Realestate losing with Wynne.
- Thread starter Danbones
- Start date
Toronto's Realestate plummets 50% , New listing up by 22%
[youtube]lDvjvEBfXaI[/youtube]
all because of the new legislation'
from the link:
"Canada's is in a Huge Housing Bubble and Maxed out on Debt .Protect yourself,your family and your Country from financial ruin,simply by reducing your debt. Don't be fooled by the hype in the news.
For a long time now the bank of Canada has been warning that Canadians are in too much debt."
It's amazing how you haven't got a clue...drugs?
[youtube]F01CBujq8QI[/youtube]
CIBC Bank warns of a bigger shock coming to Canada's housing. 07/19/2017
[youtube]3NBlw60V4fg[/youtube]
IMF Warning : Canada at risk,Massive Housing Bubble and Huge Debt loads 07/13/2017
Every time the bank of Canada raises rates guess what happens to your debts?
Yup. POW! right in the bum.
[youtube]lDvjvEBfXaI[/youtube]
all because of the new legislation'
from the link:
"Canada's is in a Huge Housing Bubble and Maxed out on Debt .Protect yourself,your family and your Country from financial ruin,simply by reducing your debt. Don't be fooled by the hype in the news.
For a long time now the bank of Canada has been warning that Canadians are in too much debt."
"Don't be fooled by the hype in the news."...^
It's amazing how you haven't got a clue...drugs?
[youtube]F01CBujq8QI[/youtube]
CIBC Bank warns of a bigger shock coming to Canada's housing. 07/19/2017
[youtube]3NBlw60V4fg[/youtube]
IMF Warning : Canada at risk,Massive Housing Bubble and Huge Debt loads 07/13/2017
Every time the bank of Canada raises rates guess what happens to your debts?
Yup. POW! right in the bum.
'Everyone knows the risks when they buy a house.'
Was the Harper Creed in 2014.
So cheer up, buttercup and stop believing only what the MSM feeds to you.
There's more to the economy than real estate and that's why GDP growth is key indicator of performance.
Was the Harper Creed in 2014.
So cheer up, buttercup and stop believing only what the MSM feeds to you.
There's more to the economy than real estate and that's why GDP growth is key indicator of performance.
This is caused by Wynne and Trudeau's policies
POW! right in the bum.
LOL, Everyone knows the RISKS in buying a house?
Only if liebarrels are running the show.
The risks Harper MAY have (citation required) referred to were in relation to keeping a job to pay for a decent investment.
"Harper says PC policies will create 700,000 new homeowners by 2020
PC promises to make permanent the Home Renovation Tax Credit (HRTC), to address foreign ownership of residential real estate that has forced prices skywards in at least two major centres, and to allow the expanded use of RRSPs as part of home purchasing, make this target possible, Harper said.
http://www.canadiancontractor.ca/ca...ews-700000-new-homeowners-by-2020/1003274635/
Canadians in Mortgage Financial Trouble, Bigger problem than Canadians think 07/19/2017
[youtube]ZJqbT1v6aS4[/youtube]
People are pulling money out of their home equity to avoid bankruptcy.
[youtube]6KxTjxR7nzQ[/youtube]
Troubling Times Ahead For The Canadian Economy! - What You Need To Know
POW! right in the bum.
LOL, Everyone knows the RISKS in buying a house?
Only if liebarrels are running the show.
The risks Harper MAY have (citation required) referred to were in relation to keeping a job to pay for a decent investment.
"Harper says PC policies will create 700,000 new homeowners by 2020
PC promises to make permanent the Home Renovation Tax Credit (HRTC), to address foreign ownership of residential real estate that has forced prices skywards in at least two major centres, and to allow the expanded use of RRSPs as part of home purchasing, make this target possible, Harper said.
http://www.canadiancontractor.ca/ca...ews-700000-new-homeowners-by-2020/1003274635/
Canadians in Mortgage Financial Trouble, Bigger problem than Canadians think 07/19/2017
[youtube]ZJqbT1v6aS4[/youtube]
People are pulling money out of their home equity to avoid bankruptcy.
