Jul 3, 2013 at 11:35:20
“0% down, 40-year loans by 2006 will do it. Imagine that, banks and the gov't deemed it prudent business policy to lend people 100% of the cost of their homes. Buyers have had no money down or borrowed down payment options, and all doubly-incentivized with tax credits. With the CMHC absorbing all bank risk.
Many will not be able to adjust even if interest rates move up even mildly. The average BC adulty carries almost $40,000 of non-mortgage related debt. People cannot grasp how dependent current life is upon a low interest rate environment. 30 years of declining rates are basically at an end point. A recipe for disaster has been created, but Canadians think holding a 165% debt/income ratio is normal. Think in 2 years how possible it is that there will literally be hell to pay.”
calumet60 on Jul 4, 2013 at 12:31:52
“In the US, 110% was not at all uncommon and we even saw higher than that - 115-120% in some cases. Well, surely today's value will be 10 20% higher in a few years, so no prob.......”
“I'm from Canada and not really sure why everyone is racing to buy semi-automatics. It looks like Obama is going to ban these weapons soon and make them illegal. Eventually they may even try to collect them and take them off your hands.
Does this mean Americans are preparing for Civil War, to defend their second amendment rights?”
lop7693 on Dec 20, 2012 at 14:23:15
johnnyoo on Dec 20, 2012 at 14:23:04
“The truth is nothing will be done. Dems love pandering to their base, especially when they can scream it from the scene of such a tragedy. However they will not pass it because they know it would be the fastest way to put republicans back in power. You see, Obama never talked about gun control as a canidate for a reason. Senators still have to win elections and know damn well this issue will be political suicide.”
NantanCochise on Dec 20, 2012 at 14:17:08
“I doubt the government would ever go around to peoples homes demanding they surrender guns. They may ban them, meaning no more future sales, have a buy-back program and create laws that would require the non-transfer of semi-autos. So keep it or sell it to the government, but you wont be able to sell it on, legally.
There will be no civil war. We always hear the crazies screaming from the corner of the street as thousands of sane people walk on by.”
Oct 24, 2012 at 16:04:48
“With development going so over the top at a time when the BoC says annualized economic growth is 1%, what are they expecting? A Chinese takeover? Or a place for boomers to downsize to and fund their retirement once the RE bubble shatters?”
Pilatunes on Oct 24, 2012 at 17:37:32
“Interesting point. I mean, I know the Canadian economy has done well relatively speaking, but I haven't seen or heard anything that sounds like 'economic boom' to me.
I guess the upside at least is that if they build up, not out, it will prevent some measure of urban sprawl.”
Aug 20, 2012 at 11:23:40
Canada British Columbia
“Signed. These guys would kill for a dollar. Who would of thought that taking hard to get tarsands oil and shipping it halfway across the World was such a magnificent idea? Are you kidding Enbridge? Dumb. I bet if the final figures were ever tallied it would cost more energy per barrel of oil to extract and ship it to China than the energy value of that barrel of oil itself.”
Another Pesky Canadian on Aug 20, 2012 at 11:45:44
“Re: "These guys would kill for a dollar."
Through the contribution of their products to Global Warming; the oil companies are ALREADY involved in killing the planet and everything that lives on it in pursuit of the ALMIGHTY DOLLAR.
The term "Genocide" does not even begin to cover the extent of the crime. What is happening is more like a careless extinction program.”
Aug 8, 2012 at 19:15:32
“More "lipstick on a pig" from the banking sector, and the same company that wants its customers to "borrow to get ahead".
Vancouver is well on its way to a bomb-busting correction that alone might take down the whole Canadian market 10%. This is what happens when CMHC no longer insures homes over 1 million dollars, and the normal amortization period returns.
Canada's banks are the safest in the world. Forget about the 7 bank negative outlook revision by S&P, because of RE exposure. That was just a rumor of a rumor. There is no problem here. Keep drinking the Kool-Aid, because it is nice and warm outside.”
Aesops on Aug 3, 2012 at 01:58:58
“Money, again, has often been a cause of the delusion of the multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper.
“Muslim Brotherhood. Loyal to Western interests and Western interests only. A proxy group spawned by the US, Israel, and the CIA. The so-called Arab Spring over all of last year was just a fake. Sad to say, Egypt has not learned one single thing in over a year.
Jun 12, 2012 at 14:26:34
“I am well aware of the warnings, I'm just not sure the average Canadian is. There seems to be this impression that it can never happen here.”
sgillhoolley on Jun 12, 2012 at 14:40:46
“Yeah, Canadians seem to have lost their inherent distrust of anything they are told, which used to lead them to research things and find out the truth. Now we seem quite happy to stick our heads in the tar sands and pretend that all is good.”
Jun 11, 2012 at 13:21:35
“But....all this year they were saying no bubble, no correction........ where the change of tune..... and every major realty firm says its a healthy balanced market! LOL. Guess the blanket of denial is getting a little suffocating.”
sgillhoolley on Jun 12, 2012 at 10:20:52
“You must be reading the wrong sources...I heard that a correction was due in Canada about 6 months ago.”