CANADA YES! Toronto Housing July Mid-Month Numbers show accelerating

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>housing might become affordable
oy vey this is terrible

I rent in Toronto and I hope it all comes crashing down so i can finally afford a house. The only other solution would be to move to Kitchener or Guelph

>Housing becomes unaffordable.
>People stop buying housing.

Can they not just lower the price?

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>>134453128
>Summary

CMHC = Fannie/Freddie Mac

Canadian housing has nearly tripled in 10 years.
A single detached house has gone from about $200K CAD to over $800K CAD.

CMHC has $20B in assets and $946B in liabilities
>50:1 leverage

Banks have lent out a trillion dollars in mortgages for hyperinflated crackshacks while removing any risk of default for them by offloading them to the CMHC (mortgage insurer). At one point, the CMHC allowed 40 year mortgages (in 2008 60% of all new mortgages were 40 year terms), with 0% down (cashback mortgages were a thing with 7-10% cashback), and no maximum loan value. In 2008, over 90% of mortgages were insured by the CMHC (read:

>the entire Canadian housing market is subprime

CDIC = FDIC

Insures up to $100K.

CDIC has $3.4B in assets
CDIC has $679B in liabilities
>200:1 leverage

Both CMHC and CDIC are backstopped by the government.

A 20+% correction would wipe out the CMHC and at least one major Canadian bank as they have uninsured mortgages (already happening with Home Capital, the Canadian CountryWide). A bank being wiped out would wipe out the CDIC.

The CDIC and CMHC being wiped out would require the Canadian government to issue hundreds of billions of loonies in new debt, sending the loonie to sub-50 cents, possibly to 20-30 cents or even hyperinflating.

>The Day of the Rake is nigh

>>134453128
I was in a discussion about 2 months ago with a leaf who assured me nothing was going to happen.

HAHAHAHAHAHAHAHAHAHAHA

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>>134453128
>What's happening now?
The CMHC has been reigned in to a max loan value of $1M, max amortizations of 25 years (from a high of 40), 5% downpayment on the first $500K, 10% on the next $500K (7.5% on $1M).

People have been using "alternative lenders" who loan $2-3M on self-declared income or with fake documents. Now these lenders are blowing up and not making new mortgages, hence prices have stagnated or dropped (as in Van, already down 15% this year).

Once a massive across the board drop occurs, lots of people who are leveraged to the tits with negative/0/5% downpayment 30/35/40 year mortgages will be underwater (they will owe more than they can sell their house for).

>Canadian mortgages are all Adjustable Rate Mortgages (ARMs) that reset every 5 years

When renewal comes up, which is soon for a lot of 2010-2012 mortgages on 40 year terms with negative/0/5% downpayments, they will be forced to come up with hundreds of thousands of cash to bring their mortgage Loan-to-Value back down to 80-95%. 99% of people won't be able to come up with the money, so the bank will write off the mortgage with the CMHC mortgage insurer, who will pay the bank the loan back then take possession of the house and do a fire sale, and then go after the homecuck for the balance which will be hundreds of thousands for life. Bankruptcy can't discharge CMHC debt since it is Crown debt.

In fact, banks can call in mortgages at any time for any reason (lol). So if they see prices dropping, they will pre-emptively call in mortgages and write them off to stay afloat. Once this occurs, it's a race to the bottom as banks are forced to call in more and more mortgages to stay afloat (in order to maintain their Tier 1 capital ratios with marked market values of the houses on their books)

>A significant price drop will put millions of homecucks underwater
>Banks call in mortgages
>Homecucks can't come up with margin
>CMHC bails out banks and dumps toxic houses on market collapsing prices

Is this going to affect my Canadian Weedstocks?

Very cool thread Op thanks for the effort typing all this out, do you work in real state?

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>>134454036
>Bankruptcy can't discharge CMHC debt since it is Crown debt.
lel

>>134454144
I was thinking about investing in the Horizon weed ETF.

What do you think. Will leafs turn to weed to escape their misery?

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>>134454144
>>134454322
>AYY WEED MAN LMAO
weedman won't legalize it

I don't own a house, I'm a student, 0 debt, and about 20g saved not including assets. Should I be investing to take advantage of his?

>>134454199
I run a hedge fund, just short everything Canadian

>>134454322
They already are. Aphria is already reporting revenues way above projections.

But screw ETFs. Why pay some guy in a office 5% to do something you can do yourself?

Just buy Canopy Growth. Or Emblem corp, their CEO is top-tier. Or if you're interested in Pharma, invest in Nemus Corp. They have a solid pre-clinical pipeline to treat glaucoma, blindness, chemo pain, and MRSA infections using synthetic cannabinoids, which will make billions thanks to sick baby boomers who are taking too many dangerous pills and opioids. People are saying weedstocks are recession-proof as well because they are vice stocks, similar to alcohol and tobacco. There's lots of money to be made off leafs

>>134454726
wait for the shitshow to reach calamity status. Stay in cash or silver. Physical on hand and a couple of guns. get in when the bottom hits (30-50% correction)

>>134454726
Hold USD/Swiss Francs/Yen/Gold

Every asset class is massively overvalued.

THis could be because of the foreign buyer's tax they just implemented.

Vancouver did it in April and they experienced a similar drop in prices for a few months and now they're back to setting all time highs for housing prices.


This dip could be for a similar reason in Toronto.

I would buy in the next month before things start to pick up again (assuming this is indeed due to the foreign buyer's tax).

>>134454839
Makes more sense. They will turn to weed when they are foreclosed on and forced into subsidized housing with nothing but mudslime neighbors.


HAHAHAHAHAHAHA

>>134455119
So should I wait to get francs or usd, or do it when shit starts hitting the fan?

>>134455456
If you can get a good exchange rate I'd start accumulating both. Open an Interactive Brokers account to get market rates for Forex, retail banks charge 200-300 pip spreads

>>134455246
Are Canadian mortgage rates linked to central bank rates? If so, a .25% increase is over $1000 increase in mortgage payments. I read a report that 75% of Canadians cannot withstand a $250 increase in cost of living.

>>134455580
Thanks. Where can I learn more about this stuff? Any books?

tfw the leafs don't understand supply and demand.

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bump

>>134455246
inb4 leafs buy the dip only to realise they bought the dead cat bounce.

>>134455246
Foreign buyers are less than 5%

This is a crash

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>>134453128
>That's $200,000 in 90 days or -$2,200/day.

crashing HARD

>>134456089
So how would an American be able to take advantage of this to make some shekels?

Foreign buyers are 5 percent, but chinks all get PR status easy you dingus

>>134455599
The whole idea of a mortgage is stupid. Buy in lump sum cash, pussies.

>>134453562
this fuck everyone who borrowed money to fuel their own and the jews greed i hope they end up broke and dead in the gutter

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>>134453128
I just went through a foreclosure. Technically a judicial sale.
Drive by appraisal at 440k
Sold for 319k
Only sale on my street for over 9 months.
1/3 of my street is for sale and lowering prices to intixe buyers

When to buy a house in toronto then?

