CANADA YES! Leaf Real Estate crashing, Day of Rake Soon

>>134500581
Take off your nuflag, fag.

>>134500581
Annexation of the prairies when?

>>134500581
Back to bant

>>134500581
fuck you nigger

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good

>>134500881
>go on /bant/
>it's an even more reddit infested /b/
sweet jesus what the fuck

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>there will soon be a Canada happening
>all the SJW cunts that wanted to lecture you about diversity are now waiting in breadlines

God I can't wait for them to get the leftism they begged for.

>>134500740
Certain people need flags, some people feel more comfortable with them, some people are scum that hate the first system that sort of works.

>>134500823
I'm hoping more splintered nations that then reunite the previous American and Canadian states with an EU style trade/migration/strategic tax zone.

It will solve the American migration networks, the NAFTA (sp?) thing and a whole bunch others, but it will mean a republican killed the United states (or the United states should completely invade Canada and then have a libertarian revolution?)

If the house prices collapse, it could set it off. Canadian capital flight and an almost non existent middle class population to pay for a bloated welfare state could mean an invasion is even asked for.

>>134500581
are you lost
>>>/bant/

>>134500581
the fucking chinks have raped our market in Vancouver but can't stop them because that would be racist

>>134500934
GO BACK TO TWITCH YOU KEK

Day of the rake? Nigga, I can finally look forward to buying a house at a reasonable price now that they arent just pieces of some sick chinese board game, how is this a bad thing?

>>134500581
>>March $916K
>>April $920K
>>May $863K (-6.2% m/m)
>>June $794K (8% m/m),
>>July 1-14 $760K (-4.3%, extrapolated ~9.7% m/m)
>>July <$720K

Holy shit, that's insane, what is causing this?

>>134501697
if I recall some sort of new tax in toronto

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WHERE OUR MONEY LAOWAI DOG

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around leaves don't be at ease

>>134501697
>>134501869
Damn it's in freefall. Seems like they fucked up pretty hard with their new tax.

What new tax did all of this?

this will sink justin

next leader will have strong ties with trump and a zero-fugee policy

cap this

>>134500581
I don't really understand how this is such a big deal... Isn't the obvious solution to not sell your house right now if the prices are so low?

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>>134500581
Holy fuck the sky is literally falling on the canadian housing market. This is actually a serious thing for all the leafs. Hope the shit posting was worth it when you gotta room with Chang, Ling, Xing and Ting.

>>134502369
https://assets.kpmg.com/content/dam/kpmg/ca/pdf/tnf/2017/ca-Ontario-New-15-percent-Property-Tax-for-Foreign-Buyers.pdf

>>134502556
Yes obviously, but
>losing half the value of what you just bought
Honestly that could be suicide tier, especially if that thing was a million dollars...

>>134501274

Not enough Libertarians around for that. Too many Murican's just adore big government on both sides of the aisle.

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>>134501697
>>134501869
It's just a bubble crashing

Toronto 2014: $526K
April 2017: $920K

>>134500581
It's still not enough.

If younger or lower income people are going to have any real shot at affording a house the market needs to completely crater way more.

>>134502839
Fucking this. The market needs to fucking nosedive and you leafs have to have housing reform and laws that don't let wild speculation be the absolute norm.

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Good thing cucknadians sold all their pesky gold reserves

>>134500581
>south of the river
what don't you understand

>>134502128
it was so people stopped buying shit and have no one living in it to flip the place

samething happened in vancouver last year

Montreal is the second largest city in Canada and has none of this bullshit minus new ugly as fuck commieblock condos but only retards buy thos

>>134502714
Who the fuck buy a house for a million dollars?

>>134502630
Burger, the chong investors don't actually live in Canada. They just buy all the residences up and watch a ledger rise up.

who else is dumping their mutual funds which invest in foreign mortgages tomorrow?

>>134502948
Fort knox has been emptied for decades. You sold it too. We are all in the same boat friendo

>>134503068
If you're income is $150k some (yes some not very smart I know) people think they can do it. The bank says lol okay and bam you got a loan.

Neither the bank or the person buying asks, what if the market does what it always does after sustained 10% annual growth?

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>>134500581
Anyone that bought this year is underwater.

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

>>134503154
A lot of the world's gold is kept underground at the NY Fed in Manhattan

t. Visited the vault, biggest cage that was unmarked but everyone knew it was Saudi Arabia

>>134500581
North and south side of the river. Not hard to figure out.

>>134503251
That's looks like a well kept crack house.

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>18
>no gf
>no job (yet)
>No plans on moving until I have a steady and high paying job
>This happens
>I've lived in Toronto my whole life
>Know jack shit about housing and how to purchase it
Should I just move to a cabin in bumfuck nowhere, Saskatchewan until this is over, or learn to abuse the sink in prices that are about to happen?

