CANADA YES! Leaf Real Estate crashing and burning

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>>134556373
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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>>134556373
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

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>>134556373
>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 Rakening is upon us

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>>134556373
>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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>>134556373
>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.

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t. 67.5% of Canadian mortgages are subprime.

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B-But r/canada told me it wouldn't happen?!!!

>>134556628
>Anything over $300000 for a house that tiny in a shitty city
This crash was needed.

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How can this be happening if they told us it couldn't happen? everyone on reddit and the cbc comment sections month ago said it was impossible.

But is it literally happenning. But they said it couldn't. REEEEEE

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>That house will go up in value $700 per day they said
>More money than you could make starting a business they said
>only a moron would turn down free money they said.

>>134556373
Expect more chinks buying your real estate to speculate

>>134556907
Source on picture?

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Another housecuck BTFO

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>>134560362
Lost 30%+ in 70 days

>>134560349
It's my wife, we do make BBC cuckolding videos and sell them online to help pay the mortgage.

She's a stay at home wife so nobody really sees her.

Is Toronto not just a totally unremarkable and forgettable city? Why do leaf politicians deny Chinese colonization when it's $900k for a house that here would be $100k?

>>134560507
Give me the free sample trailers, I'm very small and don't last long

>>134556373
I don't see a problem with that curve, as of now it looks like a healthy correction, nothing unusual.
If it doesn't rebound, though..

obamaleaf btfo

>>134560864

this will break his mind even further.

>>134556664
>1.5 million dollars for a two bedroom.
They deserve it. Fucking boomer behavior
>XD it'll keep rising for ever! Well be riiiiiccchhhhh

>>134560798
>Kraut threat analysis

Holy shit, do you even have a fight or flight response? Do they just surgically remove Germans hindbrains at birth? How can you not recognize a catastrophe when it's right in front of you?

>>134561022
I don't know how much more he can descent into madness

Chinks btfo

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Time to short Canadian currency

At least you guys have a part-time ski instructor and former substitute drama teacher as Prime Minister.

>>134556373
How will all this effect the housing market in the US? Are we isolated from these prices drops?

>>134561579
I'd be more worried about considering Canada in concert with Australia. I'm not particularly convinced that Canada coming undone would set off a global happening, but when there are enough localized happenings at once then you have to worry about epidemic -> pandemic.

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>>134561212
>I don't know how much more he can descent into madness

We will see though. We will see the limits of his madness play out across /pol.

>>134561737
Do US bank mortgage backed securities have exposure in Canada? That would seem a reasonable question for US contagion but I'm not an expert

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>>134561160
What is so difficult to see about it, mong sherlock??
I make money on WS with the exact mix of paranoia and greed you express every day.
It's probably a good time to invest soon, dumbo.

>>134562105
Good question. I'm not in a position to really know, but I haven't heard anything about a dangerous amount of exposure.

If we were living in rational days I would ask who would want to invest in Canadian real estate loans. But you never know.

>>134561160
What now faggot, question your perception and you will make money on those markets.
Hindsight out

Good

Fuck boomers and Fuck landkikes

>>134562189
>drawing a trend line through the sample of data that are the outliers

trying drawing a trendline from 2001 on wards. It's at approximately 400-450K. And crashes always overshoot

If Canada starts a financial chain reaction crashing the US and then worldwide markets then I'll worship leafs forever. If not I give 0 fucks

>>134563020
If he has a trader mentality and the ability to just push buttons in and out then it's not an unreasonable view.

But for the normies it's a different game, since they're the ones who have to lose in order for the traders to win.

>>134556628
Good the chinks buying up all the property might actually lose money. Still worth more than any investment they could make in China.

>>134556373
>Chinese buy a bunch of over priced property just before the housing bubble bursts
>Average Canadians can afford a house again
>a bad thing

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>>134563376
>muh chinese

>Nearly 5 per cent of homes sold in the Golden Horseshoe region were purchased by foreign buyers, according to a month’s worth of new data from the Ontario government that reveals the role international investors have played in the area’s overheated real estate market.

How do i profit from this?
Is there a 3x inverse canadian housing etf?

>>134564029
Start one so you can scoop the profits anyway while you're front running it.

>>134556804
Did they learn nothing from 2008?

>>134556831
this is good since they were so high

also deus vult i'm a stupid christcuck

>>134556373
When's our turn?

>>134565279
You burned it the fuck down, ass. And now you have the nerve to brexit?

Ask not for whom the bell tolls; it tolls for thee.

>>134563906
>Average Canadians can afford a house again

ayy lmao. They'll just bail out the banks and let even more foreigners buy property while they increase immigrants and TFWs, all to inflate demand and justify even higher prices.

>>134556373
How will this affect China?

>>134565665
Nah it's overinflated, I'm waiting for the crash to buy a property.

>>134566133
It will lurch to the side and begin to tip into the sea. The benefit here is that acres of dust from the Gobi will land in Japan instead of choking off the ching chongs who didn't fall over and drown.

>>134559295

Good hope all those fucking SJW faggots become homless and get shanked by a crack dealer.