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THE HOUSE OF CARDS COMES CRUMBING DOWN

>>134456577
Oy vey goyim take out massive loans now

>>134457089
Never. Toronto will be new Detroit in 10 years

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>>134456908
Care to elaborate?
Did you strategically default? If I recall Alberta/SK are non-recourse for non-CMHC mortgages..
When did you buy? What % downpayment? CMHC insured? Interest rate? Mortgage type?

What did the bank do? Did they let you live in the house free or make you pay rent? etc..

I'm gonna take advantage of this price drop, invest in a few properties and rent them to the goyim.

>>134457453
ok, where and when to buy in canada then?

>>134456577
Yeah I'll just pull this million out of my ass, retard.
My bank account only has 5 digits.

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>this fucking city

Quick, import more chinks to buy up more housing to keep the bubble from popping!

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THREAD THEME: https://www.youtube.com/watch?v=PGNiXGX2nLU

>>134457716
>I must buy this overpriced house here in this shitty overhyped neighbourhood because I'm a cum guzzling consumer white that loves jewish fairytales. What do you mean you want me to pay for a house all on my own? Hell no im not doing that. Borrowing money for this from greedy people on their pinky promise that they won't screw me over is obviously the smartest choice! Get out the way and let me borrow more money!

>>134458437
*consumer whore

Definitely not white!

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CASTREAU WILL HANG.
YES THE CHINESE WILL EAT HIM

>>134457559
Strategically? As in decided to stop paying because id rather offord life for my family.
CMHC loan
2013 september
10% down payment. I loan for that at like 8% (defaulted it)
3.5 apr 5 year
35 year loan

The bank dragged their feet. As did I.
We lived in the house for free since last summer. Wife and kids moved out over the stress in august. I stayed and used it as a base for my landscaping business while waiting for the bank to act.

Finally got notice to evict in april and moved out on june 1.

>>134453128
I wonder if this was caused by a similar policy of what caused the 2008 crash

>Community reinvestment act

>>134456711
GOTTA GET A BIGGER HOUSE THAN MY FRIENDS OR I'LL LOOK LIKE A FAILURE TO THOSE PIECE OF SHIT FRIENDS THAT I DON'T EVEN LIKE
HELP ME JEWS

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>>134453870
That entire run up under Harper. He really fucked us.

>>134458598
you said the rest of your street is now full of for sale signs...how long?

>>134453870
>A 20+% correction would wipe out the CMHC
only if people default
which they will, as interest rates go up

DAY OF THE RAKE IS FINALLY HERE!!

>>134457089
not for 3-5 years. This is the start.

>>134458840
paul martin should have noticed and checked the operations of the CMHC when he was PM
this all started at the end of chretien's reign
harper made it worse.
flahrety kept the bubble moving up steadliy, but joe oliver wasn't nearly as capable and trudeau's gov't has just said "fuck it, we're not dealing with this"

>>134458977
I hate to say it but your country is fucked. It lost both its energy sector and its housing sector.

Buy guns move to the country and watch the fireworks.

>>134457669
oy vey.

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>>134458598
You jewed the jews

>>134453128
Is this going to spread to the US housing market? Because I have a house I need to sell ASAP then.

I thought hongcouver was the bad housing city?

>>134459137
It was thanks to god tier Paul Martin that we didn't crash in 2008. He blocked the bank deregulations that Harper wanted.

Harper started deregulating in 2007 and thankfully didn't have enough time before Bush Crash

Special investigation: How high-risk mortgages crept north
https://www.theglobeandmail.com/report-on-business/special-investigation-how-high-risk-mortgages-crept-north/article1067885/?page=all

>>134458642
CRA wasn't enough to do it. CRA led to people who shouldn't have gotten mortgages to getting them. the banks didn't like this.
fannie mae and freddie mac would just buy those mortages no matter how shit the quality.
so the banks didn't have to give a fuck in the end anyways.
CMHC = Canadian Fannie/Freddie

>>134459137
Trudeau has repeatedly imposed new housing market regulations.

But it's too little too late after Harper let things run wild

Four major changes to Canada’s housing rules
https://www.theglobeandmail.com/real-estate/four-major-changes-to-canadas-housing-rules/article32223470/

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>>134453128
Hope some of you leafs saved up to buy low price property. I'm jealous.

>>134458903
average inventory in a healthy market in toronto during the spring/summer is usually about 1 month.
That is, at the current rate of buying, there would me no more houses to sell within a month if no one else added to those listings for that month

for the past couple of years, the inventory in toronto was not 4 weeks but about 1 week.
now it's 4 months.

sales volumes have dropped 30-50% while listings are up 40-60% compared to last year. people are unable to offload their places.

So when to start buying Canadian houses?

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>>134459212
perhaps, shit is fucked globally. Look at England, Democrat cities in US, Australia, leafs, New zealand, then the big ghost city bubble in China.

>>134459527
Yeah...you're fucked

>>134458598
Has the CMHC contacted you? Did the bank put in a claim with them yet?

So you literally bought the place with 0 down?

>>134459564
Our contagion is regional so it can be contained. Right now there is a mass exodus from San Fransisco to Austin where they can get the same home for 500,000 less and still work for the tech industry. The home prices are not reflecting the exodus. Just a matter of time. The genie is already out of the bottle.

>>134458768
Do Canadians even get houses? I thought it was all Chinese. Will Bitcoin go up in response to this?

>>134459564
The one that scares me is the China superbubble.

>>134458840
BoC governer Carney is very much to blame as well, keeping rates as low as he did. He was smart though, he BTFO right before shit hit the fan and took a gig as BoE Governer. Gets $500K pounds a year plus a free multi-million dollar flat and the credit of a good economy without the fallout from the crash now

Ironically the first thing Carney did in the UK was pump housing

>>134459162
ontario will pick up some of the slack with manufacturing

lol just kidding
the provincial liberals have been cranking up our electricity bills like crazy for the past 10 years so that's not coming back either

whatever, dude. we have a lot of mom n pop shop restaurants. we'll be fine!

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>>134453128
>toronto average
>920k
>According to World Cost of Living calculator spreadsheet (crowdsourced data), the average monthly salary for Toronto jobs is around USD2,605.52 or around C$3,415.00.

well shit, i thought leafs were just exaggerating

Imagine being a little chinese man right now having invested all your shit in Canadian houses

it almost makes me erect thinking about it

>>134459991
Yep Mark Carney gtfo dodge no doubt about it. I think he makes more like $800,000 pounds a year which is a shitload of money. At some committee, MPs asked him why he was being paid so much and he said that he needs it because he moved from one of the cheapest capitals (Ottawa) to the most expensive (London). These guys are such fucktards so detached from real economic reality. Poloz is even worse. These are the real enemies of the people.

>>134459980
kek

canadian homeownership rate has historically been between 62% and 69% at it's peak. We're at 70%.
if it was foreign ownership it wouldn't be 70% as we would be squeezed out of the market
canadians don't want to admit that we did this to ourselves because that would make us even dumber than americans

>>134460022
Hey you have a great timber industry. I'd invest in cardboard paper companies.

