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vwrider
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Re: Record household debt could spell Canada's undoing

Mon Oct 22, 2012 1:29 pm

That's great for you, really.
Living in the basement of a house you own while renting out the top floors doesn't work for everybody.
Not picking on you, I'm just saying. Good for you that it's working out.
I don't feel picked on. Its no different than condo-living. Its better. I'm the boss. I don't answer to strata and it is paying off my mortgage.
 
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metalhead
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Re: Record household debt could spell Canada's undoing

Thu Dec 13, 2012 9:37 am

http://ca.finance.yahoo.com/blogs/insig ... 37093.html

Debt growth levels are up 5.4 per cent in last year, but that figure is lower than last year's growth rate level at 6.4 per cent, said Doug Porter, deputy chief economist at BMO Capital Markets.
Record high debt. Carney said yesterday Canadians are heeding his warnings. LOL. Doug says it is good news because it is not increasing as fast as it was. Personal debt "only" grew at 5.4% this year compared to 6.4% last year. LOL.

I also saw BC gubmint debt was downgraded to AAA negative. Deficit is growing, total debt is growing. Saw over at VCI, sales in the lower mainland for Dec. are about the worst in 10 years +. Maybe slightly better than '08. MOI over 12 now. Oh well, I'm sure things will take off in the spring. :) ETB and jimtan are confident. That is if climate change doesn't wash away jimtan's building. LOL. In fact he is not just confident but arrogantly so. Hmmm. This is just a forum but your debt and mortgage are real life. Will jimtan be in serious trouble beyond just having to live with overly optimistic forecasts based on vacancy rates? We'll see.

One thing is for sure I'm glad I can view the Van RE insanity from a distance. It's looking pretty certain that many will be crushed in the next year or two.
I just had the best year of my life. Bought a couple of houses in the US at a time when prices are stabilizing after a major correction. The same chance will come for those who want it in Vancouver.

Speaking of which I noticed someone questioning why if jimtan is such a brilliant and successful analyst, why did he buy his first condo just a few years ago. Good point.
Even a dumb ass injinear like myself managed to get clear title on a good size Abby SFH about 9 years ago. What up wit dat, jimbo?
 
gse36
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Re: Record household debt could spell Canada's undoing

Thu Dec 13, 2012 9:51 am

http://ca.finance.yahoo.com/blogs/insig ... 37093.html

Debt growth levels are up 5.4 per cent in last year, but that figure is lower than last year's growth rate level at 6.4 per cent, said Doug Porter, deputy chief economist at BMO Capital Markets.
Record high debt. Carney said yesterday Canadians are heeding his warnings. LOL. Doug says it is good news because it is not increasing as fast as it was. Personal debt "only" grew at 5.4% this year compared to 6.4% last year. LOL.
Doug is just twisting it. I mean when debt is so high, theres resistance. harder for debt to increase at same rate because so many people already tapped out. its like trying to squeeze water from a rock!
 
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metalhead
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Re: Record household debt could spell Canada's undoing

Thu Dec 13, 2012 9:51 am

http://ca.finance.yahoo.com/news/clark- ... 11881.html

Off topic: BC Gas Exports
Well, look at this. Crusty thinks I might be able to come back and work in Ft. St. John or Ft. Nelson in a few years.
Yeah they need to get that stuff to Asia cause the way US shale gas is going it will be years before it's worth slightly more than jack shit in N.A.
I'll ask some of my guys if they want to go. I'll stay down south, thank you very much, lol.
 
vwrider
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Re: Record household debt could spell Canada's undoing

Thu Apr 25, 2013 9:22 am

Legal suites in east abbotsford paying 1/2 of their mortgage or more. Color in another huge portion of this with non-legal suites collecting rent, ect. IMO this is one reason prices haven't or will not crash drastically. Does Greater vancouver have similiar housing units?
Who said anything about a crash? Come back in a few months to this thread. Btw, sales are down in your hood.
Good for you. Abbotsford prices are not as retarded like Greater Vancouver. It's still overpriced IMHO. Good thing you built some equity in the last decade. Bad thing is, you'll lose it in the comIng years.
HPI for abbotsford (detached) in the last 6 months is +0.9%. 2.4% year over year. Sales are still down but prices really haven't moved. Mgt now sits at 294K.
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