Oh most Canadians don't understand how much the sub-prime problem exists here, it's that fact that it got so large in the U.S. that they couldn't hide it any longer. But with all the job loses in Canada now pretty soon the spot light will shift and we'll begin to see how many sub-prime problems there are in Canada. This is why S.Harper said at first that the economic action plan will help Canada emerge faster, and stronger from the recession, but then made a comment on how Canada will need the American consumer to start spending again. That's because they need Canadians to be employed again so that that people can take advantage of the action plan and renovate something instead of worrying how they're going to pay a mortgage that's way beyond their means.

"jesus raven, have you ever heard the expression “doth protest too much”….?"

Indeed. This forum is one of the worst pity parties I've ever come across.

As an avid investor I caution you not to use stock index's as a gauge of the economy. Look at fundamentals, not trader's last bid or ask price.

It's mind boggling how little some people understand about investing.

Here is the full story of todays market action after the Fed intervention if your interested

http://www.marketwatch.com/news/story/fed-buy-tre…

Honestly, the only way to live comfortably in Vancouver in a 3-storey 3500 sqft house is bunk in with your family, share the living costs, and have a mortgage helper. PERIOD.

If you choose to live on your own and support yourself, fine. It's hard work getting ahead alone, but it can be done. I choose to live humbly with my family, with 6 working adults no dependents, and take advantage of the scales of economies my family has right now to build wealth. Real estate is an integral part of our portfolio.

If that's not your aspiration, fine. But don't spew hate and judgement just because I chose to do it. Furthermore, my RE investments in Edmonton does not impact you AT ALL.

Anyone see the stock markets lately? It keeps on rallying boys and girls. If that's not an indicator of "we've hit rock bottom", what is? This time next year, you'll see housing prices about 10-20% higher than what it's listed for now.

Whether it's 1) condo 2) townhouse 3) apartment, she still should have stuck to renting.

I said: "I feel bad for those that purchased a home to LIVE in and may well lose everything" "Perhaps some single mom working 2 shifts and still finding herself out on the street because she’s behind in the mortgage payements?.”

Raven said "Why in hell would a single mom working 2 shifts by a house? She should have stuck to renting."

A home could be a 1) condo 2) townhouse 3) apartment. And yes, you can get a mortgage on any of the above. I never once said a "house" did I?

Ok, ok ….Raven, you're killing me here! Too funny!

"You’re hoping to be released from the grip of one bubble before you miss the next one.

I believe you came on here with the intention of proving that lending standards are great in Canada. In the process you’ve revealed bits and pieces to provide an interesting bubble vignette.

I think it’s cool that you’ve paid off your main house, though. That’s the part of your story I do admire."

During a recession, who DOESN"T want to reduce their risk? In hindsight, of course I regret buying the condos! But now that the RE popped, I'm hoping Vancouver will become affordable again (that's why I'm a happy RE Vancouver bear) and if it does, I plan to sell off my edmonton properties to fund it.

Ella, I see your point and yes I agree. A glut of rentals coming on-board is good as long as the speculators don't try to jack up the cost of rent to cover their loses.

As for quality and size – again I agree. I've heard that any project built during a bubble – a condo/house whatever, isn't a good buy now nor in the future. The problems/crappy quality will only increase with repairs in the future. I don't know many families that would want to live in 400 sq ft. either.

" I still live at home with my parents and take public transit!"

What? Your story is quite confusing. I thought you were paying off your own house, not living at home?!

Oh, brother. I'm going back to work!

"Raven – I resent YOU. A person that has 6 properties, will never live in any of them and probably won’t even step foot in any of them. Why did you buy so many?" I hear what you're saying. Flippers and speculators have caused all sorts of problems… BUT, as Raven him(?) self says, though, they are likely to sell at even, or a small profit, which means he and his family will really have to pay for any earnings on those (selling a property for a small profit after carrying it a while is a loss to the seller). In the meantime, they help increase the pool of rental housing. And that is a service. People, like Raven, who bulk-bought properties pave the way for future buyers. The run-up in Vancouver has created a ton of new properties, which… Read more »

"Not dumb nor a bear but a “Speculator”. Someone that uses housing/shelter as a way to invest for their own greedy benefit to make money off the backs of hard-working families."

Greedy? Listen, I'm trying to make money and get ahead like the rest of hard-working families. I still live at home with my parents and take public transit! Before the downturn of this real estate, it was a great investment. And I still believe it is LONGTERM. So just stuff it.