>>134459991
it's funny and sad
their primary tool is setting the key rate which they do on the advice of everyone else, once a quarter and only a quarter point at a time. of course if you drive down interest rates to near 0 you can get credit flowing again.

>>134460272
Foreign ownership is a huge factor. Billions of dollars from China are allowed to flood into this country. It's dirty money. Money laundering. Even if it's only 5% (that's what the govt says with very little data) that's fucking huge. That's all it takes.

>>134460330
no joke it's probably the best industry we have going forward for at least a couple of years
i believe the BoC is jacking up rates (and i have heard on good authority) because the trump admin threatened them to but will go easy on us with NAFTA negotiations in return

>>134460269
>>134459991
Bank of England's Mark Carney paid almost £880,000
http://www.heraldscotland.com/business_hq/13412982.Bank_of_England_s_Mark_Carney_paid_almost___880_000/

>>134456089
Yes, it's extremely tanned Canadians and slanty eyed Canadians buying houses, not foreigners goy.

>>134458903
In the past 2 years there were more and more foraale signs coming up. In the past year its been piling up though.

>>134459198
It will come back at me im sure

>>134459808
I stopped answering my phone years ago
I have all of my customers contact me via text whch (((they))) (the jew debt collectors) dont do for some reason.

>>134460330
>>134460563
Aren't we putting tariffs on that timber?

>>134460563
They had no choice to raise rates. Have you seen the bond yields?

http://www.bankofcanada.ca/rates/interest-rates/canadian-bonds/

when is the investment opportunity god damn it? how long did it take in the us for the prices to increase?

we fucking understood the market is crashing. what's next ffs?

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TOR owner fag here.
The question is which areas are specifically dropping. I'm fine regardless I don't have any debt in a place I've live at for 20 years, just curious.

>>134460471
what canadians buy in the US as a share of their market is twice what foreign chinese funds spend in canada

if foreign money was crowding us out we wouldn't own our homes but our ownership rate is the highest it's historically been. foreign funds bid up prices as well, but we did this to ourselves.

>>134460726
>bought a house 20 years ago

fuck you, you won the lottery

>>134460701
>Aren't we putting tariffs on that timber?
there always have been and it's always been a hotly contested issue
we'll have to wait and see on that one

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>>134453128
Good. I hope I see mass boomer/chink suicides. LET IT BURN

salty torontonians ITT
your homes were overvalued time for the real canadians to take power back

>>134460272
Foreign nationals, anyway. How many of the Chinese are citizens? It's a fact it's not young adults buying the houses because youth home ownership is in the gutter.

>>134459808
I paid the down payment on the down payment loan so kinda.
Looking back I most likely just deferred it to my credit cards through other expenses. Didnt pay the cards either. 75k total unsecured debt I walked away on while the judicial sale.

It will come back at me, but I say take a number. CRA is pissed at me too

>>134460718
i don't disagree. if we diverge too much from the US in terms of rates the BoC would have to buy bonds like crazy. it's just that the original plan, even as recent as 6 months ago was to start raising rates in late 2018
fucking morons were 100% assured that clinton would win or trump would immediately crash and burn the economy

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>>134459306
>Canada's financial system and banks didn't crash in 2008

That's where you're wrong kiddo.

>http://www.cbc.ca/news/business/banks-got-114b-from-governments-during-recession-1.1145997

>Banks got $114B from governments during recession

>Support for banks 'more substantial than Canadians were led to believe': CCPA report

One of the most well-known ways in which policymakers helped the banks during the crisis is through a $69-billion CMHC program whereby the housing agency took mortgages off the balance sheets of big Canadian banks. In contrast with other support facilities, all of the funds granted by the CMHC were through selling assets (in this case mortgages) to the housing agency. They were not funds that had to be paid back.

The CMHC has provided the aggregate total of how much was given out, but has yet to release specifics on which banks sold how much to them, and when, the CCPA says.

When asked for comment in reaction to the CCPA report, the Canadian Bankers Association noted that the $69 billion that Canada's big banks sold into the CMHC program is in fact only 55 per cent of what was allocated for the program.

>To show the scale of the funding, the CCPA report contrasted the total value of the support Canadian banks took against the bank's total value at the time. Under that comparison, CIBC received $21 billion in support — almost 1.5 times the value of the company at the time. BMO maxed out at $17 billion or 118 per cent, Scotiabank peaked at $25 billion or 100 per cent of its value, while TD and RBC maxed out at $26 billion and $25 billion — good enough for 69 and 63 per cent, respectively, of the total value of those companies at the time.

>>134453128
that's what happens when you combine hardcore globalist jew capitalism with marxist welfare schemes

YOU GET JEWED

>>134461037
I ran it through archive
https://archive.is/kibwc

>>134460852
when everyone tells you you're a fucking idiot for buying a house and it's the worst investment ever, that's when you buy in and get your winning lottery ticket.

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>>134460759
You realize these 2 things can happen simultaneously right? Canadian home ownership can go up and foreign buyers are using the Canadian housing market as their money laundering operation.

Yeah no shit Canadians are buying $150k homes in Florida. That's fucking dirt cheap compared the privilege of paying $1 million to live in fucking Brampton.


Not everything Garth Turner says is gospel kiddo.

>>134460726
>The question is which areas are specifically dropping
all of them.
we're not talking 5% here and 10% there. we're looking at at least 20-25% everywhere and more everywhere else.
note that the 20-25% is going to wipe out only 2-3 most recent years of gains

>>134460563
Then Trump really screwed you. He said before the election that we are in a huge bubble across sectors. He is prepping the US economy for the crash. He is going to go complete isolationist to keep the economy afloat.

You guys entered a trade deal with a Wharton business grad. Trump says his business as president is the USA and the citizens are his shareholders. These Wharton guys are ruthless. He could give two shits about the rest of the world.

>>134461090
1997 was a good economy

You could make more in tech then, than you can now

>>134461037
holy shit, another LEAF that knows about this!! I thought i was alone

>>134460701
they will need lots of cardboard for all of the homeless.

>>134461037
Cmon now you know what I meant. We didn't have a US style crash in 2008. We've fucked everything up since then. You know that Harper was he was in opposition he wanted to let the banks merge and deregulated in the early 2000s. Paul Martin put a stop to that shit.


Ban on bank mergers helped Canada withstand crash, IMF says
https://www.theglobeandmail.com/report-on-business/top-business-stories/ban-on-bank-mergers-helped-canada-withstand-crash-imf-says/article4600686/

Paul Martin: Taking A Stand On Financial Regulation
https://www.youtube.com/watch?v=CrG_Y4ZhvZk

>>134461226
oh yeah
and 1997 was when housing was just starting to come off its low from the 1989 burst.

>>134460973
So has the CMHC started to garnish your wages, seize assets, etc?

Sorry that you're in this situation, but didn't you realize this could happen when you bought, or was walking away always a back up plan?

>>134461476
Yeah housing prices were in the dumps but wages, jobs, cost of living, disposable income was so much better than now

Anyways congrats you're fucking laughing now. Why didn't u sell?

