a good friend of mine works in Richmond General Hospital emergency room. there was a massive spike in suicide attempts in the last few days!! apparently knifes and pills are the preferred method 🙁

Case Shiller huge leap upwards, finaly US RE is getting in the line with Canadian. All good.

Case Shiller has severe lag. Prices today have likely topped for rest of year.

RE Flippers.

If CHA backed loans turn out to be a casino credit card for penniless idiots to roll the dice on condo flips with taxpayer money, there really needs to be a crackdown with very broad and brutal consequences.

The law should be changed to make CHA loans non-dischargeable in bankruptcy, the same as student loans. CHA is supposed to fulfill a social need the same way student loans do. Therefore, the consequences to borrowers who abuse the system should be similar. Make them pay back every penny until the day they die, whichever comes first!

Dallas & Denver at all time high
if you just listened you would be riding high too bears.

my god the trolling.

i almost want this bubble over just to get rid of the trolls.

Home Hardware for $399.99 Alec

Don’t get too excited about Dallas hitting new highs…

http://www.realtor.com/realestateandhomes-detail/5716-Charlestown-Dr_Dallas_TX_75230_M76108-34874?row=377

That is what $1.35 million gets you in Dallas – 6400 sqft of luxury on close to half an acre. Dallas and Denver did not have the crazy price appreciation that most of the rest of the country had.

The law should be changed to make CHA loans non-dischargeable in bankruptcy, the same as student loans.

That’s a terrible idea. No loans should be exempt from bankruptcy, including student loans. Tuition and student loan debt have grown to massive bubble proportion in the last few years precisely because of policies like this.

Next article – “The housing rental market bubble”

Bagholders sympathizing with Bagholders?

“The PBOC is giving the market “a pill to soothe the nerves,” Xu Gao, Everbright Securities Co.’s Beijing-based chief economist. “The message is clear: the central bank doesn’t want to see a tsunami in China’s financial markets and market rates will drop further.”
http://business.financialpost.com/2013/06/25/china-just-gave-markets-a-pill-to-soothe-the-nerves/

sorry bears no crash. LOL

here I go again:
Are you enjoying the shitty weather in the best place on earth ?
Don’t forget to go skiing in the morning, golfing in the afternoon and sailing in the evening. All in the same day of course.

Re: 17 Laurey

Just blowing more air into the bubble and delaying the Day or reckoning. More damages when it pop.

@VanRent
when? are you gona be alive by that time?

@8: It’s interesting. During the spring bounce, we had bullish commenters offering actual reasonable discourse (never came close to touching the price:income problem but whatever! it was constructive).

Now that the bounce is over it’s all just mindless invective. Every time I see one of these posts I imagine it was written by some specer levered to the tits on a handful of illiquid flips desperate to make someone else feel as bad as they do. Sad, really.

“mindless invective”??

care to elaborate on today’s Case Shiller massive gains?

#17.
yeah just pop a pill and everything will be fine tomorrow.
This is how most disillusional people deal with problems.
Sorry people, but there are no magic pills and no sugar daddys.
You will reap what you sow.

# 20.
I think almost all of the bears on this blog will still be alive 6 months from now.

“I think almost all of the bears on this blog will still be alive 6 months from now”

calling poster “Blast from the Past” for some posts from circa 2007 LOL

Rather than concentrating on the individual unsuccessful flippers, I think it is more important to think about what happens to Canada. I doubt that foreign money will declare bankruptcy, or go on social services. Foreign money will lose enthusiasm for Canada and leave faster than (insert), then spread the word back home that Canada RE is poison. Buyers will be scarce and prices will plummet. For all the bears sitting on the sidelines, it isn’t a good thing because credit will be tight and financing won’t be available.

What we are witnessing, is the 20 year bullrun in the China shop coming to a crashing halt.
The Chinese government is trying desperately to shore up the RE and stock markets.
Remember, after every party, there is a hangover.
Don’t buy the myth that popping Aspirin will make the pain go away.

China crash is over son.

Can someone who has access to the “man behind the curtain” let me know what MLS V1007009 sold for. I’ll send some good karma your way.

RBC says 10-year bond yields will be nearly twice this years low by end of year.

http://business.financialpost.com/2013/06/24/economists-work-to-ballpark-bond-yields/

Scary stuff!

#30
Sold for $867,500 on the 10th of June.

Breaking News: Obama said Keystone is OK. Canada could not get better news. Oil bonanza continues,

today is all great news coming from US with Case Shiller’s parabolic rise and from China dropping the rates.

Henry Ford Illness for $600, Alec

#30
for how much was it listed?

THE SKY IS FALLING, THE SKY IS FALLING!!

#899k

# 20
I think almost all of the bears on this blog will still be alive 6 months from now.

I don’t know, I might die laughing at these stupid cheerleaders any minute now.

Patriotz,
The challenge is to separate the speculators from the “true” homebuyers.
A penalty payment for those who sell before a certain period should be charged.
HongKong has a 15% tax if you sell before 2 years.
This would curb speculation and give the government extra revenue.

On top of free University, poor students in Germany and Austria get a yearly stipend which they don’t have to pay back as long as they finish their studies with a certain grade average.

I think that student loans default have skyrocket because graduates can’t find decent paying jobs to repay the loans.

space889: For housing it is easy, just reinstate the original CMHC price ceiling that was removed in 2003. I believe it was $350k for Vancouver, which even 10 years later is a bit high for a program helping lower income Canadians. However, going back to $350k would be a very positive first step for true housing affordability.

“On top of free University, poor students in Germany and Austria get a yearly stipend which they don’t have to pay back as long as they finish their studies with a certain grade average.”

The downside is that they have to go to school in Germany. You’d have to pay me to do that too.

Anon,
Read the series “The reluctant Hegemony” in the latest The Economist.
We’re all Germans now.

Maybe I’ve missed a comment on an earlier post. But, please, someone from a bank or mortgage broker, tell me the following. 1) How much re-finance activity is going on now (my guess is zero), 2) How much your actual pre-approvals are dropping for the same income because of higher rates, and 3) what volumes of new mortgage applications you are seeing now (my guess is very close to zero). I might be wrong…but please share.