>>134556373
Oh noes we're back to January 2017 pricing lol. Only 6 months ago. Let me know when we're back to 2014 pricing.

>>134556628
almost $2 million for that holy fuck

>>134556373
This is going to suck, but we need it.
The housing market was getting way out of hand, a crash was coming soon, and the sooner we get it over with the better. The bigger the market expands, the worse the crash is.

Granted it expanded FAR too much, and should have crashed far sooner, but at least its finally happening now.

>>134566915
I think that's Canadian Dollaru... right?

>>134564100
Calling Dr. Burry

>>134566915
>comfy bush
>lace curtains
>chimney already sleeved

You don't know what you're missing

>>134567011
moar liek wood burry amirite

>>134556628
buwahaha $2m for that fucking shack? yeah, naw... something ain't right.

>>134567280
IT HAS A NEW HOMEDEPOT DOOR AND A STORM DOOR FAGGOT IT PROBABLY HAS AT LEAST AN 80% EFFICIENT FURNACE

Canada will be the new Sweden in no time, together with the UK.

And nothing of value is lost hehe

>>134556373
For any smart and finnacially savvy leaf this is a golden opportunity.

When the market is bearish - be a bull.

>>134567667
>For any true scotmans this is a golden opportunity.

>>134556373

Why do people panic when sale prices go down?

That's good for the consumer, isn't it?

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>>134563906
An average leaf cannot afford to buy a house still... Also the houses are shit
>well at least it's $750000 for an 80 y/o cuck shed filled with asbestos instead of $1mil

>>134567667
ever heard the adage "dont catch a falling knife" ? that applies here. Prices always fall faster than they rise. might as well wait until things bottom out.

>>134567741
>Why do people panic when sale prices go down?

they were told it coudn't happen. check the /pol archives you can even find leafs denying this would happen and insulting those who said it would.

>>134559571
Man I love reddit economics.
>Yea this $1 million shed totally isn't overvalued
>No way the price will go down
>People totally want to buy houses that aren't even worth $200k for over $1 million

>>134567741

Ever heard of this concept in economics called margin. Most houses are paid for at margin. usually 10-20% when a price falls below the amount of margin held by the buyer the boyer is required to come up with the excess and when they can't they're forcesd to sell thus causing housing prices to fall even faster.

Basically Canada is fucked.

>>134567794
Not necessarily true. The S&P rebounded at like 25% a year after the crash in 08

Anyways, you can't predict exactly what the price floor will be after this, which is exactly why you shouldn't fear the falling knife

>>134566160
>Nah it's overinflated, I'm waiting for the crash to buy a property

Yea, you and every other millenial faggot which is why it wont happen.

Back in the 90s...
>"oh hey im gonna hold on to these baseball cards because the cards from my grandpas house from the 50s are worth hundreds now.

>Every dipshit millenial hoards their ken griffey Jr rookie card
>Fast forward to 2005
"Hey why aren't my baseball cards worth anything!"

>>134556831
This is so fucking stupid though, I dony know anyone who hasnt negotiated a fixed rate mortage?

>>134556373
lets hope the chinks are losing tons of money on this

>>134556373
didn't your prime minister donate $20,000,000 of taxpayer money to Clinton's campaign via an interest group?

top kek

>>134568160
Leaf housing markets are super dumb.

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>>134567741
Because 95% of people buy houses using mortgages ie on margin. Downpayments of 5% = 20:1, 10% = 10:1, 20% = 5:1.

Canadian mortgages have to be renewed every 2-5 years on average, so if your house is worth less than your mortgage (margin loan), the bank will do a margin call and if you can't put down a few hundred grand cash you get foreclosed on, lose the house and the government chases you until you die for any loss the bank incurs.

>>134568160
It's almost like in 2008 everybody with a few spare brain cells was telling people to avoid adjustable rates at all costs.

>>134568141
Most millennials can't afford houses at current valuations anyway so they might as well wait for them to come down.

>>134567888

Even the Soviets were not dumb enough to believe that the economy could not change, especially when their promised rations were cut.

Why would the Canucks believe that the market can't have bad years?

>>134568042

Nah, I'm a libertarian who occasionally invests in my retirement account and am probably buying my house from family in an arranged fashion, I'm not really good at understanding real estate (though I'm trying to learn because regulations and economics seem a bit...complicated).

>>134556373
What is the average leaf wage in Tonto?

>>134559571
I wonder how it will bounce back or if it even will.

>>134568282
I dont think you get it.... plenty of boomer cash to keep housing propped up indefinitely

>>134568291
>Why would the Canucks believe that the market can't have bad years?

they believe in the literal reality of the female penis too..

>>134556628
It should be illegal for gooks to buy property in non-native countries, especially if they don't even live in that country.

I'm all about 'muh freemarket', but this kind of legislation is needed.

>>134568160
Mortgage terms are 2-5 years then you have to renew. There's no such thing as locking in a 30 year fixed mortgage in Canada. The max is 10 years and then the bank will charge you double the interest rate.

>>134568380
Do you even read the thread?