>>134453870
>6.8 trillion in liabilities vs. 0.0034 in assets
LMAO
More proof to never listen to Canadian financial advice

>>134460720
there is no investment opp. There was one post WWII and the shalom sandnigger refugees took advantage of it by renting/leasing and eventually buying the storefronts/apartments and warehouses they ran businesses out of. They sold those properties to foreign Chinks and domestic immigrants of all races and reaped the reward. Many developers are ex landlord jews. What gooks are doing is money laundering, not investing. There is no money to be made anymore - not like the money jews made.
There are only dummy citizens who pay dumb prices to be able to work here, because there are jobs.

>>134461322
>>134461457
Yeah but all of Canada's banks were bankrupt. Canada is notorious for "soft fraud" (and also fraud, see Valeant, Bre-X, Nortel, RIM, Sino Forest, etc). But banks stopped marking their books in 2008 thus not having to declare bankruptcy while the Feds worked a way to get their Tier 1 capital ratios up.

That's the difference between the US and Canada. The US takes risks, and when shit fails, they let it fail fast and start over. That's why the US actually has an economy and is wealthy.

Canada is risk-averse to the extreme. Everything is socialized and dependent on the government. That's why Canada is nothing but a hewer of wood and drawer of water, and has had no economy since the 90s.

>>134461505
Nothing yet
I dont want pitty, I knew. We both knew, walking out of the bank beeming with glee. I laughed and said to the wife "you know we cant afford it right?".

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>>134460899
checked.

I tried so hard, but in the end in doesn't even matter.

day of rake soon.

>>134461637
Jesus fucking Christ. Your government is totally fucking broke!!!

This is why they sold out to globalism. The IMF's expanding their game to first world countries. Massive debt-----> government collapse------> Jews buy the fire sale.

HAHAHAHAHAHAHA

>>134461817
Look man I hate the big 5 more than anyone. I fucking hate them. They should pay higher taxes, pay higher wages, no more TFWs, lower fees, all of that. The fact is they rule this country. No matter what political party is in charge. They make what combined $60 billion a year. They have massive global operations now. They're big in the US now. They're not going under. They're bigger than ever. Canada is their vassal state.

>>134461840
Not really beeming. But super stoked in our new house

>>134461637
Actually that's an old copypasta, the CMHC recently paid out $4B in a special dividend to the government to help reduce the $30B deficit so Cuckdeau can claim he's managing the economy better.

So now the CMHC has just $16B in equity for assts vs $950B in liabilities, leveraged 60:1.

>>134461607
i never owned a place, you're confusing me with the other anon.

i'll give you my story anyways
i saw the disaster we were getting set up for back in '09 but i didn't get a job until about '11 and thought it was too risky to buy in '13 or '14 when i finally had the money for downpayment.
wife and i have no debts (except for payments on one of our cars) and managed to save about $250k in the last 4 years.
until the last 8 weeks we've been constantly reminded that we're idiots for not buying in

>>134453128
Does this mean all of those chink billionaires who have been fucking up your housing price are going to lose their counterfeit shekels?

>>134461505
Also, the CMHC wont garnish shit. The mortgage is settled as the courts are concerned. It was a secured loan and the asset paid most of the principle. CMHC paid the difference.

>>134459162

That's the plan :)

>>134453870
>CDIC has $3.4B in assets
>CDIC has $679B in liabilities
>200:1 leverage

>200:1 leverage

My God. RIP in Pepperoni, leafland.

Chinese realised how fucking cold it is. Now they're all coming here :(

>>134461997
See
>>To show the scale of the funding, the CCPA report contrasted the total value of the support Canadian banks took against the bank's total value at the time. Under that comparison, CIBC received $21 billion in support — almost 1.5 times the value of the company at the time. BMO maxed out at $17 billion or 118 per cent, Scotiabank peaked at $25 billion or 100 per cent of its value, while TD and RBC maxed out at $26 billion and $25 billion — good enough for 69 and 63 per cent, respectively, of the total value of those companies at the time.

They make those profits because they're massively leveraged to the tits on mortgages and consumer loans. A slight dip in housing prices and they are bankrupt.

>>134461997
this is true

>>134461208
Link to where trump talked about bubbles?

>>134462039
The difference is that your housing industry is tied to real employment. In the US we hire illegals and pay them under the table so it is not reflected in our employment...we just build a wall!!!!

>>134462401
>The difference is that your housing industry is tied to real employment. In the US we hire illegals and pay them under the table so it is not reflected in our employment.
jfc i didn't even think of this
lmao we're so fucked

>>134462107
I have half that saved too, and so many friends and family who are (((real estate agents))) who constantly were saying "BUY NOW!!!" i will never listen to them again

>>134462249
I hate to the bearer of bad news, but:

>CMHC is a Crown corporation, you now owe the federal government $75,000 and you can't discharge it via bankruptcy

A simple Google search yields...
>You likely received a letter in the mail from CMHC that you owe significant arrears from the forced sale of your house. It is basically a judgment against you. Unfortunately, because CMHC is part of the federal government, they have the power to seize your tax refunds through their federal garnishment powers until the debt is paid.

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>>134453128
https://www.youtube.com/watch?v=bUFWXpYJKaI

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>>134462527
our dollar has been going up lately

>>134460852
Yeah, bought it for under 200k in 98'
Most recent appraisals was at 900k

>>134462348
He said in the debates that this was coming. He knows the market is going to crash.

https://www.youtube.com/watch?v=4xn9jLy_TB4

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>>134462401
Wrong, housing is tied purely to loose lending by the banks and offloading any risk to the Federal government.

Our employment statistics are also highly deceptive. StatsCan counts part-time and full-time employment as one and the same, so an eldery grandma working multiple shifts at Wendys, McDonalds and Tim Hortons counts as 3 jobs.

The last job number that came in at (((45K))) was actually 38K part-time jobs primarily among Senior women aged 55+, with only 7K full-time jobs.

Canada's jobs are utter shit and pay nothing. Average salary in Canada is $29K CAD OR $22-23K USD.

>>134462627
Congrats. In Toronto? Why don't you sell if the market is tanking. Market peaked in February.

What was your rate in 98? Just curious.

>>134462619
yes, up with the interest rates
so we're set up for a huge kick in the ass
our largest industry, which is construction and real estate is going to get its ass kicked
oil won't recover so long as fracking is a thing
manufacturing isn't going to soften the blow in ontario because our electricity rates skyrocketed
and we might be getting fucked (as usual) on lumber as well

that's our 4 biggest industries failing in the span of about 15 years. that will be bad for the dollar

>Parents buy house 10 years ago worth 650k in Lawrence Park South
>refurbish it top down
>New subway line being built less then 5 min walk
>worth over 1.4 now

Cant wait to inherit this shit already asked them about it and they would be willing since they wanna retire in this city. Told them to rent it out when they wanna move to a retirement home and make that mad money boi, right now you could rent in are area at 1700 a month.

>>134462619
>implying that's a good thing...
There is a reason why our government intentionally does everything it can to keep the loonie bellow the USD. Canadian jobs literally depend on it being that way.

