THIS IS IT! The Great Canadian Real Estate Crash has Begun as Sales Drop MASSIVE 40%!
We have been waiting for the cooling of Canada’s real estate market. When oil prices took a dive, oil based areas of Alberta immediately saw a huge correction. Today we have extraordinary prices in Toronto, Vancouver, and others and it would seem nearly impossible to stop. Today, we see sales dropping massively, and we anticipate the Bank of Canada reducing liquidity, to stop fanning the flames that have made real estate completely unaffordable to many.
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In This Episode:
We have been waiting for the cooling of Canada’s real estate market. When oil prices took a dive, oil based areas of Alberta immediately saw a huge correction. Today we have extraordinary prices in Toronto, Vancouver, and others and it would seem nearly impossible to stop. Today, we see sales dropping massively, and we anticipate the Bank of Canada reducing liquidity, to stop fanning the flames that have made real estate completely unaffordable to many.
canada real estate house housing market stocks interest rates bank
Toronto home sales drop 40% compared to a year ago - Toronto - CBC News
http://www.cbc.ca/news/canada/toronto/toronto-home-sales-july-1.4233295
Is a Second Rate Hike in 2017 Inevitable? | The Motley Fool Canada
https://www.fool.ca/2017/08/08/is-a-second-rate-hike-in-2017-inevitable/
Toronto home buyers and sellers play the waiting game - The Globe and Mail
https://www.theglobeandmail.com/real-estate/toronto/toronto-home-buyers-and-sellers-play-the-waiting-game/article35919977/
Toronto Real Estate Prices Are Dropping Up To $2,100 Per Day | Better Dwelling
https://betterdwelling.com/city/toronto/toronto-real-estate-prices-dropping-2100-per-day/#_
What slowdown? Vancouver and Toronto real estate markets still hot and unaffordable for many - Business - CBC News
http://www.cbc.ca/news/business/real-estate-housing-toronto-vancouver-prices-1.4236245
Hong Kong ad offers to cover foreign buyers' tax for Toronto condo investors - Article - BNN
http://www.bnn.ca/toronto-condo-ad-in-hong-kong-offers-to-cover-15-foreign-buyers-tax-1.753423
Great information unfortunately it is very scary as I am in Canada and have a mortgage.
Hedge your mortgage with either physical silver or Bitcoin...I highly recommend mining BTC on Genesis-Mining. If you can scrap up 13K USD you can get 100 THs of mining which will yeild about 8-10 BTC in the next year. As the market falls BTC will rise. :)
I agree that is an investment with great potential but as the old saying goes risk and reward come hand in hand, since I don't know how to value how much BTC should be worth. If have money to invest I probably would treat it as a penny stock that I will sell 10% on each 20% price increase.
Any crypto you like that is still in the early game for speculation?
This is tremendous news. Lovely on the border between Mississauga and Etobicoke. Bungalow, 3 bedrooms, suburban hell.......... $1.6 million please. What a joke, it was time for it to fall.
Deutsche bank "likes" this I heard. Their exposure to Canadian housing market will drag the European economy down. Housing prices in Sweden went up this year with 8-12%. Swedes have the highest debt on the planet and housing is the largest chunk of this debt. In total debt, government included I think Sweden is second in the world just beaten by Japan. I guess Sweden will fall hard when the shit hits the fan this time around.
How far the crash willl effect the economy of canada?
It can get very ugly. In an obvious falling market a lot of people will wait for more price drop before buying so there really will be very little buyer in the market.
The developer, construction company, RE agents, high leverage house flipper, low down payment home owner will all take a direct hit. Some will cut loss, some will lose job and forced to sell. Some will be foreclosed.
All these will cascade back to the banks as bad debt loss / foreclosure which will hurt the shareholder and staff will be laid off.
Next when a bank take the collateral on a bad loan and sell (this will drive price further down) to recover whatever they can, the reverse of the fractional reserve happens so say 10% reserve will mean the money supply shrink by 10 times the loan amount. Less money supply means falling prices and probably falling wages. Which spiral back to the next wave of home default as the loan payment stays the same while wages drop.
The higher it went up the harder the fall...
great post my friend
People of all ages are brain-dead. Lucky old people that may downsize and move to someplace with less shitty weather. Millennials are completely politically inept like boomers, even though there may appear to be opposing views. By design. This economic crash is a political tool.