488
The houses are literally on the same street a few houses down, the same house type. In the second one the 2nd house's lot is actually nearly 50% bigger (45x113 ft vs 30x120 ft) yet -700K... going on a per square foot metric the first house is now worth $1M less or 50% less in just 90 days.

It's a crash of historic proportions.

>>133997302
>variable interest
No mine is fixed at 4%. I would never get non fixed thats retarded. I am asking if it will go down under 3 anytime soon so I can refinance.

>>133998648
Don't necessarily agree with the details but yes something like that where new money is introduced into the economy through the working/middle class and does not generate debt when created is preferable.
>>133998877
Depends what the govt. response will be, but you're in the US anyways so this should not affect you in a major way, the Chinese situation might thought.

>>133970866
>, people are holding off on buying knowing that they'll get a cheaper house in the future.
When a fucking trailer home is going for a million, ppl aren't going to be fucking dumb and buy it. This is common sense, not news. Chinks inflated the prices. They have to come down, naturally.

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>>133998537

Actually, that was Hitler's thing. Anyone that would profit on his countrymen is a sociopath by deffinition.

>>133972778
>This will drive down rent
rent might go up because buying looks less attractive

>hopefully shake the confidence of the chinese
chinks will just keep chinking. this is a big hit to them, but their main objective is to get their ill gotten slave money out of china before the yuan crashes.

all the millennials in this thread rejoicing at doomed boomers while yelling up from the basement "MMOOOO-OOOOM WE'RE OUT OF TENDIES YOU FUCKIN' BITCH!!!!!!'

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>>133976465 >>133996809
How good (or bad) of an idea is a national central bank?

>>133999076
>implying the Jews will give away their usury cash cow and elites will follow suite
Not gonna happen, unless...

>>133973492
you're a little late there, but. it already happened in 2008.

>>133999076
>Don't necessarily agree with the details
what would you have in mind?

>>133972296
it wasn't the chinks?

>>133974646
>t. real estate agent.
this is the last gasp. just sit in your leased A7 in the garage with the engine running and wait. it's over.

>>134000098
It's a good idea in theory, would be hard to implement thought>>134000167
>>134000405
Wouldn't necessarily have a way to control money supply or decide when to create new money/when to use existing money in your example.
Something simple like introducing new money directly via govt spending in infrastructure, etc. as long as it does not generate debt and is govt. controlled it will be better than what we have now.
The US mint creates debt free money I suppose, just give them the power to create paper/digital money.
The other problem is that private banks would still have the power to create money and inflate the money supply via fractional reserve, so something would have to be done about that. http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

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>>134000890
what area do you sell in?

also check
>>133974934
March 22nd, $1.95M, 30x120 ft = 3600 sq ft, $542/sq ft

>>133975132
July 4th
$1.265M
45x113ft= 5085 sq ft
$249/sq ft

-54% in 103 days

>-54% in 103 days

-54% in 103 days

>-54% in 103 days

-54% in 103 days

>-54% in 103 days

-54% in 103 days

>-54% in 103 days

>>133970866
LEAFS BTFO

>>134001341
http://monetary.org/wp-content/uploads/2011/09/32-page-brochure.pdf
I guess.

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>>134001705


This thing >>133974934 would now be worth $896400 at $249/sq ft, -$1,053,600 in 103 days

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>>133976040
>yfw ethereum is on track to double digit values
>yfw most of /biz/ bought above $200
>yfw there is no way any of the miners will recoup the thousands each of them spent of GPUs
/biz/ is almost as bad as /tv/ when it comes to knowledge about their board's subject matter.

>>133972778
>They'll be less likely to put it into a house if they think they'll lose another 40 percent of their dirty money.
Considering the general loss of laundering money with relatively quick turnaround, 60% isn't that bad of a return.
The market must plunge further.

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>>134002183
U M A D E L I C I A
M
A

D
E
L
I
C
I
A

What's the purpose of paying rent when you could be making a payment?

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>>134002183
>"business" board
>90% of posts are about speculating on cryptos

>>134001341
>hard to implement
So basically there needs to be a revolution to make a change? Jesus, we need to go back to monarchy and nobility, at least reforms didn't require major undertaking. I have to remember to oppose privatisation of polish central bank with all my might (if that'll ever happen).
>The other problem is that private banks
What is the reason even that we have private banks, why not just a national bank to store people's savings and give loans? Or "negative money" that allows to make more money, but you have to pay it back after some (hopefully short) time. Right now it's endless magical moneymaking...

>>134002877
>What is the reason even that we have private banks, why not just a national bank to store people's savings and give loans?
Well I personally wouldn't go that far because
>muh private property
and as long as banks can't create money and have some limits on usury it "should" be fine.>>134002097 (I don't think it covers the money creation process completely thought)

>>134002494
Renting removes many risks of home ownership.

