”we have confidence in prudence from Canadians”

What???? Prudence in those same Canadians that are asked by CHMC to kindly take out a sub-prime loan???

It’s like locking up the fox with a bunch of chicken and saying “we have confidence that the fox will behave and won’t massacre the chicken”

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its not 6 months, its 12 months! he projects 12 months out.

“He predicted that, on an annualized basis, …)

in other words, “if the next 12 months behave like the last 12 months…”

I would be so much funnier if no one got hurt by this, but I suspect some unsuspecting readers take it at face value. Helmut is very careful to avoid say something wrong, but his blatant disregard for the statements likelihood of being misconstrued is shameful.

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It would actually be a very interesting exercise to actually verify that this, or something close to it, happens. Does/has Helmut ever describe his sources and methods? In all the math/engineering exams that I wrote, I had to show my work. Does Helmut show his?

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He goes home at night, takes the last 6 months worth of data, plots it on a graph.
Then he extends the line to the next 6 months.
Voila, the forecast for the next two quarters.

I could train a monkey to do this twice a year.
How Credit 1 can employ such a douchebag is beyond belief

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#47 Anon, Well thank you, I’m glad to see that at least some people get ‘it’. Off topic, on topic, tomatos tamatas, its all the same. The media and the people who speak through it are at war for control of the conciousness of the public. The Canadian public seems to have capitualted for the most part and theres only a few free thinkers left in rag tag pockets of society. The mainstream is drunk on the celebratory end time kool aid.

The droning spin of chosen ‘on topic’ media spun stories is just another way of misdirecting the sheeple from the hard truth when its the truth that should be focused on but would be too difficult to manage for reasons known only to the spin meisters. Well hidden until exposed through the Freedom of Information act that is.

Basically one group is played against another, one idea against another, one emotion against another depending on how the issues poll, while people should be focusing on the real enemy, which is all the waste , gibberish and incompetance. The fox is in the henhouse and the farmers sipping tea.

These slug wits ‘voting me down’ are expressing simple disonance in that truth makes some very uncomfortable because it provokes thinking contrary to their own recently developed bias and longer held deluded perceptions. The secret is that I am engaging them and by voting me down they affirm the very thing they seek to destroy. Socrates was a real bastard wasn’t he.

The truth is as I’ve stated it, whether its diamonds or doorknobs, the basis of fact remains the same. Tell the people of Chechnya that the politics of repression have nothing to do with real estate values. The day before the repression started people were probably out looking at condos. Think it can’t happen here? Have you ever thought about before now?

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‘huh, you mean my current monthly payment at 2.25% won’t last the full 35year term?’

‘but the mortage broker at the Dominion Lending Centre told me my payment would be $2,000, I didn’t know it could go up’

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Off-topic? I have news for you: this bubble “topic” had been talked to death about three years ago. I believe the reason realpaul is being voted down is simple penis envy… because most of you had nothing new or original to say on this blog for the last three years.

Is it a bubble? Really????? Guess what.. it was a bubble yesterday, it is a bubble today and it will be a bubble tomorrow, too. And if you still want to discuss it then you have some serious compulsive-obsessive disorder and you should see your doctor.

Sticking to the “topic” makes you about the most boring person on this planet.

Being off-topic is what keeps this blog alive.

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——

Because – whether we agree with him or not – he comments are usually off-topic.

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Right, now that $42,500 wage will buy you water to service your storage locker in maple ridge.

Once RealPaul’s other old senior buddies’ health start failing they will have no choice but to move into low income seniors housing while their worthless houses get sold in a flat market for 100-150 times the rent.

If you want to see what will happen google “bubble las vegas, miami, rich people, rich immigrants, different here)

http://www.city-data.com/forum.....urb-6.html

““This recession proves that Las Vegas’ tourism and growth-based economy isn’t ….. “’It doesn’t feel like the rich people are taking over any more,’ said Shawn Wilson …. Better yet, with them will go many of the millions of people here– not always … easing” of California’s massive influx of illegal immigrants. …”

“From KTAR in Arizona. “Arizona’s housing market is not in recovery mode, according to a new Arizona State University report. Real Estate Professor Jay Butler said the report shows more than two-thirds of the housing market is being driven by home foreclosures and sales of foreclosed homes. The median home price still is very low, at $140,000. That was about $40,000 below what it was in September 2008.””