>>134462107
>and managed to save about $250k in the last 4 years.

wow

that's pretty damn good

>>134462953
he's probably a torontonian idiot

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>What 250,000 gets you in the Maritimes
https://www.kijiji.ca/v-house-for-sale/cape-breton/843-e-big-intervale-rd/1282930977?enableSearchNavigationFlag=true
>What 250,000 gets you in Ontario
https://www.kijiji.ca/v-house-for-sale/oshawa-durham-region/house-for-sale-in-oshawa/1267158279?enableSearchNavigationFlag=true

>>134462953
Yeah well there's big difference btwn 95 cents and 79 cents.

We should be able to have a decent economy at 90-95 cents. We shouldn't rely on having a banana republic currency.

Don't you buy things? I dunno about you, I like having purchasing power

>>134454036
>Bankruptcy can't discharge CMHC debt since it is Crown debt.
I did not know this. So it is like student loans? Feels comfy to be honest; our only value left in this country is money and greed.

>>134462107
Keep saving and immigrate as an investor to the USA. Your salaries will double-triple if you're skilled and your effective taxes will be the same (far lower tax rates).

>>134462828
Employment is the same here 3 part time shit jobs to pay the rent counts as three pepole working even if it is one person working all three.

You have a shit ton of mortgage back securities propping up your 5% return pension funds. No mortgages...no MBS's no MBS's no pensions.

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>>134462619
It's the boom before the bust that you should fear.
It's chasing artificial highs that causes the crash in the first place.

>>134463059
I lke having a purchasing power unlike Canadian retards who think it's genius to have a 60 cent dollar to try to compete with Chinese slave labour. Fucking morons.

>>134462523
The down payment loan is a different loan.
The CMHC part was just the mortgage.
They chose to sell at the level they did. My debt is free and clear on the mortgage.
If your correct then it would be the couple grand difference between principle owing and the sale price.

>>134463105
>living in the maritimes

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>>134461204
Help a retard out, anon.

Do you mean 25 - 30 percent drop in the value of a house? From the current prices they are selling at?

>>134462961
average over those years is about $110k/year gross between the two of us. if you're just a couple renting a small place or living with parents then it's pretty easy to save about half of that gross income

Canada != TORONTO you fucking faggots. I'm so fucking sick of shit. Toronto is a piece of shit hell hole. Fuck yeah your market is crashing because people finally realize what a shit town it is. Meanwhile in the ROC everything is fine.

>Canucks are going to start unloading AZ winter homes, dropping my home price

Fucking frostbacks

If I'm planning on buying a house and never selling it is now the best time?

>>134463467
Maxed out TFSA and RRSP?

Which vehicle do you prefer?

>>134457853
Does anyone have the image with the skidmarks on the rainbow crosswalk, and how much it cost to paint?

>>134453128
What will crash? Nothing, you will just get bigger debt so they can increase prices even more.

>>134463694
buy an RV for now. This shit storm is going to last a while.

>>134463681
Doubt it. Unless they're in serious trouble. Aren't AZ home prices rising nicely?

>>134463321
i'll be clearer

as of march, prices went up about 33% YoY in Toronto and slightly less in other places
we've had a roughly 20-25% drop, which wipes that out so we're pretty much flat, but some people have lost abut 2-3 of the most recent years of the gains they got.

the inventory has shot up from 1 week to 4 weeks, sales are down nearly 40% and listings are up over 40%.

this means that 1, 2, or 3 years of gains are already wiped out from just the past few months. the market is currently situated for even more price declines.

>>134463845
I think somebody is going to blink in this insane game of chicken

>>134453128
>rich people trying to bank on inflated prices losing money on their investment
good. maybe they can fuck off back to china

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>>134463132
Dollar was that high because Oil was extremely high and the Oil Sands crude blend (WCS) was economically attractive vs other lighter crudes ie.WTI/Brent.

WCS usually trades at a differential to WTI, $10-$30 off. Last year when Oil hit $26 WCS was selling for -$0.50 (NEGATIVE 50 cents).That's what the Koch brothers were offering at their refineries for WCS; they would just buy it and burn it.

Oil isn't going higher for many years. Demand is expected to actually decrease this year and next, while supply is going to explode. Even with OPEC cutting 1.2m bpd and Non-OPEC at 0.6m bpd, 1.8m bpd total, WTI can't break $50. OPEC compliance will fail anyways, and OPEC always cheats. Compliance has dropped from 95% to 78% and according to basic game theory, now it'll be a race to pump and maintain market share, especially with Shale revving up like no tomorrow.

Furthermore Canada's other commodity, nat gas, is going to drop. They're finding major fields everywhere now. Israel for example has a major new field, the Leviathon, has 16 trillion cubic feet, found West of Haifa 5KM under the sea.

Then you have the whole Methane Calthrate, which is iced natural gas (yes, ice that can light on fire). Conservative estimates put worldwide methane calthrate deposits at 10x the normal nat gas supplies. There is a shitload below the South China Sea, hence why China is willing to go to war over it.,

>>134463716
>Maxed out TFSA and RRSP?
TFSA, yes. RRSPs, close to maxed. Also RESPs set up for our 2 babies
>Which vehicle do you prefer?
corolla. doesn't break really ever break down, easy to do maintenance. easily repairable.
also considering leasing cars from now on. why own something that just depreciates in value?

>>134463845
we kept doing this but now it's the end

>>134463321
>>134463931
The problem is that the people that bought the last few years will be wiped out and the house firesold as a foreclosure/judicial power of sale. Banks don't give a fuck what they sell it at, because MOST mortgages are insured by the CMHC.

And there in lies the problem. The banks will dump more and more houses in a negative feedback loop, continuously depressing prices even more. Lower prices, more foreclosures,even lower prices, even more foreclosures, etc.

>>134453588
Toronto is a smog covered cess pool of immigrant shit. Move out to the country

>>134463209
stay poor minority

>>134464009
Has this hit Chinkouver? if there massive losses in Vancouver, that would explain why the PBOC has suspended trading for the last 2 weeks.

>>134464364
what a fucking catastrophe
i saw this writing on the wall when we didn't shit the bed in '08-'09
>me putting reddit fedora on
now the chickens have come home to roost

>>134463987
There's a high democratic people's demand for higher punishment for financial crime, but that's not what you will get. Those at top don't even know everything that goes on, neither they want to know, they have their advisors and their salaries. How beautifully can your salary increase if you work with housing people, if you work with debt people. Every successful deal with debt is percentage on your account, you be thinking if you are smug that you saving economy, only in darkest, deepest corners of your political mind you will find personal responsibility, since personal responsibility only comes with removed immunity and punishment, which all starts with exposure, public exposure of public finances, but sadly they are private. We are talking about the egg that never hatches, the chicken inside having wifi connection to Rothschild. Let bog help us now.

>>134461037
>>Banks got $114B from governments during recession
The public wasn't notified about this until 2012, I believe. Now the US got $700 billion, at ten times our size. Does his mean the bailout in Canada was effectively 50% higher than in the US?

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>>134463530
It's not Toronto it's Ontario. 90% of the population lives within a 3h drive of Toronto.