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>>134002580
>mfw /biz/ advocates storing double digit percentages of your income in cryptos

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>>134003425
ITS A REAL INVESTMENT YOU NON BELIEVER REEE

>>134002494
Not having to have a mortgage? Using the balance that you would be paying to a bank to invest in the stock market or other actual Investments?

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>>133977647
This was great pasta.

>>134003393
It just seems like a waste of money, like a guaranteed loss of 10k-20k every year vs at the least a chance to hang on to some of your money.

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>>133970866
This could be Canada's 2008.
See you faggots on the other side!

>>133978444
>I've already made $100 000 buying and selling a few properties over the last 10 years
LMAO
Also, he meant a personal property is not an investment really, only with inheritance does it's true value come out.

>>133974934
Literally a nigger house. What the fuck. I know location is key but fucking hell where I live that's like a $50k house.

>>134004306
I know what you're saying.
There's also a chance your neighbourhood goes to shit, decays due to crime or other factors out of your control (political), and you can't unload the property by selling it without taking a staggering loss.
Sometimes people move to a place and don't want to commit to buying just yet.
Anyway, suffice to say, people rent for a reason even if they never see that money again.

>>133977647
>Justin from Canada is a former boxer
He quit after he got tapped on the chin, that one time? Shame. I would have paid money to see him get knocked out more.

>>133976488
It's time for this sjw shithole to collapse.

>>134002580
>"political " board
>90% of posts are about traps and getting blacked.

>>134004306
For the first few years of your mortgage you will mostly be paying the interest anyways. http://www.investopedia.com/terms/a/amortization_schedule.asp
Buying is a good idea if house prices always rise, but they don't.
Renting is often cheaper, you get to (mostly) avoid property taxes, maintenance costs and the down payment among other things. The money that you "invest" in the house could have been better invested elsewhere in that case.
There is also the flexibility of being able to move easier and not having a huge liability if something does happen.
I'm not an expert on housing markets, but there are advantages to renting.
>>134005493
>anime website
>90% of posts aren't about anime

>>134005643
Renting is generally NOT cheaper because they expect your rent payments to cover their mortgage payments

ummmm no sugarplum.... not many houses were sold last month because of the bad weather caused by climate change thanks to right wing retards shitting up the planet ;^) thanks drumpfley!

>>134005858
Renting is cheaper if rent<(interest+property taxes+maintenance (1%/year)+property insurance+(25 year put option to eliminate directional exposure to housing prices+mortgage insurance)/12/25)

>>134005858
Maybe it's specific to my area but buying would have been more expensive here. >>134006404 plus that.
As I said don't really know the specifics of the housing market, just econ in general.

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>>133970866
Dont worry about the Leafs, when their houses lose value, they win

>>134001705
i'm not a real estate agent. i was trying to tell you to kill yourself, assuming that you are a real estate agent (as a joke).

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>>133970866
I mailed Colbert a postcard of pic with "TWO SCOOPS" in elvish script.

I'm going on a road trip and I'll be mailing them to him over time, to give the impression of it being a bunch of people.

TWO SCOOPS

>>134006404
For a $500K shed in Toronto with 10% down, $450K mortgage at 3.04%

Monthly payment: $2,138.85
Interest: $1118.82
Property Taxes: $500/month
Maintenance: $400/month
Property Insurance: $500/month (insurance is always way higher for an investment property)
Loss of $50K Downpayment monthly return @ 3% compounded/12/25: $348.96/month

Option Price: ~$10,000 with 2% IV with 9125 days to expiry
CMHC Insurance:$13,950.00
23950/12/25=$79.83

TOTAL: 2518.82+348.96+79.83=2947.61

So your total carrying costs would be $2,947.61. If you can rent cheaper than this it would make no economic sense to buy. If the rent for the place was $5000 a month then by buying you'd be netting $5000-2947.61=$2052.39/month in home equity.

>>133970866

kernel glooph.

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>>133979399

>Chinese Overmind

>>133970866
You capitalist nazis laugh and talk shit now. Once this happens we will make sure that everyone understands that under Communism this would NEVER happen. Even the media will be forced to agree with us that the old systems are dead and it is time for a new one.

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>>133977647

Fuck off, Leaf.

>>133976629

>sitting on daddy's deck

fuck sake leaf

>>134000098
So long as it's not privatized it seems to be okay.

As soon as you privatize it, the bank is used to profit the owners at the expense of the country.

>>134002183
>>134002580
/biz/ is hilariously bad at investing.

I got better investing advice from fucking eve online forum threads.

>"Don't invest more than ~2-5% of your cash into any single stock, don't rely only on stocks, make sure you diversify, diversify, diversify".
I did what effectively amounts to daytrading in eve and made an easy 50 billion in a couple months. Reached a point where daytrading just wasn't worth doing anymore and the real money was in long-term investments, but I realized I won the game and quit by that point.