>>134500581
>canada
>trudeau
>sells all the gold
>now have more worthless paper money
>gooks
>defeated spirits
>dude weed lmao
>rampant forest fires

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>>134503251
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

>>134503291
>As of 2015, the vault housed approximately 508,000 gold bars, with a combined weight of approximately 6,350 tons. The vault is able to support this weight because it rests on the bedrock of Manhattan Island, 80 feet below street level and 50 feet below sea level.

>>134503381
>-$10540 per day


absolutely incredible

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>>134503251
>>134503381
random house in legit downtown montreal 750k-1.2 3-5 bdrm 2-3 floors

toronto&vans aint canada

>>134503345

Veloster a shit

>>134500581
>>134501697
>>134502630
I live in a completely ethnically pure area, you'd have to drive for three hours to nearest city to find a non white. Now you're telling me I've got cheap house prices incoming too so I can realistically buy my own place in a few years. :D. Oh fucking Canada. For all the shit leafs get on pol the fact is I probably have the most ideal life of anyone of this board, sans being not that wealthy.

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yet another nice house in downtown
>built in 1880
counts as a heritage building

prices would hardly change in most places if shit crashed

>>134503577
That's A+ prime land in downtown Montreal, that's a good price actually.

The house is probably a huge fucking Victorian mansion built entirely out of brick with a deep basement.

Go look at Summit Circle atop Mont Royale for fun

>>134503068
>Who the fuck buy a house for a million dollars?

Fucktarded Genx'ers and Chinese money-launderers.

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>>134503690
I'd take the GT86 over the Veloster any day to be honest. I do like like how the Veloster looks though.

>>134504026
>Go look at Summit Circle atop Mont Royale for fun
HA good fucking luck even buying one of those places even if you have 3m+ unless you are ultra elite

man those places are fucking nice I knew someone in high school who lived on the westmount part wtv its called that far up the hill

>>134502488
fucking kekd and kapped

>>134504454
Outremont? That place has some Monster mansions from the 1700/1800s. They were so big they had to divide them into 2 because they were just too fucking big

Summit Circle is 95% Jewish. I think the Tunisian dictator had some house around there too, and Gaddafi's son had a mansion there

>>134504805
>Outremont?
no like westmount proper you just keep walking north till the streets become steep as fuck like dr pentfield and shit

>>134504454
The houses aren't even priced outrageously considering the amount of land you get, the houses are huge 10-30K sq ft and built of solid stone. The interiours are also insane, all high-end luxury finishes

I fucked some Jewess once somewhere in one of those houses, it was insane, I was like how fucking big is your house wtf

Canada, LOL.

>>134505091
Yeah I know exactly what you're talking about, McGill Med's circular building is there right? And the roads are steep as fuck. I parked my car there and was paranoid the ebrake was going to give and my car would roll down and blow up

>>134504127

I had an 86 and drown it in a flash flood :( downgraded to used jag but always loved handling of the 86

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>>134501869
Its the currency crash, the increase of minimal wage in Ontario, which is still going up to $15/h in 2018, and the high prices for garbage houses. It is a storm of shit decisions by shitty liberals. Canada is fucked.

>>134503791
Fucking where?

>>134500581
>Upper Canada was underneath Lower Canada

>>134505110
same ended up making a lot of friends that went to private school holy to many drugs and drinking the most surreal moment was meeting this chicks cousin who lived in fucking MONACO she flew to england daily for school her dad was a billionaire and here we are getting her drunk of 40's big black for shits and giggles
>>134505260
ya but like 15-20 streets west

>>134500581
This really doesn't surprise me considering the fucking retards they have running the province.
Its bad enough living on the east coast but these idiots take it to a whole new level.

>>134500581
I'm oddly okay with this.

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How does this matter? The only people getting fucked are the speculators and people who actually own homes who intend to sell them. None of us own homes ourselves, let's admit, and for those of us/our families that do, most aren't looking to sell right now, so who cares?

The only people fucked in this situation are the idiots who bought a house within the last 2 years thinking that it would continue to go up. Why this affects anyone, I don't know. Unless it's tied in with some 2008-recession-CDO-mortgage-bond shit that I'm not aware of, I am totally okay with this. Especially because I hope to be moving to Toronto soon for law school.

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Turns out (very fucking late) foreign ownership taxes have put a dent in the Chinese money laundering operations that have been bubbling up our housing markets. At the same time, a rise in the CAN prime rate with new tighter lending requirements have cut off about 20% of would-be homebuyers.

You take all of that, and the speculators get scared. It's a perfect storm for Canadian housing.

Thank fuck, because literal shacks have been selling in Vancouver for seven figures. Thanks Chang!

There could be potential good to come of this.
Canada is a country practically run on taxes which is a retarded way to do things.
Maybe once the economy collapses these assholes in government will realize that taxing their people into poverty doesn't work.