The rest of Canada will get fucked by the ensuing severe depression.

Canada's GDP is based on government spending, business investment, consumer spending, exports - imports (G + B + C + E - I). Business Investment is fuck all, the vast majority of Canada's GDP and economy is driven by Government and Consumer spending, both of which rely heavily, especially the last 15 years, on elevated housing prices and people borrowing from their home equity/credit lines to fuel spending.

Take that away and Canada's economy crashes.

Consider that 5% of canada's GDP is home renovations. Not construction, RENOVATION (granite counter tops, stainless steel appliances, etc). The highest in the entire fucking world by far.

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>>134453128

>>134464771
>Does his mean the bailout in Canada was effectively 50% higher than in the US?
yes
BUT:
"Canadian banks are prudent lenders."

that line is part of our national ethos. no one here is crazy like those cowboy yanks to the south who leverage everything like madmen.

>>134464533
Was your hit nationally or regional in 08-09.

I bought my house in the 7th largest city in the US in 07 and it went up in value during the crash.

In the US, our mortgage crisis was physically contained. The mess was at the banking level.

Yours seems to be at both the consumer level (price drops) and the national level (increase taxes to cover foreclosure). The banks are going to fuck the people coming and going

>>134461141
Where is this picture from, friendo?

So can some give me a quick rundown about this?

Does this mean that housing prices are going to plummet to near worthless in the near future? Will I be able to buy my own place from this?

What's going to happen to my buddy who just bought a condo for $550000? Should i warn him about this?

>>134465005
no you're supposed to think its bad, despite it clearly being good for 99% of the population. be scared, call for action. get those prices put back up to unreachable levels.

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>>134453128
Good. Property transfer taxes are pretty much the only way this city collects any revenue.

>>134461332
Kek

>>134464967
from inside a bank. It was on Garth Turner's blog but I think made the news as well

I think it was a CIBC branch in BC. They took it down after. 35% down payment, no income verification, foreign students lol. money laundering is what it is

>>134464771
We still don't know how much the Bank of Canada printed and handed to the banks because they don't have to reveal it to the public.

And yes, Canada took over a trillion equivalent to bail out it's economy compared to the US' $700B TARP

>>134453588
Stay the fuck out of Guelph shitskin.

>>134465212
I heard Guelph is being filled to the brim with 3rd world shitskins and Syrian Jihadis. Truth?

I remember up until 2010 Guelph was like 99% White.

>>134464252
lol my bad i meant which investment vehicle do you prefer

Yeah TFSA total cap is what about $60k now. RRSPs are tougher to max out.

Toyota Corolla is definitely very dependable though.

RESPs, do they still match 20% up to 2k? I don't have kids but that's what it was when I was growing up.

My dad would usually stop at $2k lol

>>134464645
Vigilante justice needs to return

>>134465005
The only question is if your salary is going to increase too, probably not needed for GDP growth.

>Will I be able to buy my own place from this?
What do you mean with buy? You should rent, not buy.

>>134465005
Your buddy is absolutely fucked if he bought a Condo for $550K. He might as well start making plans to leave the country

>>134453128
Look, we gave you the chance to design a flag and you picked a fucking leaf. We're not getting involved in your finances. Fuck you.

>>134465356
What Canadian city over 100k isn't

>>134463879
The US financial crisis saw a 50% drop so hold on to your asses.

Phoenix is almost back to its former real estate peak from 2005-6.

>>134458345
How can Manlet Max and Tiny Trudeau compete with 6'4'' Andrew "Smear The Queer" Scheer?

>>134453870
starting to think Chinks have laid a trap for you leafs. who the fuck spends millions of dollars on a glorified shed?? was it their intention to crash the market and make Canada have to bail it out?? have to rely more on Chink money?? will they swoop back in and buy the dip starting the shit all over again.

these chinks are the new Jews.

>>134453128
Why can't this shit happen here in Austria? I have money but I'm not willing to buy at these prices here.

>>134465488
Miami Condos dropped like 90% overnight. People that bought a condo for $400K couldn't sell them for over 50K.

Same thing will happen in Toronto in a few months when full blown panic comes to town

>>134465396
I only hope that our God and Emperor will let the whole system melt to the ground.

Trump is hinting hard that US banks should look to bankruptcy court and not the federal government for restructuring.

His message to the banks...make stupid choices suffer stupid consequences.

>>134465633
Florida real estate is fucking paradise compared to what Canadians are paying to live in a frozen shithole

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>>134465571
You mean Scheer Cuck

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>>134456089
Domestic buyers get spooked when mechanisms come in to no longer let them sell at cheap rates to an endless pool of foreign millionaires. However, once they realize nothing much has really changed because foreigners can still afford a 15% tax the prices will go back up.

It IS due to the introduction of the foreign buyer tax. It's also mostly to the domestic reaction to the foreign buyer tax. It's not a crash, it's a blip.

>>134460269
If you can't find a job, just work for free.

>>134465356
Yes. I started university there in 2009. It was incredibly white but increasing amounts of asians started showing up by the time I graduated in 2013.

I visited the city recently and don't each recognize it. Niggers and towelheads everywhere.

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how could housing prices in canada be collapsing? are you telling me that pic related is unreasonable?

>>134465814
like in the big short movie ...a gully

>>134465798
lmao

21 yr old already in debt and accidentally cosigned for some bitch before I lost my job and now im going to be on the hook for the car because she's a drug addict and not paying. I live in Toronto, what do? Should I just join the military?

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>>134465571

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>>134465814
t. Housecuck that bought in Feb now underwater

Less than 5% of buyers are foreign. It's all debt. See >>134453870

Same thing as 08 in the US w/ Fannie/Freddie. In fact Canada had to be bailed out with $1 TRILLION equivalent ($114B) to save the banks, which were all bankrupt due to housing values having collapsed. See >>134461037

Now prices are dropping 10%+/month. July will come in at $720K, august <650K, September will be mid 500s etc. That's when the crisis will hit the banks and the government will have to bail them out. But good luck considering Cuckdeau is running $30B+ deficits already.

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>>134466099
>classic canadian fairy tale

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>>134466099

>>134466223
You'd have to be pretty retarded to get foreclosed on in this market no? You can still sell at a high price even with prices dropping. And it's not like these people recently bought because the foreclosure process takes months

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>>134466242
>>134466247
fuck you guys, especially coming from a fellow leaf, and a Britain. We're supposed to be monarch brothers

>>134466223
The bailout will be 40 year mortgages and a 50 cent loonie imo

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>>134466516
Never trust a women with anything.

>>134466516
Hey man I wasn't mocking, I was sharing the feels

>>134465918
https://www.youtube.com/watch?v=PgGLgygsqus

>>134466099
>accidentally cosigned for some bitch
How does that even happen?

>>134453128
what took you faggots so long?

>annexing canada when?

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>>134466485
Anyone that bought this year is underwater.

For example
>152 Randolph
March, list $1.489M, sold $1.95M
$542/sq ft

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>>134466099
omfg neck yourself you stupid fuck

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>>134466223
>Less than 5% of buyers are foreign

Does not include students who come over here and immediate purchase a $800k condo because their foreign parents have money.