>>134568295
$29K is average Leaf wage

In Toronto probably $35K

Leaf wages (skilled professions) are 1/3 of US wages

>>134568160
Can you actually lock in a fixed rate in the US for the full term of the loan?

fucking awesome. Now I just need the Hongcouver housing market to crash and burn

>>134568380
Except boomers all plan on selling to fund their retirement in Florida, which will flood the market

>>134568645
yes most US mortgages are fixed 30 years and you can prepay anytime without penalty.

>>134568696
Not if gooks don't buy up all the beachside property in Florida first.

>>134568593
talking US faggot, cucknadia is chinese ghost money

>>134568612
Cheers anon, going by those numbers the average house price should be 105,000 in toronto.
So the housing market still needs to drop 650,000 leafbucks off of the average house so the average leaf can afford. Foriegn investment absolutely out prices the locals.

>>134556804
Thanks for explaining. Glad I'm still renting

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>>134569105
Ben "Shalom" the Leaf Slayer

>>134568769
How does that even work? The bank would be taking the bet the rates are going to go up and set the rate fucking high as hell, why would you fix rate, ever? 3 decades is a long fucking time for the banks to willingly fuck themselves, no wonder burger banks foreclose on everyone.

>>134556804
wasn't the american mortgage insurancy industry only leveraged to like 20:1 in the 08 crash?

why haven't the canadacucks learned anything from their neighbor down south?

>>134569416
The Jewish banks with free gibs from the fed will never go under except in extreme cases like when they had to slaughter Lehman.

The little guys? They get saddled with impossible debt and then the FDIC steps in and they get merged into the big banks. It's pretty simple m8.

>>134568769

I had no idea that wasn't how it worked in Canada.

On a scale of 1-10, how bad are you guys fucked if the housing market doesn't rebound quickly?

>>134569430
not only did we not learn. we doubled down

>>134556804
they wont fuck with the loonie, they will open the market up entirely to china, including allowing the chinese government to buy property.

>>134556373
Chinks will get the real estate for pennies and cancucks are left holding the bag. Good luck, leafs. You are fucked.

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>>134569105
It's not foreign "investment". The Chink meme really needs to stop. Less than 5% of homes purchased are by foreigners, 95% are Canadians.

The bubble built over approximately 15 years, from 2002 onwards. After the stock market crash, people didn't want to invest in stocks or bonds (shit yields), so they bought houses. Canadians saw the US market booming, and started buying up real estate in a frenzy. CMHC insurance restrictions were loosened from 10% down, 25 year amortizations, to 30, then 35, then 40, and there was even talk of 50 or perpetual mortgages (intergenerational). Downpayments were reduced from 10%, to 5%, to 0%, and went as low as -7% (7% cashback, 107% LTVs). The banks didn't care because they forced the homecuck to buy CMHC mortgage insurance, so they had 0 risk if the homecuck defaulted.

Now this bubble inflated up until the financial crisis in 2008, and values crashed, the banks went insolvent. Harper bailed out the banks and took the toxic mortgages off their books, so they didn't have to foreclose and sell the houses on the open market (see >>134556907). So the cuckshacks never hit the market and the bubble was pumped full of steroids.

Then it kept going, fueled primarily by low yields and easy credit. Those that got in at the beginning of the bubble have ridden to the top, ie. they got in with their cuck salaries and have amassed vast paper wealth. Most of the home resale activity is people moving around buying a new house with their paper equity they've amassed and then selling their home.

However, now that the bubble has blown up, people are trying to get out, especially people who bought in the last few years. Even the ones that rode it all the way are fucked because they just used their home equity as an ATM to buy $80K audis, $60K kitchens, $20K gardens, $20K family vacations, etc. The entire Canadian economy is based on home equity spending/credit lines, which is why Canada is utterly and completely fucked.

>>134570078
If you single down, it wins!

>>134556373
More like "bubble prices correcting to reasonable value".

>>134556373
Dude weedman economy. I'm willing to be libs are going to ignore this and elect him again.

>>134570054
11.
They are in the process of losing their real estate to mudslimes and chinks. Royally fucked.

>>134570123
the chink meme is real

it's 5% that is the meme

they may own 5% of all households, but they are not 5% of current purchasers.

>>134569416

I think my folks paid off their 30 year in like 7-8 years, though. Not like you have to do the minimum payment for decades.

It's a risk, bank may not be making as much on people who lock in at a lower rate than the current one, but they're also making more than they would on folks who locked in when rates were higher than they currently are. The system is obviously designed so they come out ahead more often than not.

>>134570298
Chinks engineered it on cancucks.

>>134569740
How did americans get capitalism so fucking wrong? I thought it was their thing... All these burger libertarians and commie shitposters are starting to make sense.

So basically, this is only really a problem for people who bought overpriced houses in the first place, right?

If you bought, say, a $30K house, the odds of you going upside down on that would be rather low, especially if your down payment was high, right?

I know Canada/Euro way overprices property (Euro especially), but the logic stands, right?

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>>134570109
>>134570298
>>134569100
>>134568422
>>134566133

Yes
>muh Chinese

Holy fuck, I just realized, Canadians are just Chinese Reptillian Shapeshifting Millionaire Property Tycoons. They hide their normal Chinese gook appearances via their shapeshifting powers.

