When Canada’s Housing Bubble Pops, It Will Cause Misery and Ruin

B00Mer

Keep Calm and Carry On
Sep 6, 2008
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When Canada’s Housing Bubble Pops, It Will Cause Misery and Ruin

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https://www.jacobinmag.com/2022/01/canada-housing-market-real-estate?utm_source=pocket_mylist


We're allowing cities worth of immigrants into Canada every year. They need places to live. That's not a bubble that's going to pop.

You're not going to stop endlessly-rising prices without cutting off the immigration, foreign buyer, and investment firm housing companies.

Personally I think it's hurting Canadians that it doesn't pop.. making it difficult to find affordable housing.
 

pgs

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Nov 29, 2008
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When Canada’s Housing Bubble Pops, It Will Cause Misery and Ruin

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https://www.jacobinmag.com/2022/01/canada-housing-market-real-estate?utm_source=pocket_mylist


We're allowing cities worth of immigrants into Canada every year. They need places to live. That's not a bubble that's going to pop.

You're not going to stop endlessly-rising prices without cutting off the immigration, foreign buyer, and investment firm housing companies.

Personally I think it's hurting Canadians that it doesn't pop.. making it difficult to find affordable housing.
Where their might be a bursting bubbles is out in the sticks as prices are rising astronomically even in one horse towns like Burns Lake .
 

Ron in Regina

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Apr 9, 2008
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Well, if you (& your banker) own your own home currently, & you’re not looking at moving anytime soon, what difference does the market value of your home matter? Just keep your head down & keep paying…& maybe someday you’ll finish the mortgage & you will only have to pay property tax & home owners insurance & the upkeep and maintenance costs, and maybe flood insurance, and the coming mandatory homeowners climate change insurance I guess.

In a glass half full sort of way, If the housing market values crater….maybe…maybe your property tax (based upon your homes assessed value) will eventually go down….maybe…
 
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Mowich

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Well, if you (& your banker) own your own home currently, & you’re not looking at moving anytime soon, what difference does the market value of your home matter? Just keep your head down & keep paying…& maybe someday you’ll finish the mortgage & you will only have to pay property tax & home owners insurance & the upkeep and maintenance costs, and maybe flood insurance, and the coming mandatory homeowners climate change insurance I guess.

In a glass half full sort of way, If the housing market values crater….maybe…maybe your property tax (based upon your homes assessed value) will eventually go down….maybe…
When I was in the process of buying my home here in Craik, Ron I was prepared to put 50% down but my loan's officer at the credit union asked me if I was thinking of selling it in the future to which I answered no. She then suggested I reduce my down payment leaving me with more disposable income. I thought that made a lot of sense and went with a smaller amount. I would tell you what my mortgage payment is but then that would be bragging. :) I will say this though - interest rates can rise quite a bit before I have to worry about not making my monthly payments - it is that low. Your points are well taken.