[youtube]6KxTjxR7nzQ[/youtube]
Troubling Times Ahead For The Canadian Economy! - What You Need To Know
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If your prediction is accurate then the boomers dying off is the natural mechanism to drop prices.... Mr Reddenbacher and Tater Tot are (according to your theory) doing nothing more than expediting the event and losing a bunch of cash in tax dollars at the same time.
Gdp growth overstimulated by debt that could become unsustainable because of rate rising doesn't indicate prosperity.
No. They are doing this in anticipation of the boomers dieing. Because, they believe if they wait for the fact to happen. The drop in prices will be so sudden and extreme, that it will be difficult to sustain without collapsing the economy.
They want to basically cushion the fall.
A bunch of financial firms took out so many shorts on the Canadian real estate market, that it's difficult to even find a stock you can borrow to short. When you have that many speculators predicting a bubble by shorting the market the way you have, you better soften the potential fall, or the result will be that these speculators will make trillions when you're market crashes suddenly right to the bottom.
It already is sudden and extreme.
What you're failing to recognize is that the kids of those Boomers have the opportunity to take possession of that house and put their lower valued home on the market.... This accommodates the generation(s) below them, new families, etc in potentially lowering the prices of starter homes to a level that makes it more realistic for a young family to buy.
Fukking over the top or upper half of the market does nothing for those middle class families at all
What you're failing to recognize is that the kids of those Boomers have the opportunity to take possession of that house and put their lower valued home on the market.... This accommodates the generation(s) below them, new families, etc in potentially lowering the prices of starter homes to a level that makes it more realistic for a young family to buy.
Fukking over the top or upper half of the market does nothing for those middle class families at all
At least in Ontario they can afford to buy a house.. Vancouver you have to have won the LottoMax to buy a house..
Ontario has it right.. inclusive for all.
Apparently, the feds aren't finished yet. There are rumors that a "stress test" is to be implemented on new home buyers which will make it even more difficult for first time buyers to own their own home.
I understand that it works like this: if the current mortgage rate is say 3% you could be approved for a mortgage based on your income. However if the rate increases to 5% at some point in the future, could you afford the same mortgage? No? Then even though the current rate is 3% and you would normally be approved, that won't happen anymore because you are unable to handle the rate increase.
Interesting eh?
I understand that it works like this: if the current mortgage rate is say 3% you could be approved for a mortgage based on your income. However if the rate increases to 5% at some point in the future, could you afford the same mortgage? No? Then even though the current rate is 3% and you would normally be approved, that won't happen anymore because you are unable to handle the rate increase.
Interesting eh?
You'll find far more people leaving the rental market to shop those starter home opportunities.
The biggest loss will be in the upper-mid and high market homes. The lower end/starter homes will not be impacted early as much, we seeing that here right now despite a low commodity price and recession in AB
Oh for Pete's sake! Lesson learned. I should have checked out what Wynn's mortgage plans were and, I obviously missed a portion of the discussion on the radio about the stress test. My humble apologies people! I understood it was a federal plan - guess it was Wynn's plan. Sorry!
Except foreigners of course.
Foreigners take up lots of space at restaurants, hotels, and rental car agencies and tourist shops too. We should raise those taxes on foreigners too to make all those amenities more inclusive too. Same logic. Heck, foreigners buy food at supermarkets too. Oh yes do they push prices up.
Since I don't have a mortgage I don't care all that much if the market crashes although if the right property comes along for the right price I may buy another place.
THis also probably won't have a negative effect on foreign buyers either for the same reason. They own it and a market crash will just make it easier for rich foreigners to buy even more homes.
THis also probably won't have a negative effect on foreign buyers either for the same reason. They own it and a market crash will just make it easier for rich foreigners to buy even more homes.
Wynne's other policies are part of this - like the xtra high rate of Hydro in Ontario reflects on who can pass the stress test.
Wynne housing plan likely to cause pause in home buying: Report
Consumers will want to take a breath and consider what the premier's plan means to them before rushing to buy, says Re/Max report.
https://www.thestar.com/business/re...ely-to-cause-pause-in-home-buying-report.html
Our dollar value relative to their currency also figures heavily into that too.
Most people have 3 houses in their heritage. Im not sure why anyone would waste time on a starter home.
All i have to do is wait for the boomers to die and i get 3 house for free.
One for every kid i have.