>>134005493
It amazes me how many idiots can't tell the obvious shill/bait/troll posts from actual content.

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>The amount of meme flags in this thread
Fucking leafs

>OH NO HOUSING BUBLE WHO COULD HAVE PREDICTED IT

HOME OWNERSHIP A THING OF THE PAST

Privately owned housing would become a thing of the past. The cost of housing and financing housing would gradually be made so high that most people couldn't afford it. People who already owned their houses would be allowed to keep them but as years go by it would be more and more difficult for young people to buy a house. Young people would more and more become renters, particularly in apartments or condominiums. More and more unsold houses would stand vacant. People just couldn't buy them. But the cost of housing would not come down. You'd right away think, well the vacant house, the price would come down, the people would buy it. But there was some statement to the effect that the price would be held high even though there were many available so that free market places would not operate. People would not be able to buy these and gradually more and more of the population would be forced into small apartments. Small apartments which would not accommodate very many children. Then as the number of real home-owners diminished they would become a minority. There would be no sympathy for them from the majority who dwelled in the apartments and then these homes could be taken by increased taxes or other regulations that would be detrimental to home ownership and would be acceptable to the majority. Ultimately, people would be assigned where they would live and it would be common to have non-family members living with you. This by way of your not knowing just how far you could trust anybody. This would all be under the control of a central housing authority. Have this in mind in 1990 when they ask, "How many bedrooms in your house? How many bathrooms in your house? Do you have a finished game room?." This information is personal and is of no national interest to government under our existing Constitution. But you'll be asked those questions and decide how you want to respond to them.

>>133996604
lol just got approved at 2.59 fgt

>>133971249
>>133972296
>>133970866
Canadian neoliberal boomers are suffering? Ahhh music to my ears

Fuck boomers

>>133977647
t. Justin Fidel Trudeau

>>134000098
any sort of central bank is a net negative on the economy. A nationalized central bank means the government decides monetary policy, and government is notoriously bad at making economic decisions.

>>134012601
Privatized banks are also notoriously bad at making economic decisions.

We shouldn't be able to have such enormous economic impact from idiots controlling the central bank.

>>134012710
>Privatized banks are also notoriously bad at making economic decisions.
that is correct. that is why you need multiple banks to compete with one another, where only the best will survive. any sort of central bank means you have a monopoly, which of course only leads to the customer suffering. The free market is the built-in idiot-removal mechanism of society.

I hope some boomer liberal who is now underwater short sells and then kills himself

>>133978545
and why is the 300k downpayment gone in your ltv analysis when house $ drops ?

>>133978898
from chinese yes.
think some1 earning 50k a year can pay 1.5 millions one shot ? Thats more then he will make in a lifetime (counting taxes 50% minimum).

>>133970866
buy BITCOIN, you filthy hillbillies

>>134013548
It's frontloaded into the drop in equity

eg the bank fucks you first to protect the loan they've given you (you lose all your equity before they lose any of their debt security), akin to a first tier bondholder getting dibs before a stockholder

>>133978545

>only 5 year ARMs

Holy shit, that's straight up evil

>>134013548
because the mortgage is paid off first if the house is sold... your equity / downpayment gets eaten up first on any home value loss. it's insurance for the bank essentially

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>>133978838
>>133978545
how the fuck is that shit legal?

>>133978545
>this is going to happen to boomercucks in toronto
Pure glee

>>134014315
>>133978545

Good (((question))), goyim; all of the social "issues" are just a distraction from the globalist financial machine which is exploiting the people of Canada for profit.

>>133980566
No one that matters will blame Trump, just like no one really blames Bush or Obama for the 2007 crash. If anything, knowledgeable people understand Bill Clinton is to blame.

>>133978545
I would be sympathetic if candadians were not such rampant faggots.

They need to suffer until they regain a survival instinct. Faggotry only makes you more of a target. There is no appeasing kikes.

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>>133976961
more like pushed into the corner and anally raped. pic related Vancouver housing.

There is nothing clever about most white collar crime. Just daylight robbery.

My only regret in life is that I didn't realise I could have joined the most evil gang in the world. I could have had all the shekels.

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>>134014315
>>134014358
>>134014460
The best part is if you don't wire them the $370K, they go ahead and do a firesale and sell it for say $900K (a foreclosed house is a liability on a bank's balance sheet and a general nightmare, since it's empty the risk of it being looted/burned down/squatted is through the roof so they try to sell them off ASAP at any price). Say they sell the house for $900K despite a value of $1.1M. You owe them $1.25M, so even after the $900K you owe the bank $350K.