>time for your anti-psychotics

And you do realize the Chinese meme is perpetuated by realtors to get retards to buy? "Prices can never go down, just think how many Chinese millionaires there are in China! Millions! And they will always buy Canadian houses. So sign the line, get (((rich))), goyim!"

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>>134570697
>So
>right?

Jesus christ.

>>134570123
Fuck that's so true. Just got done paying off a mortgage and the banks were trying to shove the idea of getting a home equity loan down my throat. A lot of people I know are becoming nolife wage slaves while getting new audis and cottages.

>>134570123
>chink has family in Canada
>gives them money to buy multiple properties
>its counted as being purchased by a Canadian.

They do this all the time. Its why they send their kids to university here cause you can use a student visa as a way to eventually get citizenship.

Vancouver has many multi million dollar properties owned by Chinese "students"

>>134570513
It's been a long, tough road. If you really want to know, I would say have a read through "The Creature from Jekyll Island" by G. Edward Griffen. We've been in a continual process of trying to fight off the foreign bankers since before declaring independence from the Empire.

But that's not all. As with everything finance, it's all about information arbitrage. So we got all these Prussian mind control techniques to destroy the minds of the children (cf. kindergarten aka child garden) and then importing all the Jews, the Pavlovian, funding the Skinnerian. Satanic Skull & Bones. It would take all day for me to outline it all.

It's a sad thing, but it seems to be turning around a bit. The upshot is that the internet provides for a way to end-run the established control over information.

>>134570298
Canada really is looking more like a backwards cold australia. At lease we haven't gone full retard on our lgbt shit yet.

>>134556804
What does this have to do with Trudeau selling all canuck gold reserves?

>>134556628
>2 mil for that shitshack JUST because it's in Toronto

>>134556373
So basically a lot of Chinese people will lose their savings and the average leaf might actually be able to afford something better than a trailer?

>>134570855
>>134570749
and if you think I;m making shit up, you;d be wrong.

https://www.theglobeandmail.com/news/british-columbia/incomeless-students-spent-57-million-on-vancouver-homes-in-past-two-years/article31892652/

>>134570697
>30k house

That's called a trailer, Cletus.

>>134570951
2mil despite it being in Toronto. Who wants to live in Snow Mexico?

>>134570951
muh first class city.
muh new york of canada.

Face it torontocucks. You got kiked.

>>134570998
Here's hoping it wipes out some boomers too.

>>134570393
More people are going to buy when interest rates are low than when high.
I cant actually see the banks winning here, and if people pay out early the banks still lose.

>>134563976

That's just the ones who don't live here.

Chinks are killing you

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>>134571059
>homecucks BTFO by a yid

Enlighten the >muh Chinese homecucks as to why the >muh Chinese meme is pandered....

>>134571005

Better a trailer in hand than a two room condo the bank owns.

Also a lot of actually built houses here go for less than $30K, though they'd need some elbow grease to be up to standard.

>>134571173
So I bought a car a while back since my old one shit the bed after about 20 years. Banks were being a bitch, so I capitulated and took a 2 year loan at some stupid rate with pennies down.

Took my time paying it off over the subsequent few months just in case I needed money for something. It's been done for a couple of months now and still no sign of getting the title.

Banks are jerks.

>>134571173

*shrug* Banks aren't going out of business left and right, obviously they're still coming out ahead.

And maybe didn't make as much money as they would have, but even if you pay off your loan early, they still got 15-20 years or whatever of interest payments out of you. Maybe not as lucrative as 30 years worth, but they're still making money.

>>134563020
>outliers
>amateur
Everything is fine, maybe a dip down to 700 or a little below and then that's about it. mark my words.
If not it's time to worry.
This market has to cool down for good, don't you see this is a sign of health?

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>>134556373
Let it all burn. Society needs a hard reset if it is to function again.

>>134556373
>financial crisis
B-but they were such good goys! And so diverse too!

>>134570182
Ya idk why so many people r claiming day of rake. Simply a gust of wind to put the leaves back where they belong
>realistic housing correction
>MWUAHAHA 2008 CRISIS FOR CANADISTAN
The autism is real.

>>134571160
I actually don't know how I feel about this... boomer mum and dad investors who decide to purchase a second house or third house to leave more for their kids. Vs boomers who sell their house and spend all the kids inheritance then live off the state pension. Leaving shit to your offspring should be what we all do to ensure the future of our genes.

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>>134571583
>flag
>talks about economics

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>>134556373

guys, isn't the real enemy the boomers who fight against new housing projects using bullshit environmental reasons?

There's a fuckton of land in Canada, there's no reason why houses should this expensive.

>>134556373
Good thing Trudeau sold your gold bullion to finance his cult of personality campaign

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>>134571779
Germany's executive arm in Brussels did it again, but this time they are crashing all of Western Europes economy without survivors.
They are already preparing for the squeeze and get rid of the purlbe ones (official reason: Muh the criminals and muh terrorists need 500€ bills, they can't just use 1000-mountain-shekel bills).