>>134500581
When the market crashes the highest priced houses drop first and drop the most, currently living in a 4 million dollar house and it has't dropped one bit. Also planning on selling my 3 bedroom condo for around 900.000 and the agents said I could easily get this. You are basing the crash on the retarded liberal media that is controlled by the government, they want the market to crash because they think the high prices are racist because immigrants cant afford them.

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>>134500581
Saurus for the 1000% increase in foreclosure claim?

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>>134505901
>The only people fucked in this situation are the idiots who bought a house within the last 2 years thinking that it would continue to go up.

Well, that's not entirely true. About 7% of the working population of Canada is employed in some form of the construction industry. When new home starts and renovations for sale collapse, there's going to be an employment disaster in those fields, with knock-on effects in retail, etc.

It's going to hurt.

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We deserve it. God my country has gotten so fucking gay in the last couple years.

>>134506272
Thank fuck I work for an American company that is only affected by the American economy.
The company I work for is doing great, ever since Trump got elected we've been seeing a massive boost to business.
It will be nice watching everything burn around me while these liberal cock suckers start to wonder where they went wrong.

>>134501269
The funny thing is that the housing market is actually stable across most of the country, it's the big cities that are driving this bubble. The people that want to lecture us are already in breadlines. Leftism works fine for them because someone else always ends up having to foot the bill. The more things change, the more they stay the same.

>>134502739
>bubble crashing

>>134506272
Real Estate is $445B of Canada's $1.723T economy. 26%.

Home Renovations alone are 5%. $85B/year.

>>134506272
>employment disaster in those fields
so fuck em its their own fault for picking trades that has the most people in it

you want stable work become a milwright or work in logistics etc etc

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Wasn't it Voltaire who dismissed Canada as "a couple of acres of snow?"

>>134506586
Wasn't it the rest of the civilized world that dismissed Sweden as a "couple of acres of snow filled with daily Muslim rapes and grenade attacks?"

>>134506575
>doesn't get how economics work

A housing crash is going to get ugly for everybody. How ugly it gets will depend on where you are and what you do for a living, but there'll still be effects.

>>134506551
>does get it

>>134501697
Our government allowed in wealthy foreigners who bought up all the prime property in major urban hubs. Now Canadians are unable to purchase property in their own cities, so local governments are enforcing steep taxes on foreign purchasers.

While the price is falling in major hubs, watch as smaller bubbles emerge in the less expensive markets. PEI in particular is welcoming the Chinese with a lucrative citizenship scam known as the Provincial Nomination Program- and they have the second least expensive housing market in Canada. The retarded provincial liberals are doubling down on the Chinese investment, trying to swoon tempt even more of them.

>>134502128
New tax on foreign investors. I'm guessing you own a house in Auckland if you think that's's a fuck up. I would call it an adjustment of prices.

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>>134506744
Consumer Spending is $1.05T of Canada's economy, and almost all of it driven by debt, especially HELOCs.

When the crash starts to accelerate in the fall, and banks start foreclosing and yanking HELOC and LOCs and jacking interest rates as insurance, consumer spending will crash and it will take the entire economy with it. Without people using debt to buy useless shit they don't need, Canada's economy will cease to exist.

>>134506586

That was the French's butthurt attempt to save dignity after having their asses effortlessly kicked by the British and having to cede Quebec

>i-it's just a couple acres of snow
>w-who even cares
>;_;

The Quebecois are annoying because they actually fight to protect their culture, unlike a certain Scandinavian leftist utopia of rape, murder, and random machete attacks

>>134506916
Disregard the swoon, I went full retard for a second.

>>134506744
A housing crash is great for somebody like me. I work in an industry that is primarily affected by the American economy. I'm also only 23 and don't have a home yet so I think I'll hold off another year and wait to buy something dirt cheap from some faggot baby boomer.

>>134506933
I wish I owned property in Auckland but I don't. I'm happy for it to happen here too but isn't dropping like a stone bad for the country as a whole?

>>134507139
forex/trader I take it
>>134506744
bears and bulls dude nothing lasts forever if you don't plan for the future enjoy getting burned

>>134506703

you only make yourself look even more pathetic by getting buttblasted by sweden of all places.

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>>134506916
>Our government allowed in wealthy foreigners who bought up all the prime property in major urban hubs.

That's where your wrong kiddo.
January 2014: Toronto Average, $526K
April 2017: $920K

>Investors
Terminated programs: Federal Immigrant Investor and Entrepreneurs
On June 19, 2014, applications still in the backlog of the federal Immigrant Investor Program and Entrepreneur Program were terminated.

>>134507281
>forex/trader I take it
No I work for an aggregate company. We ship out millions of tons of material a month down south. We occasionally sell locally but 95% of our profits come from the USA.

>>134503068

a fucking idiot who accepted that his whole life will consist of waking up in the morning to go to work to pay for the house his wife use to fuck the guy who mow the lawn everyweek.