The bank doesn't give a shit. It simply files a claim with the CMHC mortgage insurer, and the CMHC wires the bank back $350K and the bank is made whole.

Now the CMHC is a Crown corporation and will come after you for life for that $350K. They can garnish your wages, seize any assets you or your spouse own until the delinquency is extinguished. Crown debt is not dischargeable in bankruptcy, so it follows you until the day you die. CMHC will seize your tax returns as well.

So, you walk in $300K cash in hand to buy a house and you end up losing all of it, and end up being homeless and in debt $350K, having everything you own seized and auctioned at firesale prices (save for furniture worth less than $6000, clothes, etc), your wages garnished, 0 credit until the $350K is paid off + 10 years (so until death), your tax returns seized, etc.

>>133974438
>>133974646

>imagine paying this much money to live in a shitbox surrounded traffic, smelly food, and rich chinks pakies, poos, and every other flavour of shit then have a daily gay pride sodomy parade by your house

urbanites are completely insane

>>134014315
>>134014358
>>134014460
Also the CMHC if it finds out you have assets abroad can Mareva and seize them. So if you move abroad and start over, they can still come after you in another jurisdiction

I wonder if Canada crashing could spread to Australia? (Banana republic iron ore & housing based economy).
Young people here have lost hope, many are even dropping out, refusing to contribute untill after a crash.

>>134015371
>>134015731
oh man the candian dollar is going to be monopoly money if this keeps getting worse

>>133985091
we don't

we just sit in our parents house doing drugs watching kikes and boomers sell us down the river

just fucking burn it all down

>>134015371
Holy shit.
I bet any boomers that have fucked themselves this hard just call it a day and sit out the rest of their life on the dole or old age pension.

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>>133972743
>NA house

>>134016971
Suicides go through the roof...

>>134015731
>Be Canadian
>Become naturalized citizen of another nation
>Canada Inc tries to collect debt from you anyways

I'm legit blown the fuck away, how do they even? What if the government of the other nation tells Canada their not going to enforce the debt collection?

I'm starting to feel sorry for you guys and gals, you poor bastards are living in a prison you can't run away from. Fucking hell....

What happens if you rent from a landlord?

>>134017556
What is a Mareva Injunction
>http://www.mccarthy.ca/article_detail.aspx?id=4915

>>134016851
Australian youth is the same. Lift, surf, get tanned, fuck surf chicks with bronzed tits, swim laps and viset centerlink.
(Maybe the odd bit of cash in hand work).
The 1.2 million dollar prices have pushed them to the sidelines and they've stopped caring.
>Gonna be poor and never own a home anyway.
>Make dole-bludging an artform & lifestyle.

>>134011660
What is this from?

>>134017977
>>134016851
What's the fucking point of doing anything else?

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>>134003758
>/biz/ hates fiat currencies because they're based on the backing of an organization but advocates for cryptos
>A currency which is valued purely through faith

>>134017540
Do you think you'd get rid of them that easily?

>>134017977
same in the US for most kids with shitty degrees or no post-secondary. just fuck around, drink, smoke weed, do restaurant work for weed money, maybe live with your parents or in a house with 15 other morons.

if you actually want to try hard, get a house, do the family thing, etc. good fucking luck. An entry level, 1500sq ft house an hour from my job costs $800,000. In our major cities, things have been priced to radiologist/investment banker levels in the places where people need to live to have a decent job.

>>134018457
Get centerlink and sell 8 grams of pot per week. You need 3 or 4 stoner 'friends' to do this. Centerlink + $200 per week = $550 AUD per week. No job required, surf and play vidya all day.

>>134019322
Six years ago I would hang shit on people 'dropping out'; now I congratulate them. Bankers & boomers are fucking the youth over, good on them for not playing a rigged game.

>>133970866

A lot of the "boomers" sold to the Chinese.

Thanks for the money though China (which came from the USA).

>>133970866
>The prices keep dropping, people are holding off on buying knowing that they'll get a cheaper house in the future.
oh wait whats thats?

its its just the 500 000 new chinese that the canadian government lets in every year, many of whom are chinese millionaires..

yes, the price of housing is sure to drop!

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Oooh do Denver next!

Boomers voted for Trudeau, I hope he throws them out of their houses personally and shoves a bunch of shitskins in them. you

>>133970866
Same thing in Norway. There hasn't been as many unsold houses on the market since 2008-2009.

Prices are dropping and nobody's buying. A bunch of cucks bought houses before selling their other one, and can't sell now.

This is exactly how it played out in the beginning of the 2008 crisis.

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>>133979301
>Average Canadian salary is $29K
>mfw I work low level IT and make more than the average Canadian.
>mfw I'm 20% below the US national average

>>133970866
So did the gooks stop buying or is this only going to make the gooker western land acquisition problem worse?