>>134571659
W-working as intended! Bless Trudeu!

>>134572149
W-we meant for this.

>>134571866
You do realise its not enough to have a house. This house also needs to be close to your fucking job.

I could buy and build a house in the middle of bum fuck australia, for the price of a carton of piss. But it won't do me any fucking good now will it.

>>134560349
>leaf

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>>134572236
>environmental reasons

i'm talking about building UP obviously

Is this happening in Vancouver also?

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GTA BTFO

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>>134556373
I feel sad for my Canadian Bros, many innocent people will be hurt while the banks are protected. Sad.

>>134572352

I don't know what it's like in Toronto, but if it's like San Francisco and California, it's

>muh historic homes and architecture
>muh uncluttered skyline

So much of the outrageous real estate prices in SF is self-inflicted. Just stupid, snobby liberals shooting themselves in the foot.

>, 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%.

this is the crux, and it is false.
canadian banks let you roll over your mortgage on renewal, no need to requalify. Underwater folks cant move and are more likely to default, but thete is no 'fuck you' date.
t. ex td banker

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>>134562189
As
>>134563020
points out, $450k bottom if they're lucky.

>>134556373
Good. Hope boomers lose their savings.

>>134572851
You also get paid $100K+

Berkeley PD pays $84K USD starting

Tech companies pay $200-300K and up, coder with 10 years makes 300-500K+

Lots of multimillionaires/billionaires

SF has wealth and pays well. Toronto pays fuck all, a high-end salary is $70K CAD / 50K USD.

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>>134559571
What hasn't Vancouver cracked yet?
Is it because BC doesn't have the same new taxes and regs as Ontario?

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>>134563195
It's in our blood to be complete fuck ups

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>>134556373


But....Obama leaf told me everything is great.

OBAMA LEAF....WHERE ARE YOU?

WHAT DOES OBAMA LEAF THINK ABOUT ALL OF THIS?

>>134573719
I'm sorry my fellow Burger, but Obama leaf was consumed as sacrifice in the Calgary Stampede

>>134558822
67.5% percentage comes from the % Estimated outstanding Canadian residential mortgages with CMHC insurance coverage?

Can you elaborate to someone outside the industry what does that criteria mean, and how does it point to subprime mortgages?

>>134573593
Jesus fucking Christ.

If anything this should have been just cause for all the other countries to just wipe out Canada for how retarded they are.

>>134573826
Southern white trash education

>>134573262
Not sure how anyone affords to live in toronto. Not sure why they would want to either the place is filled with people who don't speak english.

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>>134556628
how much is that house worth now??? how much will it be worth by October

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>>134572851

i live near SF, all those reasons are most likely BS.

They just want to protect their investments and ride the house bubble to the fucking moon until real estate becomes so prohibitively expensive here that all the tech companies move away because not even their employees can pay for rent.

it really rustles my jimmies.

>>134573936
What's wrong with me trying to expand my knowledge? would you rather I didn't raise any questions and let Shlomo dominate me and shame me to keep me clueless?

>>134573593
Canada is useless

>>134556373
Good. Boomers didnt learn their lesson 9 years ago. Fuck em.

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canada is gonna need quite a bit more foreign investments to fix this mess.

>>134570123
>However, now that the bubble has blown up, people are trying to get out, especially people who bought in the last few years. Even the ones that rode it all the way are fucked because they just used their home equity as an ATM to buy $80K audis, $60K kitchens, $20K gardens, $20K family vacations, etc. The entire Canadian economy is based on home equity spending/credit lines, which is why Canada is utterly and completely fucked.

You have no idea how similar Sweden and Canada is, except the bubble havent blown up here yet

>>134574188
>pic related
I never asked for this feel.

>>134573826
Banks only give out the mortgages because there's 0 risk to them since if the homecuck defaults the CMHC pays them back the entire principal if there is a loss on the sale.

If they couldn't get CMHC insurance on the home, they'd charge far higher interest rates to compensate for the actual risk involved or wouldn't give out the mortgage at all.

It's the leaf version of Fannie Mae/Freddie Mac

>>134574027
Based on the other Randolph house sold down the street in July, prices have dropped 55% now. That $1.95M cuckshack would fetch $896,400 now, or a loss of $1,053,600 in 100 days.

By October that cuckshack will probably be $500K tops lol.

>>134574620
That sucks senpai, I thought Canada was alone in this retardation since the 2008 recession.

I live in a $1250/month basement appartment that is an hour drive to Toronto with zero traffic, two hours or more with traffic. Thankfully I have a roommate to split the rent with, otherwise I'd be living with my parents in the middle of fucking nowhere. It's a fucking pitiful state of affairs, no jobs, sky-high rent and living expenses, zero hope of ever owning property within a lightyear of a city (where the few jobs actually are), I can't even afford a car.

>>134572167
leafcucks, a house like that in my state goes for 10k if your lucky

>>134573454
Literal millionaire chinamen moving into the city by the thousands are propping up the Vancouver market, the retards will fight for 120% the sticker price of a $10 million crack den down there.