>>134500581
It's on the southern bank of the river..... Just because of where the text is placed makes it look bad but if you look at the whole of the city, it makes sense. Stupid leaf can't even critcally think.

>>134503251

I wouldn't pay more than 40k for that and it would have to be in prime condition

>>134503379
CAN'T WAKE UP

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>>134500581
The spirits of the mountain are angered, and soon the frog will eat the sun.

>>134500581
Can you please export your housing crisis to Australia.

>>134507994

No, only niggers and chinks for you

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>>134507994
if diggitz the Ghost of Zyzz will bless Australia with a housing crisis

day of the rake happens before next general election. 18-24 months shit hits the fucking fan.

>>134508214
Thanks senpai. My apartment i rent is currently valued at $1 mil. It has 1 bedroom.

>>134508169
Send help

>>134507588
>used to live in Calgary
>housing market is fucking retarded, refuse to pay for a house there
>dad tried to talk me into buying a condo for a quarter million dollars
>told him to fuck off
>moved to the east coast
>that same amount gets you a big house
I can't understand how people can be so stupid to invest into an inflated housing market.

>>134500581
Why do you care you don't even live here. Lmfao prob from some jealous poo country too. We will never drop down to your famish inducing lows, so stop miring us bitch.

And the lower the sales prices go, so do our property taxes too, so neck yourself with that.

>>134508510
Please go away you fag.
People like you are the reason our country is in such rough shape right now.

>>134500823
We'll merge with your Midwestern states and that's that. East and west coasts can get fucked.

>>134507994
your own fault for living in Sydney, "mate"

>>134508415

You can live like a king in the Maritimes if you're smart enough. Hell, I'm an unambitious shanty-Irish type and even I have several acres of land and a pretty house in a scenic area, plus the neighbours are friendly (and yes they are clannish, but if you stay in the community for more than five years and try to fit in you will be accepted eventually)

>>134508647
True. But im stuck here for the next few years.
Dont really have any other options in Straya.

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>>134500581
South Carolina has a Charleston and North Charleston.

>>134500581
Canada will look like Venezuela by March 2018.

>>134508695
The only problem with the east coast is that you can't make near the amount of money in other provinces. If you come here you really have to have a plan. Luckily I found a well paying job and its working out swell for me.
>and yes they are clannish, but if you stay in the community for more than five years and try to fit in you will be accepted eventually
Yeah I found that. I have been living here for a year now and the locals seem to really like me now.

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>>134508695
>>134509001
The Maritimes are being flooded with 3rd world refugees thanks to Soros. Halifax is like 20% Arab now LOL

>>134508571
I wasn't even talking to you caker. Do you want me to pout about some tiered quarterly housing reviews, these things are constantly change you faggot Canadian.

>>134508902
Unfortunately this is true.
That's why I urge all Canadians who aren't retards to flee into rural areas before we enter the final stages of socialism.

>>134509001
>you can't make near the amount of money in other provinces

Of course, but on the other hand your overhead costs are way lower, so it balances out. Plus it's super-easy to get enough land to grow your own vegetables and raise your own meat animals in your spare time.

> I have been living here for a year now and the locals seem to really like me now.

After my first (unusually harsh) winter here the well-meaning lady at the general store said, "so you've seen what it's like. I guess you'll be leaving now?" That was seventeen years ago.

>>134501697
The budget balancing itself

>>134509171
>Halifax
Halifax was always a shitty place to live filled with Africans. If you go past Antigonish county in Nova Scotia the most you'll see is the occasional Asian tourist and natives.

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if only we had Bernier instead of FUCKING SCHEER REEEEEEEEEEEE

>>134509171
LMAO

>>134509171
>The Maritimes are being flooded with 3rd world refugees thanks to Soros. Halifax is like 20% Arab now LOL

You're pointing out a serious problem, but 1) Halifax is still 90+% white (for now) and 2) I live about three hours' drive away from that city in a remote, rural area, so I'm not likely to experience "enrichment" for myself anytime soon.

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>>134509417
He fucked with Dairy Farmers and Supply Management. They ended up registering tens of thousands of new CPC memberships and all voted against him.

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>>134500581

Canada might fall sooner then Sweden. Which is quite the accomplishment.

[Archives: http://archive.4plebs.org/_/search/subject/knowledge%20bomb/username/anonymous5/tripcode/%21%219O2tecpDHQ6/]

Islamist's are setting up shop & "Multicultural/Diversity" is causing everything to collapse.

>>134509304
>winter
Holy fuck tell me about it. I just worked through the winter and I have to work outside and it was fucking miserable. It does technically get colder out west but the chill from the wind and humidity cuts right through you. I'd take that over living in Calgary any day though.

>>134507432
https://www.princeedwardisland.ca/en/information/office-immigration/pei-express-entry

Implying there's only one program facilitating the laundering of their dirty communist money

>>134509507
>I live about three hours' drive away from that city in a remote, rural area
You might live very close to me.
Cape Breton I presume?

