12 Replies to “It’s Probably Nothing”

  1. The real SHTF when people start defaulting en masse………and refuse to leave the house.

  2. Subprime loans. This is what caused the 2007/2008 crash and they’re still issuing them for the same reason they issued them before, race red-lining and the Community Reinvestment Act.
    The CRA needs to be repealed, and Fanny Mae/Freddy Mac plus the Federal Reserve need to be severely limited in their mandates.
    Decline in real wages coupled with rising house prices points to a new bubble.

  3. Yup. 100 year mortgages for people with no gainful employment or any prospect (or desire) of securing it. FFS What the hell did they THINK was going to happen?!

  4. I was getting ready to fire up Excel, amortize my loan for 100 years and start shopping for a lender…

  5. Harkov – Britain already has 100-year mortgages. There are also houses with the furniture built-in so that new buyers don’t have to buy a house and something to sleep or sit on. Hopefully the grandchildren will finally get clear title… As goes Europe, so goes North America if we’re not careful.

  6. Can anyone explain the chart that shows those with “some college” earning less than those with “high school” and “less than high school”? Is it possible to skip high school, enter college and then drop out?

  7. My wife watches a number of “buy and sell” with remodeling aspects TV shows and there are many areas in the US where the house prices are much lower than in Canada, in fact some are half as much. Many of these places at around $350 grand in the US are a million $ in Saskatoon area. Most likely similarly in Vancouver, Calgary, and Toronto.
    The said, the caption is real in the sense that at some point those two lines will cross over and cause some problems.

  8. What’s the big deal? We’ve had falling real wages and increasing house prices in Canada since the 1970s. About the only real way there is to make money in Canada anymore is flipping houses.
    Just max out those credit cards, pay the minimum and enjoy bankruptcy like everybody else. Be sure to pick up a really BIG big screen tv with all that borrowed money.

  9. Fcukin right phantom in fact im going to buy a nice camper trailer and park it in a bug out location cover it hide it protect it seal it then claim it as stolen then collect the insurance on it, and go about my mary way living way beyond my means so far in debt that my pay cheque just covers the interest payments and living cost (plus some beers n whiskey) so that when it all goes down ….i got a place to go thats safe.
    F em if they cant take a joke.

  10. Oh trust me phantom there are lots of private citizens who love to steal as well.
    For example , I once got into a debate with an older fella just before the wild rose became a serious opposition, I made an off the cuff remark about Rob Anderson crossing the floor, from the pc’s because the pc’s were so corrupt.
    And he went a little mental , and I said the pc’s and the voters are in it for themselves and he adjusted his cowboy hat and said no more than the wild rose or anyone else he said at least the pc’s take care of farmers, I was like huh? Where did you get that silly idea? He said the wild rose want to cut everything blah blah blah.
    Ha! I find out 2 weeks ago he works for the provincial gov in agriculture and farming….lol
    He has (through our conversations) flown all tax payer funded to 47 countries to see different farming and agriculture practices, he makes almost 200,000 a year . His next trip is to Brazil , to do? Check out a topical treatment on surface wounds on horses and that is a 2 week thing. Lol I asked him jokingly why he had to fly to Brazil to do this….he went on another sh peel…I just said don’t worry I’m sure it’s for a good cause. There are people in gov who know they are ripping off the tax payers and have no problem with it. I point out that he is a a pc atheist because they claim to be all moral and stuff.
    I can give you more background if your are interested. He is an atheist, and has no conscience. He comes to our church with his wife (lovely God fearing woman) so I don’t let the convo get heated.

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