>>134574829
I can only feel satisfaction that some multimillionaire fuckstick just lost half his fortune on that thing.

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>>134575743
It's weird though. How stupid do you have to be to keep bidding up Vancouver property while Toronto is shitting the bed?

>>134576407
Chinese insectoid stupid

This was all apart of their plan. Now that the chinks have destroyed the market they can buy it all up for pennies on the dollar. What's a few million when in the long run they will own everything. They think long term never forget.

The Vancouver area is so beautiful, shame it is a Chinese colony. Toronto and the surrounding area have no redeeming qualities whatsoever.

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>>134576597
I've seen hedge funds do this on a much smaller scale: sacrifice some of the profits made on flipping assets in the early stage of the bubble to create a spike, while establishing shorts. But I've never seen it on this scale, or in a market with transactional friction and no shorting like residential real estate.

>>134572167
I'm pretty sure I lived in this house in 2009

>>134577100
We have a millionaire boys.

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>>134577100
>not sure if crackhead or millionaire...

>>134576597
>They think long term never forget.

this can't be stressed enough, just look at their history, every time they seem to be in a really bad spot they just wait it out and before you know it their enemies are either gone or fully assimilated .

>>134574657
so basically CMHC guarantees mostly subprime mortgages made by low income borrowers? does the CMHC issue mortgage backed securities?

35% of all mortgages are insured by the CMHC. What does "CMHC securitization guarantee" mean though?

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How will JUSTin Trudeau respond?

Beg his Chinese overlords?

>>134575105
Yeah I think Canada is in a worse situation that Sweden today, but Sweden will probably be there in a few years time tops.

Housing prices have increased by 734% in 35 years, and sometimes by over 20% per year. So we're getting there.

Some areas in Sweden are hitting 10M SEK price mark (like 1,5-2m) CAD, and those arent even some luxury castles, but normal homes.

In prespective, Sweden is closing in on Norwegian housing prices, and Norwegian make like 30% more money.

>>134556373
Vancouver is still obscene and getting worse, despite growing up here and loving my province I just accepted a job offer in Montreal, literally going to be surrounded by only frogs, because I want to own a house and support a family someday which I can't do here.

>>134572167
haha at this cuckshed. this is a house I used to live in when I was 8 to 13 back in 1996 to 2001
http://www.realtor.com/realestateandhomes-detail/1710-Lincoln-Ave_Cincinnati_OH_45212_M46452-66849#photo0
only $40,000 today

>>134577691
The CMHC guarantees individual mortgages, and also insures MBS pools.

>>134556373
I really wonder whos holding in a crash like this.

I bet those good little leafs got scammed bigly.

>>134577852
How can muslims afford it?

>>134577944
Bud, Montreal is a shit hole

It's only French from 9 to 5

>>134578268
I'm well aware, but housing costs are half what they are out here, and I've been offered substantially more money out there then I'm making here, I'm willing to live in a shithole if it means my quality of life goes up and I'm able to have a family.

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>>134575743
why does anyone with money want to move to your freezing cold shithole? am I fucking missing something here? why are Chinese people spending millions to live in a tiny box in a cold shithole when they can spend the same amount to live in a comfy warm mansion in Austin?

>>134577956
How black is Norwood?

>>134571173
You have much greater faith in people understanding rates than you should

>>134556373
Toronto isn't in Canada is it?
>t. Ab

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>>134577304

>>134578248
The government.
https://sverigesradio.se/sida/artikel.aspx?programid=2054&artikel=6388928

>>134556373
This is the best day of my life.
Fuck toronto and the kikes who live there.

>>134578734
most people just sign shit without reading it

>>134578491
>I'm willing to live in a shithole if it means my quality of life goes up

Wtf man. As someone who lives on the East coast, you are going to regret it. BC is the best part of Canada, housing aside.

>>134556373
OPINION?
>>134578534
?

>>134578572
They don't want to live here.
It's for money laundering.

if you bought a house for anything other than providing a place for your family to live in, you deserve anything you get

>>134570124
Kek. Holy shit we're so fucked, because retard people will be so confused.

>>134578248
Are you serious bong? The government puts them up for free and gives them everything else for free too

>>134569430
>HURR WE'RE SPESHUL, MURICANS ARE RETARDS DUURRRRRRR CANT HAPPEN HERE

>>134570054
It will kill people.

>>134568197
so much this, fuck the chinks

How can we make money off this? If its crashing itll keep going down the bubbles popped

>>134578620
I would guess 20% or so.

>>134572167
Wow I used to live there around 2003.

>>134579910
http://www.city-data.com/city/Norwood-Ohio.html#b

actually 8%

well canadians i would stop shitting your pants and start selling, if this is anything like the 2008 crash in the US, which really started in 2007 and didn't fully recover until early 2013. you'll be fine if you sell now and buy in a couple years.

but who knows shit is never the same, but it seems like your housing market isn't to different the the US housing market with the subprime mortgages

>>134576407
Because chinks are smart enough for that? Seriously, you idiots need to drop the chink-genius meme. They are shitty businessmen and lack individual thinking

>>134576407
what is that? if i had to guess i would say its a man, but i guess it could be a flat chested female basket ball player

>>134578572
Fuck off kike. If you didn't fuck things up for Whites we wouldn't be in this situation.