>>134509368
>Halifax was always a shitty place to live filled with Africans

Always since when? In the late 90s I lived in a low-income apartment block in Cowie Hill (i.e., Spryfield) where the occasional gang murder or two would take place, and everyone in the building was white. Maybe it's different now, but at that time the black population of Halifax was no greater than five percent, and non-Native minorities were practically non-existent in Nova Scotia outside the borders of the Halifax Regional Municipality.

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>>134509745
>Syrian refugees to arrive in small Cape Breton community by Monday

KEKED

>>134509646
Lmao so you live in the Maritimes but are commenting around a property price crash thread?? Maritime prices (like salaries) change once every fifteen years. Property prices are only fluctuating near and in large to medium large cities. Lol I'm 21 and I know more than your old fag moving across Canada ass.

>>134509529

Elaborate anon5.

>>134509745
>You might live very close to me.
>Cape Breton I presume?

Yes sir, Inverness County though, not the CBRM.

>>134509914

The Syrians in Marion Bridge already fucked off to Toronto as I recall

>>134510039

You're missing the point, son. Your wisers and betters are telling you that, if you're going to go to work just so that you can end up in debt up to your eyeballs in order to cover your mortgage, why not stay in (or move to) a small town and work at a lesser-paying job so that you can easily afford a far superior house and property?

>>134510064
>Inverness County
That's pretty fucking cool.
I've probably seen you around before if you've ever done any shopping in Hawkesbury.
Didn't think there were any Cape Bretonfags on here.

>>134509529
Fuck off Frank

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>>134500581

>Quick Rundown

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

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>>134500581
>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

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>>134500581
>Why a low delinquency rate isn’t the good news real estate story you think

>Low delinquency rates are not an indicator of financial health among households or the economy. Quite the opposite, writes insolvency expert Scott Terrio.

In this way, low delinquency rates are in no way an indicator of financial health among households and the economy. Indeed, the delinquency rate on mortgages in the U.S. reached its lowest level in decades in 2005, precisely when the U.S. housing bubble was at its frothiest and money was easy to borrow. Likewise, mortgage arrears in Ontario just reached their lowest level since 1990, the year Toronto’s last housing bubble popped. In that real estate crash, prices fell close to 40 per cent and took until 2010 to fully recover, after adjusting for inflation.

http://www.macleans.ca/opinion/why-a-low-delinquency-rate-isnt-the-good-news-real-estate-story-you-think/

>>134510381
I'm not arguing about lifestyle decisions, I'm just pointing out what a dope that commentor is. He's talking doom and gloom and he's in the fucking Maritimes. I said things will bounce back and he said it was thanks to people like me that we got into this small mess.

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>>134506494
>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.

>>134511282
Clickbaiters into archive https://archive.is/kibwc

>>134511305
Do you ever fucking sleep?

http://www.cbc.ca/news/world/minnesota-police-shooting-woman-911-call-probe-1.4208971

>>134510991
>things will bounce back
Please elaborate.
Canada has practically no industry anymore and the liberals continue to tax everyone into oblivion.
You can't argue that we aren't in the final stages of socialism right now.

>>134500740
>nuflag

Nufag

>>134511383
As in before this minor downturn things were looking rather rosy. In the cities it is hardly as dysfunctional as it might be in the rural regions. Service industry is the future, all cutting edge companies provide a product and sell it. Who the fuck wants Canada to open up coal companies, steel, copper smelts etc. Lul village caker. Third world countries provide the raw materials and first world countries develop high tech products with it worth 600 dollars every 200 grams. Ala Japan.

>>134511383
I can't believe the chinks were stupid enough to trust us with money desu

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t. 67.5% of Canadian mortgages are subprime.

>>134512020
>Service industry is the future, all cutting edge companies provide a product and sell it.
I would understand your sentiment but you do realize that Canada hardly manufactures anything anymore, right? Especially now with the liberals in Ontario scaring business away.
Also I really can't understand the hate for raw materials. If you have it there why wouldn't you monetize on it? It doesn't make any sense. I recognize that they shouldn't be a primary industry but if the resources are there you might as well utilize them.
The main problem with our country right now is that the overhead costs are getting so ridiculous that nobody wants to open up business here. It has nothing to do with housing bubbles. If you had someone with a brain in their head running government this wouldn't even be an issue. Example is Ralph Klein when he was in power in Alberta. That man took power during a recession and still managed to balance the books.

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>>134512020
$600 every 200 grams? What?

>>134510592
>if you've ever done any shopping in Hawkesbury.

