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#401
Aug 30 2016 08:24am
Quote (Caedus @ Aug 30 2016 08:09am)
It's not really though. In the US banks were giving mortgages they definitely couldn't afford with no downpayment and low interest rate for the first year or two. In Canada, it's a lengthy process to get approved, and you always need a downpayment usually a pretty sizeable one. Most provinces have forced sale rules if you default on your mortgage and the ones that do have foreclosure it's very difficult for that to actually happen. And in the US the housing market collapsed because banks were trading their bad mortgages around and no one knew who had them so people were petrified of investing when so many lenders and financial institutions were carrying so many toxic mortgages.

Also average Canadian household income tends to be pretty misleading. Your typical Canadian household is making far more than $40K a year especially ones that are capable of buying a home.



Our struggling evonomy and high debt to income ratio is what's causing it. A former lehman brothers executive is the guy giving the warning. That we're approaching extreme bubble territory, considering housing prices going up. Our dollar doing bad. Debt to disposable income is at 165%. Which is much higher than it was in the US when their bubble burst.

And stat can saying the average Canadian income is 49,000

This post was edited by Subzer0isGG on Aug 30 2016 08:25am
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#402
Aug 30 2016 08:40am
Housing prices are going down afiak
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#403
Aug 30 2016 08:45am
Quote (Secksii @ Aug 30 2016 08:40am)
Housing prices are going down afiak



Statistics from CREA show the average Canadian home price was 480,735 in July 2016 compared to 437,430 in July of last year.

So no, it's going up. Here in Edmonton/st Albert house prices are rising. No one can explain why considering the economy the way it is.
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#404
Aug 30 2016 09:07am
Quote (Subzer0isGG @ Aug 30 2016 07:45am)
Statistics from CREA show the average Canadian home price was 480,735 in July 2016 compared to 437,430 in July of last year.

So no, it's going up. Here in Edmonton/st Albert house prices are rising. No one can explain why considering the economy the way it is.



Especially considering Edmonton is a shit hole
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#405
Aug 30 2016 09:07am
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#406
Aug 30 2016 09:33am
Quote (dirTyMan @ Aug 30 2016 09:07am)
Especially considering Edmonton is a shit hole



You speak just like someone who's never left their home city.
I've never expected anything more from you.
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#407
Aug 30 2016 10:06am
Quote (Subzer0isGG @ Aug 30 2016 07:45am)
Statistics from CREA show the average Canadian home price was 480,735 in July 2016 compared to 437,430 in July of last year.

So no, it's going up. Here in Edmonton/st Albert house prices are rising. No one can explain why considering the economy the way it is.


I'm talking about right now. Ofc it'll say it went up, earlier this year was when shit ton of houses were sold ezpz. Now it's slowing down like Cray, way less being sold
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#408
Aug 30 2016 10:08am
Quote (Subzer0isGG @ Aug 30 2016 06:24am)
Our struggling evonomy and high debt to income ratio is what's causing it. A former lehman brothers executive is the guy giving the warning. That we're approaching extreme bubble territory, considering housing prices going up. Our dollar doing bad. Debt to disposable income is at 165%. Which is much higher than it was in the US when their bubble burst.

And stat can saying the average Canadian income is 49,000


Median family income in Canada is 78,000. In Alberta its 100,700.

Canadian housing problems are very different than what the US went through, but it's still looking a bit fragile, especially in AB.

Vancouver's market is just Chinese millionaires and billionaires buying up everything for any price just to launder cash. Toronto is shooting up without a limit, Calgary and Edmonton are on a precipice with oil prices so low and not looking to recover.

This post was edited by StayPositive on Aug 30 2016 10:11am
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#409
Aug 30 2016 10:13am
2 young quebec girl arrested with 30 million worth of cocain in australia lol they face lifetime sentence

http://www.cbc.ca/news/world/canadians-charged-australia-cocaine-1.3739299
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#410
Aug 30 2016 10:41am
Quote (Subzer0isGG @ Aug 30 2016 08:33am)
You speak just like someone who's never left their home city.
I've never expected anything more from you.


I live in the greatest city on the planet. Kind of hard to view anything as better.
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