>>134560110
Now I get to suffer because of retards. People won't just be calling for death squads they'll be forming them. We'll solve your (((housing))) problem

>>134568141
Bingo. Fucking love hearing people tell me their waiting for a crash to buy in the mean time I've got three rentals and they've been doubling my mortgage payments.

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>>134580307
hmm.... but I'm white.
oh wait, I get it... You're saying it's my fault that long-dead white people in America who I have just as much to do with as you do fell for the WW2 meme and the Federal Reserve meme.
Right? Is that what you're saying? or what?
do you even know? do I even care?

>>134580096
only jews own a bunch of homes to rent out

>>134580784
I'm saying stupidity is contagious.

>>134580753
lol obviously a realtor trolling to keep his shekels coming in.
the only way your doubling your mortgage payments on your houses if you bought them 20 years ago, and had the assets to ride out the storms

When can we expect another housing price crash here in the US? My city is over valued.

>>134580753
>Flag
You probably bought at post-crash prices. There are no post-crash prices here in Canada. Not yet at least.

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>>134579957
How do you have internet in Niger?

>>134581184
i wouldn't, i mean yes we are still doing the same stupid shit we were before 2008, but with inflation i doubt we'll see a housing crash any time soon

>>134581263
Slaves.

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>>134579957
>Niger
>Wow I used to live there around 2003.
The circle is complete.
We can all go home now.

>>134560316

Hi Pablemos, you can't "speculate" when the price is tanking down

>>134556628
>>134556664
>>134560362
>>134560427
>imagine lacking basic common sense to such an extent that you buy those with that pricing

And the people who are buying them aren't even millionaires because they're buying them so they can work in Toronto. That's kinda sad, imagining yourself in the shoes of those people once the property prices crash and they're forced to pay out the rest of the mortgage for a house that is 70% cheaper than what they're paying

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As an american how can I take advantage of canada crashing and burning in a few years?

Is the canadian market big enough to cause global waves like in 2008?

>>134566925
> but at least its finally happening now.

You don't know what you are talking about, 20% of the economy in Ontario is construction. It's going to take you a decade and a lot of pain to recover.

Get ready for the bread lines, leaf.

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>>134583490
As your pic implies, build up a harem of snow-nigger sex-slaves.

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>>134583761
Whats the place in canada with a fuckload of redheads called again?

>>134583490
Is that a Canadian qt who is broke and homeless now and susceptible to become a waifu for some rich Austrian /pol/ack?

>>134583860
Nova Scotia?

>>134568141

When the banks crash and no one gets a mortgage no one will be buying, no matter how cheap the houses are or appear to be.

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>>134583860
No idea. In Russia it would be Yoshkar-Ola in Mari El. I really want to go there some day.
t. Not Really Into Red-Heads But....

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So what caused this

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>mfw I know an Indian guy who bought a 600k house at the peak of the bubble, works the same shitty meme job as me and absolutely cannot afford it.

Fuck you Nirmalan you piece of shit, I hope your entire family defaults on your chain mortgage scheme

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I read about the housing bubble bursting a month ago, I thought this was common knowledge.

I'm also aware that Trudeau is borrowing at Greek pre-crisis levels, saddling future generations with unsustainable debt to finance short-term popularity.
I don't know if Canadians are fully aware of what is happening to their economy. It will not be long before investor confidence in the Canadian economy wanes, interest rates go up and the massive deficits are no longer sustainable. That will require austerity, massive spending cuts and a drastic reduction of the Canadian welfare state. I don't know how well the immigrant/Muslim community will take this, and what their response will be. My guess is a Muslim Sadiq Khan-esque figure will emerge, disguising support for Islamization behind a veil of Socialism.

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>>134556373
weird thought the chinks would prop it up for another few years

>>134570123
>because they just used their home equity as an ATM to buy $80K audis

Very informative, thanks mate. The mention of the Audis got me, you are describing Spain from 96 to 06.

>>134556628
>buying a cuckshed in some frozen shithole for 2 million leafbux
pls be a chink

>>134584600
The Chinese have clamped down on money leaving the country recently

This is what caused BitCoin to surge in recent months.
The Canadian real estate bubble was partially financed by the illegal money siphoned by Chinese Communist officials.
Literally the hard work of billions of people going down the drain for a fucking leaf.

I have 5k to my name, where should I put it?

>>134570123
he doesn't know about all the chinks that have leaf citizenship

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>>134584398
keknada is a fractured meme country. The chinese and vodkafags will likely buy off the entire northern part and whatever is in between cities. Some provinces and cities will join USA. Ottawa and Toronto might be the only thing left in the nuCanada. The normies couldn't be fucked to care about where this country is headed and they sure as fuck aren't going to die for it when the time comes.

>>134585545
Invest in Jewish owned Banks

>>134585545
Bitcoin, Ethereum, Monero

>>134585661
So huge and so wasted.

>>134585677
That's a good idea actually
>>134585708
Didn't cryptos just have serious problems?