Does not include permanent residents.

Does not include people who use Canadian businesses to transfer their wealth and park their money.

May I remind you that half of Toronto is foreign-born?

I rent, I don't own real estate and all of my family lives outside the GTA btw

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>>134467113
2 weeks ago, July 4th
>75 Randolph, same street
List $1.499M
Sold $1.265
Lot 45x113, 5,085 sq ft
$249/sq ft
-54% in 100 days

152 Randolph would now be worth $896K, -$1,054,000 in 100 days

>>134467096

Holy shit please, just end it for this cuck nation. Give me your sweet constitution PLEASE.

- t. Ameriboo

Just keeps the nig nogs and spics away. Also bomb Toronto, Brampton, Hongcouver, and Montreal. Thanks.

>>134467113
I get that they're underwater but there's no way you get foreclosed on in 3 months.

>>134467314
>delusions

Reality is a bitch, but the reality is The Day of the Rake has arrived and Canada RE is crashing harder than the US in 08

>>134467241
be nice

>>134467487
bomb Brampton twice please

and don't forget Misssissauga

>>134467113
$2M for that? lol

i would love to know what poor retard bought that

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>>134466859
It just did senpai
>>134467241
Why would you say that? We're all in this together. This is the only place I can find solace in this kiked out dystopia and I can't even find a decent human being to just give me some advice fuck all of you faggots.

You have no clue what its like living in Canada, take it easy pls

>>134467555
I agree, as the anon above who got foreclosed on, they waited many months

Canadian banks usually wait 3-6 months before going to the CMHC. That's why foreclosures are always absurdly low in Canada because they're not delinquency rates

That's why I'm saying wait until the fall when prices drop to levels that impair the Big 5's uninsured balance sheets (LTV's 50-70% range).

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>>134467113

>>134454731
I have $5000 and 200 ounces of silver and several firearms what do

>>134467935
>That's why foreclosures are always absurdly low in Canada because they're not delinquency rates

exactly

Yep you're right, autumn is going to be a bloodbath. Leafs will be falling

>>134453128
>Toronto

HAHAHAHA

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>>134467113
is this 100% for real?

>>134468077
get a RV and solar panels and you are squared away

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>>134467487
I honestly would love to shoah every last Cucknadian. Leave nothing there but oilers.

Soo... if the crash gets bad enough that it is a total collapse, think that shitskins will stop coming here and maybe even leave? Man I hope so, but knowing our luck we're going to have them just gobble everything up at fire sale prices.

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>>134468298
Yes

>>134453128
BASED

>tfw own property on the east coast
>tfw nothing will ever really change

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>>134468370
I want to see them try to justify 320k immigrants per year when the economy is melting down and unemployment is soaring. Fuck they'll probably claim we need 500k immigrants a year to save the economy. Make it a million just to be safe.

>>134468513
not to mention there just isn't enough capacity in our health care system for sickly immigrants coming with 3rd world health problems. waiting lists just keep getting all that much longer and our ERs more clogged.

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>>134468298
April 9th, $642/sq ft
July, $411/sq ft

-36% in 70 days

>>134468311

Haha you don't know? The government will find these types of people and use every regulation in the fucking books and take them to Poundtown. There is one thing our politicians and government hate more than the nation, self sufficient people.

>>134468363
i would be offended, but as a canadian i'm just happy to be noticed, thanks for including us in the memes

>>134461817
I'm with a local credit union instead of a regular bank

am I slightly less fucked than everyone else?

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>>134468513
>320K
LOL

Try 800K+

If you want to take the Trudeau Soros Metropolis Blackpill, here you go...
https://archive.4plebs.org/pol/thread/119280692/

>>134461993
Good thing the US government is solvent huh?

lamoa

>>134453128
FUCKING FINALLY HOLY SHIT FUCK YEAH
My parents sold just a year ago and now they'll be able to buy for pennies. I myself am getting out of this shithole though, unfortunately this is far from the only cucknadian problem

>>134467113
>2 million leaf dollars for a cuckshed
gg whoever bought that. Once the interest rate rises the rakes will come out

>>134468646
Everything is over-burdened. Healthcare system, education, infrastructure but the worst part is our labour market is completely fucking saturated. Everything is part time, shit wages because the labour market is completely flooded.

>>134468661
I wonder what these people are doing with themselves now. If they're speculators, they probably only put 5% down that they borrowed from a HELOC so wouldn't they just walk away

The people who bought in Jan-March bought at peak tulip

>>134469364
>Everything is part time
I think I should change my last name to Abdul or something, so employers will assume I'll just take whatever they offer with no bargaining power. Which I will at this point.

>>134467555
>>134467857
>>134467970
>>134468298
Wow, you're really emotional about this post

>>134469087
no Trump plans to take our system down and rebuild.

>>134469285
Where are you going? I'm off to Europe hopefully by the end of the year. US is 1st choice but impossible to get there legally. Australia and NZ are just as fucked but at least better weather.

>>134469502
the only good jobs are government jobs and they only seem to hire abduls

>>134456908
PFFFFTTTTTTT BAAAAAAAAAHAHAHAHAHAHAHAHA

I can't wait to buy your house for $5,000.

>>134468929
I hope the majority of these immigrants are concentrated to Ontario.

Let that province fuck itself and not the rest of Canada.

>>134469610
I'd try Costa Rica or Columbia

>>134469517
2 million for that cuckshed

i can't stop laughing

>>134460471
>>134456089
>5%
Don't be a dumbass

A lot of these chinks bought Canadian passports. So the government counts them as Canadians, even though they are subversive corrupt fucks that don't speak English.

It's fun seeing these Chinks crash and burn, but seriously they cared more about getting their money out of that collapsing totalitarian hellhole in an asset with real value so they won't be quite as upset about this as we'd like.

>>134469517
>flag
Thanks for reminding me, need to masturbate to Jewess Duda

>>134469668
they're actually pretty into hiring women and asians too

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>>134469777
checked

also, now I see why these little cuck carts are so popular in Toronto.

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this was planned
>canadians will go into forclosure, unable to purchase a house for the next decade
>foreign buyers will swoop in with cash to purchase bargain basement priced properties which canadians will then be forced to rent at high prices because they have no other options

the same thing happened in florida
good luck canada, you're fucked

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>>134453128
go to this link and search for other Canadian housing Markets

http://www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool/

1- it was the Vancouver Chinese money going back to Vancouver after recovery

2- it was the Ontario government's feminist government and totally corrupt new law suggestion to the provincial government

3- it is the end of spring the market will bounce back in January of 2018

pic related, look at those hands... ummmm

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>>134465571
More like Andrew Queer and Here Scheer

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>>134469937
>>134469668
Government uses Gender Based Analysis Plus in all hiring/immigration decisions. That's why no straight whites ever get hired or immigrate.

>>134469777
Checked, and I can understand that. As far as I know your mortgage market is larger than the American one before the crisis so I hope that you'll trigger the happening, don't disappoint me on that one Leaf.