My wife usually does the shopping in PH, but on occasion I will visit Superstore or Giant Tiger there in search of a deal

>>134512020
>Third world countries provide the raw materials and first world countries develop high tech products with it
no.
raw materials are sourced from the most economical deposits. you know nothing about mining

>>134512542
it's what an iphone or another high-end consumer gadget costs you chink faggot

Remember the Path of Light, leafs

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>>134512930
I think what he meant is that a lot of Third World countries, like Canada, have a shitload of natural resources and all they really are Hewers of Wood and Drawers of Water.

>Nestlé Canada currently has permits that allow it to extract up to 4.7m litres of water a day from sources in Ontario. On its website, the company noted that its latest acquisition – the well also sought by Centre Wellington – would be a source to supplement other operations in the region, as well as support future business growth.

>The province currently charges C$3.71 for every million litres of water, along with a permit fee of up to C$3,000 depending on the risk of environmental impact.

Draw 4.7M of water $17.44/day, make 9.4M 500mL water bottles. Sell each for $3, $14.1M/day, $5,145M/year for $6,356 in fees. Profit margin = 80,947,136%

This is how fucking stupid Canada is

https://www.theguardian.com/world/2016/sep/24/canada-nestle-water-well-bid-centre-wellington
>Archive it, Norg

>>134513532

Our government hates us. What other rational explanation can there be?

>>134513737

Our Democracy is actually a Corporatocracy or perhaps a Plutocracy. Everything is faked and we don't even realize it.


>>134510644
>>134510679
>>134510735
Thanks for clearing that up

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>>134513737
Think.

>>134509914
there's nothing wrong with sponsoring a family of refugees fleeing their shithole country. don't conflate that with the overall migrant issue (military aged males flooding into europe wreaking havok)
I hate islam as much as the next faggot, but shitting on this is a complete joke.

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>>134515376
>Fleeing their shithole country
They can easily go to a neighbouring Muslim country, but they get no gibs.

The (((Syrian Refugee))) is a Soros-invented umbrella under which any 3rd world economic migrant shitskin can mask themselves under and claim (((asylum))) in a European country, usually Germany or Sweden since they have the best gibs.

Here are some hard facts.

On the 6th anniversary, approximately 400K have died directly from the war; approximately 300K are soldiers, with 100K civilians.

Syria had a population of about 21M at the outbreak of the war. Assuming a natural 1% mortality rate, that's 210,0000 deaths a year.

100K civilian deaths over 6 years = 16.6K/year. When factored into the normal death rate, is an increase of 8%/year in the natural death rate.

This is fuck all. Fleeing a country because your actual life is in danger is one thing. Fleeing a country because you can earn more money but parasiting off another society to up your living standards is something completely different.

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>>134500581
>$2M houses are now selling for less than a million. Foreclosures up 1000%.

Wew.

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>>134502948
Hihihihihihi!

>>134506272
>When new home starts and renovations for sale collapse, there's going to be an employment disaster in those fields

Why the fuck would renovations collapse when houses become much cheaper?

Any potential buyer now has a bigger margin for repairs.

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>>134516469
Home Renovations comprise 5% of Canadian GDP.

5%.

$85B of $1,723B.

>>134516575

Alright. Now explain how making housing more affordable decreases the incentive and money available to fix up houses.

Seems like it would be a wash or even the inverse.

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>>134503251
That looks like a piece of shit that you'd only buy if you're desperate.

>>134500581
>one is north of the river
>one is south of the river

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>>134516260
Listen Goy, one day I was trading gold (0.5% of entire COMEX daily volume, 800 contracts). Up $20,000 for the day. Was waiting for a major spike. Am long 10 COMEX (1,000 oz / 62.5lbs) contracts into Asia, Tokyo opens nothing exciting. Shanghai et al open, nothing. Fucking haven't slept in 48 hours. Waiting for a $20+ USD spike.

My analysis shows a sharp spike coming up as shorts get squeezed. Run tight stops. My stops keep getting blown over and over (gee I wonder (((which))) central banks are shorting gold). So tired I'm about to die. Didn't want to get blown up while napping; close positions.

>Take turbo nap until Euro session

Wake up, GOLD UP FUCKING $30!!!!!!!!!!!! Spiked hard at London open and kept skyrocketing

t. The $30,000 USD nap.

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>>134517028
>15 year housing bubble
>Assuming any house doesn't have top of the line renos

Demand will be swell I'm sure when every house has ultra-luxury furnishings

>>134508819
Maybe you can move here and get shot by a somali, m8.

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>>134500581
What's fun also is that Canada is starting to try and reclaim the money they paid out to people who got tax refunds.

I got my dad with MS on disability, and a little brother with autism.
Government wants all $7000+ CDN back that we got back in April.

Welp, at least the Refugees will be about to afford Lambos.

Please... Annex Alberta, just so we can have real guns again. We have resources and land!

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>>134517577
On what grounds are they asking for the funds?

>>134517906
Apparently they feel that MS is a a illness that disappears in 7 years.
And that Autism also cures itself once the child hits 9.
God I hate my country.

