Real Estate Implosion...

[gordholio]

"Mental health issues." "Manifesto." "Bitter renter." "No subprime."

You guys are a laff riot. Brainwashed zombie laff riot. Incredible.

[timber2012]

"Mental health issues." "Manifesto." "Bitter renter." "No subprime."

You guys are a laff riot. Brainwashed zombie laff riot. Incredible.

uh oh - someone else might have mental health issues

[timber2012]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

I nearly spit juice all over the keyboard when I read that.

- he talks about the USA. This isnt the USA here
- he's complaing about people getting a mortgage, lol, in most countries people borrow money to buy a house - LOL
- he whines about subprime lending in canada - extra special lol
- he whines that renting isn't throwing money away. I couldn't stop laughing at this.

Yep - Vancouver is different.

Until it's not.

[ArthurFonzarelli]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

I nearly spit juice all over the keyboard when I read that.

- he talks about the USA. This isnt the USA here
- he's complaing about people getting a mortgage, lol, in most countries people borrow money to buy a house - LOL
- he whines about subprime lending in canada - extra special lol
- he whines that renting isn't throwing money away. I couldn't stop laughing at this.

[/quote]

So... Canadians aren't carrying record levels of debt, carrying costs aren't going to be 20% higher (or more) inside of 24 months with a 200 bp rate increase, we aren't at record inventory levels, we aren't at the most distorted price:rent and price:income ratios of any Canadian city in the entire history of our country, we don't have a bought-and-sold media that pumps RE to safeguard ad revenues, we don't have a major "non" prime lending market in Canada, the proposed OSFI regs aren't going to curtail stated income loans and limit availability of credit, we don't have disingenuous realtors pulling stunts and tricks to spread fear and paranoia (or worse yet, racism) by claiming (without a shred of statistical evidence) that the Chinese are buying out the city, falsely claiming one day sellouts and paying people to stand in line and flying local realtors around the city claiming to be Chinese buyers... we aren't experiencing negative population growth right now either. And the global financial markets - in great shape... just ignore Greece... and Spain... and Italy... OK and maybe Japan... and maybe the U.S. - hell China's even got some jitters... yeah but the Conference Board says we'll break 2% GDP growth next year (oh... you mean that's BEFORE inflation...?)

You're right, TDMA, that gordholio guy... real nut job. Glad you were here to straighten him out...

[tdma800]

[You're right, TDMA, that gordholio guy... real nut job. Glad you were here to straighten him out...

I formally, seriously, and hereby declare with a touch of formality, +1

[Taipan]

Hey Arthur, like your style.

Looking for a new speech writer.

Require no input from me, just keep writing and ill just turn up and post it as my stuff.

Itll save me a shit load of time

[Warren12]

So... Canadians aren't carrying record levels of debt, carrying costs aren't going to be 20% higher (or more) inside of 24 months with a 200 bp rate increase, we aren't at record inventory levels,

You heard it here first people. Canada is going to rocket out of the world recession alone. I suppose the C$ will be at $1.50 US by that time with that increase too?

Record inventory of what?

Get your head out of the sand.

[timber2012]

So... Canadians aren't carrying record levels of debt, carrying costs aren't going to be 20% higher (or more) inside of 24 months with a 200 bp rate increase, we aren't at record inventory levels,

You heard it here first people. Canada is going to rocket out of the world recession alone. I suppose the C$ will be at $1.50 US by that time with that increase too?

Record inventory of what?

Get your head out of the sand.

LOL

[semven]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

I nearly spit juice all over the keyboard when I read that.

- he talks about the USA. This isnt the USA here
- he's complaing about people getting a mortgage, lol, in most countries people borrow money to buy a house - LOL
- he whines about subprime lending in canada - extra special lol
- he whines that renting isn't throwing money away. I couldn't stop laughing at this.

Yep - Vancouver is different.

Until it's not.

I know...We are F#$%$cked. Pssssssst ....Dont tell anyone

[Taipan]

I notice that over the last few weeks, the CAD$ has risen significantly above the US$.

Hows that going.

My apologise to all my good canadian friends. Its brutally nasty. An observation

[timber2012]

Yep - Vancouver is different.

Until it's not.

I know...We are F#$%$cked. Pssssssst ....Dont tell anyone

No no no - don't be silly.

Some are F*(*&cked. Problem is - I'm not quite sure who is and isn't.

[semven]

I notice that over the last few weeks, the CAD$ has risen significantly above the US$.

Hows that going.

My apologise to all my good canadian friends. Its brutally nasty. An observation

You mean below

Its the only good news right now...We need that to make our exports more attractive to our #1 trading partner.

[robert james]

I would be the last person to rain on anyone`s parade but Larry the Yatter guy says that Vancouver house prices are down 12 percent YOY.. Where is the HAM ??? Someone on this forum said that "HAM was unstoppable".. http://www.yattermatters.com/2012/06/va ... more-30803

[Warren12]

I notice that over the last few weeks, the CAD$ has risen significantly above the US$.

Hows that going.

My apologise to all my good canadian friends. Its brutally nasty. An observation

The C$ has been within a few cents above or below the USD for a few years now. Great observation, you might want to get your eyes checked.

[Taipan]

Your not paying attention.

Notice a lot of grouchy bulls around at the moment.

It seems that those that are nasty bears are now to blame for the falling prices.

As a homeowner, I admit not only to a vested interest, but also to wishing the perma-bears would just go back, frankly, to their lairs for a really long nap. Their proclamations substantially risk devaluating a major asset of mine. Furthermore, if Canadian housing were to crash similar to what occurred in the U.S., there will be a rather traumatic impact on the Canadian economy and all our living standards.

Thanks to VREAA to pointing this out