>>134453870
CMHC is not Fannie/Freddie, it's FHA. It's subrpime shit. Fannie/Freddie were conventional mortgages.

I can tell you what will happen, or is already happening. The banks probably know they screwed the pooch, already, and they buy worthless defaulted paper from each other in VC market. The same shit will happen in Toronto.

Canada is too criminal to even be a Western country. You will have a death by 1000 cuts like in Japan. The banks earnings will start dropping. They will not report any losses. It will go on for decades. CAN banks will not flush bad loans. Look at the oil collapse. None of them were affected. They buy each other's stocks and will hide losses. Granted, the bit 5 are worthless already. You just don't know it yet.

Toronto is to Canada what Canada is to the rest of the world. I hope they all end up homeless and dead.

>>134469610
I have things set up for a gig in the UK. I know the UK sucks balls right now but nothing can be worse than cucknada. After that I plan to build my own company in a non-shit country in Europe. The US has its advantages but also its disadvantages, and I have connections in a few places, but it's oversaturated in my line of work.

>>134453870
>CDIC has $3.4B in assetsCDIC has $679B in liabilities>200:1 leverage

Do you mean CDIC has $3.4B EQUITY?

Or do you not know what leverage is?

Because $3.4B in Assets and $679B in liabilities is technically called "insolvent" but more accurately its called "bankrupt"

>>134453128
Fuck I'm renting and I think the homeowner will get hypercucked.

WHAT DO?! I seriously can't afford a home. Winnipeg, Manitoba by the way.

>>134469364

When my parents bought their house ~8 years ago, it was in a quiet area, good access to the highway, just enough shops/plazas in the area to be close to what you need, but enough farmers fields, forests, and other nature in the immediate vicinity that it was decidedly "comfy". Traffic was good even at rush hour.
Now? Every field and forested area (they cut off as much land from parks and conservation as they could without causing a riot) is not being developed with high density housing, which was not the norm in the area. The infrastructure can't keep up, people "down stream" from us getting back flow issues, roads getting beat to shit and are packed all hours now. The first wave of people was 70% white, the next wave is brown. Got it on good authority from the builders ,"Yeah lots of Pakis, Indians, and Arabs are buying my shit".

>>134470030
It's because condocucks in Toronto buy all organic/vegan shit for 300% the normal price of food for virtue signalling points when they do condo tours to their friends and it turns to the kitchen: "Hey check out all the cool $8 Organic Bananas the natural health food sells! I bought 5!" or the "Hey do you want some organically sourced coffee brewed in an organically grown avocado shell?!"

hence only need a 1/3 of a normal shopping cart

Isn't the chill from a hike in interest rates and not a crashing market...?

>>134454036
>>Canadian mortgages are all Adjustable Rate Mortgages (ARMs) that reset every 5 years


This is true? Holy fuck. How can we invest against this suicide?

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What we need to do is make sure that we ride the tidal wave of young peoples discontent and make Tai chi that energy into creating the next hitler youth. Even if Ontario's racial demographics are muddy enough, antisemitism is still going to flourish. That's the plan.

>>134470031
While there will certainly be people who profit from this, your framing is all wrong.

It's more like this
>Western countries are very open to investment from where-ever
>in recent years, thanks to treacherous multinational corporations a bunch of Third World goons from politically precarious shit holes have got very rich
>these goons want to use their cash to buy stable assets
>flood Western property market
>mostly in big, famous cities
>because these third world goons want to have property in famous places to impress other third world goons
>Canada allowed a never-ending flow of this money - goons got homes, banks made money, big property boom etc...
>until they stopped giving any Chinese conman who wanted a passport one
>Chinese conmen actually tried to sue the Canadian government over this - as if they have a fucking right to become Canadians because they want to
>...coming from people who don't even have the right to their own public opinion in their home country...
>anyway, combine the smaller number of newcomer Chinks with the new taxes Canada has on foreign buyers and the slow-motion mega-crash that's happening in China right now and suddenly there isn't the demand there was
>everyone suddenly realizes that the market is absurdly over-valued and the smart money pulls out fast
>rich Chinks BTFO
>but, as I said in another post, they will be thinking "at least I own it and the money is out of China"

>>134470457
That's starting to happen here, too. 5 years ago it was a lot of forest and empty fields and such. Now it's a lot of identical overpriced houses. I don't like this trend and may relocate to a smaller town if it keeps up.

>>134464946
if they're so prudent why did they need that $114B bailout at all?
it's all a meme, I've worked for consumer loans companies and subprime lending is out of control right now, esp. regarding auto-loans. From what I can tell the banks are implicitly involved in all this via partnerships with consumer loans companies and the forecast for collection is fucking grim.

>>134470432
Well yes, but you get the picture. They're contingent liabilities so it's not technically bankrupt since they assume people defaulting is not probable. The wonders of GAAP/IFRS.

>>134470432
Which is what they are, you fuckin spack bag.

>>134470708

I will move I think, when it comes time to, but there are places you can buy in my city that are literally located in a fuck huge conservation area. Decent lot sizes and good privacy, too bad about the prices though.

>>134470528
Poloz hiked after Toronto was already in deep dive LOL

The next day the IMF came out and went "WTF is Poloz insane?"

>>134470457

This sounds like Pickering. Tonnes of construction in the north, with the town feeling like an extension of Scarborough more than anything else.

Looks like the mall is dying too, the stores are getting shittier and shittier. Most new restaurants have some sort of asian theme, they even put in a new asian food market not too long ago.

>>134471237
I don't want to leave if I don't have to. I have a pretty nice thing going but this town's going to shit.

>>134470709

Haha, funny you mention car loans. I worked during the summers as a student in a factory for a few years, and I've seen some new guys come in. First couple paychecks, they buy new $60k cars and trucks, only to get laid off a year later.

>>134453128
I bought a house for 250k on the water in Windsor. I feel fucking great. I work at a pizza place. Fuck all you Toronto/Van whiny bitches.

>>134469707
>I hope the majority of these immigrants are concentrated to Ontario.

>Let that province fuck itself and not the rest of Canada.

This attitude is why we're a cuck country.

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>>134471740
Every Canadian's destiny is to become a conservative self-hating Canadian.

I was looking to buy a condo but do I buy now, or wait 2 months? My budget is $350k but how much do you guys think the market will drop by then?

>>134471327

No I'm from Hamilton. Growth here is a little tempered compared to anything that close to Toronto, the problem is that there isn't a lot of land here that can, rather, should be used. Conservation and lake on the West side, North side is all industry/lake, and South side you begin to run into the Greenbelt. You only can go East, but that's the best god dam farming land in the entire country, and they're building condos and cheap ass developments all over. Every inch of land that could be developed in and around the rest of the city is currently under construction.

>>134471940
Rent and thank /pol/ in a few months. Prices are going to decline for years

>>134453822
>((((THEY))))
>lowering prices

>>134453128
YEEE BOY
This is perfect. We'll get a chance to save our country before it's too late.

So would it be accurate to say that anyone that has bought property this year in ontario is completely fucked? and that anybody else looking to buy should wait like 4 -6 months?