>>134517577
>>134518207
That sounds pretty desperate

>>134518207
>God I hate my country.
Your politicians aren't your country.

>>134518350
What makes it even more shit is that I can't find any fucking work myself cause all the workplaces are pulling the "Diversity >>> Skills and Work Ethic" shit.

It's Horse Shit that a guy that got Honor's Role 2 years in High school can't even get a Call back from a fucking McDonald's cause he is neither Gay, Muslim, Hindu, or Vagina.

>>134500581
Full of shit. It hasn't even started yet. You'll know when it's here

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>>134518207
What?

My aunt has MS. She can't walk properly due to the leg thing. She lives in /pol/'s favourite country, but they provide everything she needs for maximum QOL. MS is fucking permanent? How can they claim it disappears?

>>134500823
Fuck off. Alberta is a sovereign land. Surrounded by fucking gooks, niggers, lysol spooks, and white race traitors. Then on top of that we got Mudslime and Jews on the inside. I'll be damned if we're gonna like (((Greatest Ally))) join the fucking party

>>134518917
Omar Khadr is your compatriot, cuck.

>>134501499
Because when your fellow citizens, who have been borrowing and spending beyond their means, default on their loan payments, which they took out *before* the crash, all that debt comes back to the bank. The Jews don't bear the burden, because speculative kikes gonna kike. So the (((government))) bails them out by allowing the printing of more money, and this whole time taxpayers are literally starving and homeless. Really the government doesn't allow them to print more, they just do. That's what happens when you don't have state owned banks. Think for a change.

>>134518906
Cause apparently the last diagnosis as done on March 25th 2017. (No change in condition for 6 years)
They kept pulling this shit 4 years ago.
But I guess now the diagnosis has to be done in the same room as your taxes now.

Sure am glad to live in Nova Scotia.

It's like the scenic overlook where I can comfortably watch the rest of the country fall apart.

>>134502556
You are forgetting (((something)))

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>>134500581


ALL I WANT TO KNOW IS WHAT DOES OBAMA LEAF HAVE TO SAY ABOUT ALL THIS?

WHERE IS OBAMA LEAF?

>>134519104
I'll see you in the camps, Nigger

>>134518678
mcdonalds doesnt look at your grades dipshit, they care whether or not you're an autist or fucking weird in the interview

if you cant get a call back it means they dont need to hire right now probably beause they are replaceing a bunch of their staff with kiosks

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cant wait!!!

what about oz? or does oz hide their failures?

>>134519193
Get a good personal injury lawyer and sue out your benefits. Very simple to do.

Jesus, how could a cuck pay almost a million bucks to live in fucking Toronto? Watching the documentary footage which is old episodes of the original 80's Degrassi Junior High, Toronto looked like some shit tier Burger city like Schenectady or shit, full of stupid stoner hosers, bland landscape, and other unpleasantness.

Fucking Leafs are cucked between that and Vancouver Chinatown.

>>134503068
chinks

>>134519320
He's probably pissed that all his daddy's investments are gonna go tits up and he'll have to move back to mainland China.

>>134519337
I only hand in resumes to places with "Now Hiring" signs up.

>>134519545
Lawyers around my area can only play the "oppressed victim" card.
Family is Anglo, Lawyer fees are Jewish Hall of Cost prices for better than "but muh client is good! look at it's melanin"

>>134519619
The connected Chinks related to party members that is. 99 percent of China is dirt poor peasantry, and the rich oligarchs get a cut of all the action made by some fraction of a percent that have capital.

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>>134519872
You never hire a lawyer that isn't a Jew, all /pol/ memes aside.

Second, if you can prove a quantum of damages, let the kike firm handle it.

Most work off contingency bases, especially for personal injury.

Make a few calls.

>>134520035
Personal Injury?
We're talking about an illness that comes from Vitamin D deficiency and fucks the mylien sheaths of nerves.
It didn't come from work.
And the area I live in Canada sees MS cases as 50 cases to 1 compared to the rest of Canada.

>>134520315
So you have many people to sue for causing your dad's MS.

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>>134519867


Haven't heard from OBAMA leaf in a long time...

Poor lad probably hanged himself as he lost most of his "wealth" in the housing market crash.

>>134510644


Holy......fucking....shit.

You guys are in the same boat as we are.

I just didn't now it was THAT bad........The only ones that make a shit ton of money have been those who have sold the houses to the idiots willing to buy them.....

>>134510679


Nice. Thanks for this info.

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>>134520852
Keep in mind Cuckdeau ordered Morneau (Canadian Finance Minister) to kick back a $4B dividend from the CMHC to the Federal coffers.

So now the CMHC has just $16B in equity yet $950B in liabilities, a 60:1 ratio.

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>>134521034


Damn.... It's going to get interesting soon....

Let's see what happens.

CAD worth half of the USD when?