Seems like an unstable market where your assets can get wiped out pretty easily.

>>134586044
homer simpson staring at a piece of paper saying always do the opposite of what jews say dot jaypeg

>>134585872
Infected with cuck gene.

>>134585545
https://www.predictit.org/Browse/Featured

>>134568380

Most of the boomers wealth is dependent on real estate.

>>134572167

You can buy a house exactly like that but in better condition in Southern Illinois for <$35k in a mostly white conservative town.

Property tax will likely be $4k or more a year, but still...

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>>134586910
>Illinois

>>134564210
They learned exactly what to do to stupid people who didn't learn from 2008 and how to cash in before it all goes to shit. That's all that matters.

IT'S NOT SOCIALISM IF IT DOESNT WORK REMEMBER REEEEEEEEEE

>>134568243

those are some next level jewish tricks

>>134583860

Heaven

>>134570697
Which is why i bought a house in a small northern village (Swede) for almost exactly 30k, and didn't have to loan any money. It's an old house but in good shape, gonna need work, fix some floors, add some more isolation, probably dig up and improve the draining around the house, etc., and pay for broadband, but I'm looking at an additional 10-20k perhaps, 30 tops, which is money that goes towards knowing the house will still be fine in 20-30 years time, rather then paying interest to some jew. Bet those morons who buys million dollar homes wishes they were as smart and crafty as me, and had my problems in stead of their own. Bet dindus will move in close to a lot of them as well, to make matters even worse.

>>134588775
Yeah but do you have infrastructure in that village, and your work?

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>>134556373
ALLAHU AKBAR! What a time to be alive. The Boomers finally have their retirement plans destroyed in their twilight years, and millienials who jumped into the housing market with both feet will be ruined.

Up next: sub-prime car loans market! Oh, what's that, Anon? You didn't know Canadians couldn't afford an emergency expense of more than 200$/month?

Let this shit-heap of a country burn so the last of us can do pic related and rebuild it correctly.

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Toronto BTFO.

This decrease in price is temporary though, because the underlying problem of a supply and demand imbalance hasn't been fixed. You guys aren't building enough single detached homes and that has led to the current misery.

>>134556373

>O hey our massive housing bubble is popping. How could this happen? I thought it would keep going up forever and this will wipe me out. The government should have fixed this god damnit how can they let this happen?

-baby boomer investors everywhere

Anybody caught off guard by this has an iq of like 12.

>>134590266

There's just a problem of over funding from Chink and baby boomer investors with no better place for their funds than to dump it into housing and a corrupt government that panders to these groups, some simple over regulation on housing development (it's for your own good Goy) constraining development does a fucking world of hurt.

>>134590266
funny thing. There's nowhere left to build. It isn't by pure happenstance that 90% of our population lives a 30 minute drive from the US border. Those are the only lands that are habitable, and easy to build on (See St-Lawrence valley quick clay).

No, I'm afraid we're all going to have to get use to living in cucksheds and "micro-houses" like our fellow beloved Chinese-Canadians.

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>>134591328
>>134591662
t. toronto condocucks

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>>134583490
>Is the canadian market big enough to cause global waves like in 2008?

No, Canada's only got a population of 35 million. I don't see it causing worldwide pain, unless it causes a chain reaction triggers.

Question: How fucked in Canada's southern twin, Shitpostingland? It too has an economy based on ripping up 95% of the country to sell to the Chinks to buy the other 5%.

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>>134591930
"oh my gosh, why didn't anyone stop us from buying a house on a known flood-plain that becomes submerged every 10 years!? .gov please halp!"

>>134588775
>add some isolation
You sure fucking will.

>>134573593
So the leaf thought it said

>Random signature on the top

>United States Representative
Ching chong ching

>Republic of China Representative
Bruce Fraser

wew

>>134568160
There's no way on earth I would take out a Canadian mortgage, that's crazy.

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Schlomo giveth, Schlomo taketh away.

>>134566982
yes.
right now, about $0.80USD = $1.00CAD

>>134570749
>And you do realize the Chinese meme is perpetuated by realtors to get retards to buy?
as a share of the market, there is more chinese buying in the US than in canada

canadians just can't blame themselves no matter what.

they think that canadians are smarter than americans. that somehow, we can copy the failed model that americans had in the early 2000's but not create a bubble here and somehow come out ahead
these people think that there wouldn't be a bubble if there weren't chinese lmao

>>134579599
Our banks are prudent lenders!

>>134556804
HAHA fucking leafs.

And your PM gave a quarter billion to the Clinton foundation....

S T U P I D
T
U
P
I
D

The only people that have lost money are people that bought after April this year..... so far.
It' not a huge deal AT ALL at this moment. It will need to drop to about 600k to start causing any sort of panic.
It's just a correction in a over heated market that could never sustain it's current growth in the last 6 months.

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>>134556373
>TFW you don't know enough about economics to understand this thread.

>imagining all the smug boomers faces as it finally hits them and they have to sell their harleys, get their cars repo'd and sell their houses for peanuts

Good on you Canucks, let's pray for Sydney next.

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Hihihihihihi!