It’s Probably Nothing – small dead animals

Hunker down, people.

CMHC CEO Evan Siddall said earlier this month that the housing agency would raise its risk rating to strong for the first time ever.
CMHC said there is strong evidence of problematic conditions in Vancouver, Calgary, Saskatoon, Regina, Toronto and Hamilton.
Edmonton, Winnipeg, Montreal and Quebec City show moderate evidence of such conditions, the agency said.

(h/t Dan)

15 Replies to “It’s Probably Nothing”

Yup…we got our old Canada back!!

Won’t happen if Trump is elected. There will be a million one-percenters moving to Toronto, Montreal and Vancouver.

But Ottawa’s market isn’t as bad? Hmm, I wonder why…

Just more misinformation by CMHC and the media.
“A US style housing crash”. Misinformation, typical. That statement alone disqualifies the story right there. The “US style crash” was caused by many factors, that do not exist in Canuckistan

Give Queen Selfie enough time and that will change. Imagine CRA for the swarthy being airlifted in.

“Hmm, I wonder why…”
Because the people who live there are known as Ottawankers.

Hey, we’re not all wankers. I look forward to greating all those film stars at the boarder with placards reading “Go Home Yankee :-)”
PS I like the US.

“moderate evidence”. I would say the market should have collapsed a few years ago. tell me just how much a person has to earn to pay a million dollar mortgage. maybe DanBC could answer that question.

Just wondering how much of the Chinese mortgage exposure that CMHC has to cover off by raising rates here in Canada thru a faux mortgage crisis here?

“But Ottawa’s market isn’t as bad? Hmm, I wonder why”
It makes me laugh when the CTV/CBC/Global droolers and drivellers in Ottawa regurgitate the tired old “But Ottawa has avoided the uncertainties and fears that characterize the Toronto and Vancouver real estate markets.”
I would like to say that they are just putting up a brave front, but that would be crediting them with bits of prescience and analytical ability…something they just don’t possess.
Today’s Sesame Street brought to you by the letter B.

“CMHC CEO Evan Siddall said earlier this month that the housing agency would raise its risk rating to strong for the first time ever.
CMHC said there is strong evidence of problematic conditions in…”
This could possibly be evidence of the foreknowledge by CMHC that interest rates on mortgages and other loans are soon going to begin rising back to “normal” levels.

Saskatoon? Regina? on the same list as Vancouver?
We’ve come a long way baby.

House prices go up and they go down. Big deal. Asians pouring money into some expensive housing brought money into our economy that bureaucrats and politicians have done their best at chasing away in all other areas. But they’ve “fixed” that now. Government involvement at all levels is responsible for everything that makes houses expensive and yet they all talk about the need for low cost housing for the botched and bungled. Its guaranteed full time work for the political class pimping nonsense to the idiots who elect them.

Comparing current conditions in Canada to those that caused the mortgage collapse in the US in 2008 is spurious, to say the least. Back in 2006-2008, one could get a 110% mortgage with no proof of income. One could buy a $200,000 house and get a $20,000 bonus in cash. Of course, you’d have a mortgage higher than the value of the property, but that’s what sub-prime mortgage packaging was for. CMHC’s comparison is dishonest.