It’s Probably Nothing

10 Replies to “It’s Probably Nothing”

1. This is wrong in my opinion because you dont have a mass exodus of people from canada moving to japan.
   Actually Japan Is very xenophobic and don’t like “different” people there (i’m using japan as an example only), if we did not have massive amounts of mass immigration into Canada from other places this graph would be very accurate. However due to the lack of Canadians themselves having almost no babies,and aborting the inconvenient ones the gov now REQUIRES massive amounts of immigration and third world despotic Muslims,communist Russians,socialist euro trash,African tribal scum have now been not only welcomed but are in high demand from our gov.
   The Gov doesn’t care who YOU have to live next to,they only care about taxing both of you to pay for there lifestyles.I could understand where someone would have a point by saying “well not everyone can afford an 500-800k home in Toronto or Vancouver” and i would say you are right if it was only 1 person moving in but i have seen entire family lineage unload a uhaul 15 mattresses,a bunch of boxes and about 10-20 People into a 3000 sq ft home all going to work at tim hortons, walmart,target,wendy’s,mc donalds, ect ect. So yeah nothing to see here folks.
   And i actually wish it would collapse,we need a reset in the western countries this multic-culti crap must end.
   Western white nations are THE only countries to allow MASSIVE amounts of immigration and i don’t like it. small amounts say 10-15k/year is ok. but outside of that it’s ridiculous.

2. Same story being recycled over and over.
   Every time it happens, more people see what Vancouver is all about and the values go up.
   So I really should tank the fear mongerers for the financial help.

3. I would like to see a breakdown of Canada’s housing bubble, province by province, and city vs rural. I have a hunch that if you took the big cities out of the equation, our figures would be a lot more sane. Vancouver is crazy high because they have used up about all the available building land. Know what they are doing there now? Building “laneway houses”. You have a single-family home on a “large enough” lot with a rear alley? You can put up a small house in the back yard, that “fronts” onto the laneway, and rent it out. Lot is not subdivided. No off-street parking, of course. Does wonderful things for traffic, it does.

4. Don’t forget either all the condo towers in Vankonger, Burnaby, Richmond, that sell out immediately. Turns out that a quarter of the condos in these towers (if not more) are empty, owned by offshore interests as a place to park their money, and have an “in” to Canada..
   Let’s face it, our country is viewed as one of the most stable, and friendly, in the world, even moreso than Obambaland. This propagates in this ongoing investment.
   It is something to behold, this bubble of Vancouver, where million dollar bungalows in Kerrisdale get bought, torn down, then built into $3million dollar monster home with 4 generations of “momma poppa Kmarts” living there. Persoanlly, I don’t see the appeal of living in that crowded, moonbat madness, and the costs are getting ridiculous.
   Haven’t seen that level of financial craziness here in Victoria, one can argue that some areas are high, but, as stated previously, “Their not building anymore waterfront”

5. I’m in the Lower Mainland and I’m definitely fixing to get out.

6. In Toronto it’s hard to see how this will end. Even if demand diminishes due to an economic downturn, there is so much money on the sidelines, waiting to buy some property in the city, that I can’t imagine a serious drop in housing costs. In the 2008 crisis, house prices only went down by about 5%, and very quickly came back up to baseline and have gone up ever since.

7. We are continuously sold that high housing prices are a good thing. If the value of my house goes up it does exactly nothing for me, except put my tax bill up. If I sell my house and make a ton of money it does me no good unless I don’t need a new place to live. All high prices mean is that people have less money to spend on other things.
   One of the reasons that the price of houses is going up is that new homes are subject to astronomical “development charges”. I think you will find that the amount the government charges home builders for permits has gone though the roof in the last decade. A friend of mine built an apartment for his parents over his garage and the building permit was in the tens of thousands of dollars. No new roads, no new services, just a money grab by governments

8. had two of my neighbors recently sell for 1.1 and 1.2 mill. and it is so tempting to pull up the tent pegs after 25 years
   Cal2 in Calgary

9. We are absolutely in a big housing bubble courtesy of cheap credit and other government intervention such as home buyer’s credit and zoning laws. It will pop and it will be rough. We’re not as stable as we’d like to believe.

10. Not sure where those figures are coming from, but they are not even close to accurate for Calgary/Fort Mac.
    I own rental properties in Calgary and Fort McMurray. Last purchased a house August of last year. Charging enough rent on that property to pay off the mortgage/tax/utilities and still put approx $1500 bucks in my pocket each month. My ROI based on 0% increase in property value is 14%/year. As an Engineer I can tell you that the Job market is slow right now and people are still moving here like crazy. If and when some of the “Shovel Ready” Oil Sands projects start up at a faster pace again it will be very interesting to see how much crazier the rental demand in Calgary becomes.