Just wait houses in Coquitlam will be worth $98k (about what most buyers actually paid) and houses in Burnaby will be $200k-$400k

West Side will be back to $500 to $600k

about what a city with a median income of $42,500 should be.

Come to Vancouver and get shot, get some good crack or heroine and be world class!

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Nice. Just curious: could any of you boneheads share why you keep voting realpaul down?

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I heard on the radio this evening that the residents of the Cowichan valley will be wearing their Native made Cowichan sweaters along the Olympic Torch Route when it passes through the area.

The reprter says the Security crazies in yellow striped pants have gone into full defence mode and are swooping down on the bad ’sweater wearers’ in the valley banging on doors en masse as a force of intimidation for I guess this anti Olympic ‘wearing of sweaters’.

I can see it now, a little kid wearing a Cowichan sweater his grandmother knit him gives the thumbs down to an IOC limo passing through downtown and gets tasered.

Is it April Fools day or something for the radio guys. Can the cops really have gone this insane.

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Only useless cheerleaders.

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Yeah, it never ends, does it?
Couldn’t believe it when I read that latest bit of gravy.

What a double dip…buy tickets to make it look sold out yet these same parties get to go on our dime.

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Helmut is making a very simplistic prediction. All he is pretty much good for is predicting trajectories. I believe he has been with Central since 1997. As he seems to make his predictions based on recent trends, he would only be wrong once in the last 12 years as we have only had 1 inflection point (last spring).

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They’re also talking about those same ticket holders as being able to sell those tickets? Will anyone be monitoring the Libs and COV gladhanding of ticket gifts?

Is their no accountability? isn’t it bad enough that schools will be forced to close for the two weeks of Olympic parties so that “parents can take their kids’. Please I’m going to puke!! For the majority of parents its a huge personal expense to find daycare to cover this ‘once in a lifetime opportunity’.

How do the guys in jail awaiting trial feel about the courts closing during this time. Talk about justice delayed and denied. Will the justices and lawyers be getting tickets too?

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Who says that our correction has ended? It could be argued that it was just getting underway when the gov’t intervened with low interest rates and reinflated the bubble.

Let’s give it some more time and allow interest rates to rise to see where we go from here. If I was a betting man, I’d put money on declining prices.

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Yes….its very Eastern -centric.

Didn’t Harper and Co. create a special Federal bureacracy that isa focussed on Ontario( where the votes are?)

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http://worthwhile.typepad.com/.....theme.html

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1. The time frame for the Bank of Canada holding pat on the prime interest rate will have expired
2. HST will be implemented in BC and be applied to new housing
3. The Olympics will have come and gone
4. Pent up demand created from sales falling off a cliff in 2008 will have long since been satisfied

I don’t know how anyone can connect these dots and plausibly predict higher RE prices.

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Hmmm, I wonder what they’ll find.

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“Bank of Canada monitors real estate surge”

http://tinyurl.com/yl2z6qe

Excerpt:”We expect, and we have confidence in, prudence from Canadians. We remind people that borrowing is for the period you are going to borrow, not just for the moment you take out the loan.”

My comment: what are you smoking, pal?

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“Sub prime is any loan below prime. If a bank refuses you a loan, and CMHC gives you one, the loan is sub-prime.”

“what few Canadians realize is that the housing market has avoided collapse (prices are down 32 per cent in the U.S.) because the Harper Conservatives directed the CMHC to change the mortgage rules to effectively make the Canadian government the biggest sub-prime lender in the world.”

“In an effort to prop up the real estate market in 2008 (when affordability nosedived) the Harper government directed the CMHC to approve as many high-risk borrowers as possible and to keep credit flowing.”

“This is the ticking time bomb Prime Minister Stephen Harper has tossed at the Canadian taxpayer. Why? So that he can maintain the fiction that he is a good economic manager and win a majority in the next election. The problem is no opposition political party wants to expose the looming disaster and risk being responsible for a dramatic fall in house prices.”

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