>>134503381
>5000 sqft
That's massive
Also $200/sqft in a city isn't horrendous.

>>134503251
what. the. fuck. Canada is literally going to start the next global economic crisis with these horribly overpriced homes.

>>134506272
Thank god
Fuck toronto

>>134522468
This has been posted in every thread, suspicious as fuck.

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>>134500581
waiting for that crash! hoping to buy some prime forest land soon so I can do whatever the fuck I want on my property without being reported to the horse gestapo
I just hope I can get some BTC investments running me some big money by then. my trial run with 200 maplebux netted me +25% on the last dip after waiting 4 days to sell and judging by 24hr volume it's going to drop again soon so I'll need to be ready to buy when it bottoms out again.
I have $14.5K after buying my car so I hope I can at least use a couple thousand and make my wendy's bi-weekly pay in a week or 2 and double my income.

I'm pretty shit at my job despite trying really hard but I figure I can

>Mfw Cuckada's currency and economy falls so hard that the US annexes everything west of Thunder Bay leaving them the cucks.

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>>134503504
so you're saying that If I literally just mine my way 100 feet down and really far across then I can literally 'Italian Job' a quarter trillion dollars worth of gold?
going by my knowledge of mining I feel like this is actually a feasible plan that can be accomplished for under $1 million

>>134509529
>Canada might fall sooner then Sweden. Which is quite the accomplishment.
no fucking way, nigger

>>134500581
I think Jews run Leaf economy too.Toronto has plenty of Jew Bankers

Businesses and people will be forced to innovate.

Economic destitution is achshually relly good for environment. Think how much your carbon foot print will be reduced once you finally can no longer afford food or shelter..

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>>134509529
I don't care what anyone says you're a pretty half decent Tripfag.

>>134502102
Kek

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>>134501894
>WHERE OUR MONEY LAOWAI DOG

GIVE BACK THE MONEY CUBAN BASTARD

>>134500740
May Trudaludidoo will let you have one last suck of his tiny cock for survival, savor the protein.

>>134503381
Cute house. It'd be less than 100k here in my comfy Florida beach town.

>>134502948
BUH TEH BUHGET WHILL BALANS ISSELFF

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>>134500581
It happens because of immigration. Our housing market crash a few years ago didn't happen just because of retarded, shortsighted Jews, it happened because Mexicans. Higher demand drives up prices, and immigration drives up demand.

Leftist open boarder cucks and illegals eternally blown the fuck out.

>>134506491
They dont have any real insight or the ability to reflect so you may be waiting forever to see anything like that from liberals

>>134511282
>Canada's financial system and banks didn't crash in 2008

Becuase you faggots got a bailout and just called it a stimulus so you could pretend you were better off in the global economy. You leafs are retarded

>>134511305
Thanks norgebro. Doing God's work

>>134500581
image made me lol

>>134519248
Nova scotia is full of rejects and niggers

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>>134525369
>horse gestapo
Kekd

>>134507012
At one point after that war, the british offered to return all of conquered New France in exchange for Haiti. France said no.

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bump

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Mfw reading this thread

>>134500581
Finally I can buy a house, $300,000 for 2,500 square feet and 30 acres of land is murder!

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>>134503251
>two million dollars
>for this tiny-ass house

what
the
fuck

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>>134507994
It'll happen. This is 08 pt 2.

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>>134520526
please update your meme

>>134503577
I lived there, after QC tax, the price is the same. Support greedy homeowners, or bloated province.

>>134540493
Bring it on

Watching the boomers turbofag kiiery blowup will be epic.

I even own my own home and don't care if I default. Sure I might have a black credit rating for 7 years but better than to lose more than 7 years worth of income.

>>134525943
>leaf thinks he can just drill a 100 feet down in Manhattan without taking out multiple cable/pipe lines (not to mention the subway) and drawing a bunch of attention to himself

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>>134545403
leafs openly fantasize online as a means to reach a state of catharsis.

>>134518917
Alberta isn't a prairie province, you guys are practically California with a rodeo clown fetish

>>134534516
Stay mad potatonigger

>>134545840
And 8 months of snow

>>134506207
The high prices are racist because Canadians can't afford them while pajeets buy them and live with their entire extended family

>>134545840

That's British Columbia, champ.

>>134517577
Can confirm. I have friends going through this insanity right now.

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>>134521644
That's for the lot not the house. The house is maybe 1,000 sq ft max

>>134506207
t. paid government shill

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>>134550538
When you've detected perception management being employed you know things are bad. look at the old Home Capital threads on /pol. The shills were thick as valley mist, then the thing they said wouldn't happen happened.

>>134513532
I talked to a friend about this. The reason water is sold so cheap is because if we sell it for anymore it becomes defined as a commodity according to the world trade organization, which means you have to keep selling it to the US even when we have our own water shortages.

>>134517577
Which province

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tfw canada won't exist by 2100