TD: Houses 10% overpriced nationally

Somebody over at TD bank looked in their crystal ball and saw interest rates rising.

They say that a combination of factors including increasing supply, softening demand and the expectation of rising interest rates mean that home price across the nation are overvalued by about 10%.

It says markets such as Toronto, Vancouver, Montreal and Ottawa are likely more overvalued than markets in the Prairie and Atlantic regions, and will likely see more of an impact.

The national housing market and worries about a real estate bubble have been key concerns for policy-makers for several years.

Recent indicators have suggested the market may be headed for a soft landing instead of a bubble bursting, but concerns have persisted.

Full article here.

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tedeastside
Member
tedeastside
lololololololz
Guest
lololololololz

“I see, so anyone who questions any part of Canada’s immigration system is a Nazi. Thank you for your thoughtful and nuanced contribution to the discussion.”

NOPE! Anyone who targets a specific race of people and claims to be “infuriated” by what they are doing is the problem.

Substitute HAM for Jew Money and ya, the original post sounds like a NAZI manifesto.

If you don’t understand why that is wrong, you likely weren’t brought up right.

“It is not racist, but we need to stop this flood of economic immigrants. Yes most of them are Jews. We need to stop them. They are still the minority and many are not even immigrants yet, so they don’t even have a vote.”

Yalie
Guest
Yalie

@117

Here mate, I fixed it for ya! Welcome to 1930s Nazi Germany you sick phuck where economic stagnation created scapegoats of convenience!

I see, so anyone who questions any part of Canada’s immigration system is a Nazi. Thank you for your thoughtful and nuanced contribution to the discussion.

Egg Hunt
Guest
Egg Hunt

Space889, Just to add, I think again,
Flow-through makes more sense now.
I get more than 40% tax refund first, so I
Can take up to 40% loss on capital.
If I get close to principal back, it’s great.
Only thing is it is very illiquid investment,
big pressure on price upwards, Sentry isssues
one of the best Flo-Thru I heard.

Egg Hunt
Guest
Egg Hunt

>#120, Space889

Thanks.
I considered Flow Through before from Sentry or Sprott, but
found out only benefit maybe to get tax refund in first year.
(yes, it’s great, you can purcahse beyond your allowable RSp limit)

High risk investment illiquid, and cannot claim capital losses.
Besides capital gains are 100% taxable (not 50% of gains)

Maybe timely now to enter? seeing energy price these days…
Will look at this option again

Newcomer
Member
Newcomer

Thanks, Balanced markets now!

space889
Member
space889

@YVR – Thank you! Also more of the taxes immigrants pay goes directly provincial and city government rather than federal.

@Egg Hunt – There are investment vehicles like mining or oil & gas flow throughs that are purposely built for rich people to save tax on.

@Snake – I once also saw a list of detailing the Clintons body count and I think it was into hundreds!!! Pretty scary the trail of destruction left behind by these power hungry politicians.

lololololololz
Guest
lololololololz
Seafair dweller
Guest
Seafair dweller
Immigration and racism are touchy subjects. Here in Vancouver, where it may be possible (open to debate) that our immigration program has affected the overall affordability of housing, the topics are especially delicate. The Canadian investor immigrant option has been suspended, pending futher review. In the opinions of many, is of questionable morality to “sell” the right to live in our country – this policy could be seen as both abusive of and abusable by newcomers. The Quebec investor immigrant stream has re-opened, and according to an article in the Vancouver sun (posted on this site a few months ago), about 90% of the applicants eventually settle outside of Quebec. However, Quebec gets to use the $800,000 no-interest loan and keep the sizeable (in the thousands of dollars) application fee. If you personally believe that the investor immigrant stream should… Read more »
Balanced markets now!
Guest
Balanced markets now!
@Van Coffee Here mate, I fixed it for ya! Welcome to 1930s Nazi Germany you sick phuck where economic stagnation created scapegoats of convenience! “I post here infrequently, but read the comments here daily. 10 years ago I was a Jew money denier. Now I have little kids, and one of them is in a private pre-school in the west side and I have spent the last few years living on the west side. Unless you live over there or spend considerable time over there, I can see how people would still deny the existence of Jew money. I was at an event recently for my daughter’s pre-school. Not all parents are Jewish, don’t get me wrong, however it is probably close to 50%. I was speaking with one mother there. Here are the facts of her situation. Her spoken… Read more »
Burnabonian
Guest
Burnabonian
The answer to our problems is data, and data is upon us now. “Again I tell you, it is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.” Rhetorical questions for these hypothetical new friends of ours; the ones who can drop a few mil on a bungalow in wherever and not have jobs and be eligible for social assistance and subsidized medications. While sending their kids to private school and flying first class across the Pacific a lot. The ones who have somehow “earned” about a bajillion dollars (or a thousand years’ median wages) in their third-world homeland (it doesn’t matter where it is or who the people are — my only concern is the ones who defraud Canadian taxpayers while suckling at the… Read more »
Johnny-boy
Guest
Johnny-boy
From Bo Xiaia’s article. So now we know what Canada’s soul is worth. $7 Billion .Actually not even that , just the interest on $7 Billion which at today’s rate is $70 Million a year. We have sold ourselves for peanuts and are helping another country’s wealthy escape having to spread their wealth around. Good job Ottawa. “One document, dated January 8 last year, showed there was a backlog of 53,580 Hong Kong-based applications for Canadian federal investor visas. That represented more than 70 per cent of the global backlog. And attempts by Ottawa in 2010 to tighten access to the coveted visas by doubling the wealth criteria had the effect of increasing Chinese domination. In 2011, applications sent to the Hong Kong consulate made up 86 per cent of the global total. Analysis of arrival data suggests that about… Read more »
Snake
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Snake
Snake
Guest
Snake

gah Says:
Are you impressed by Donald Trump? Here’s a tweet by him:
How amazing, the State Health Director who verified copies of Obama’s “birth certificate” died in plane crash today. All others live
————————————–
Everybody in the plane survives except him (State Health Director)what do you expect people to think in that situation?

Fuddy, 65 was among nine people in a Cessna that crashed into the ocean Wednesday, shortly after leaving Kalaupapa Airport on the island of Molokai about 3:15 p.m. The eight others on the plane, including the pilot, were rescued, but Fuddy “remained in the fuselage of the plane,” Honolulu Fire Capt. Terry Seelig told KHON-TV. “It’s always a difficult situation when you’re not able to get everybody out.

https://www.google.ca/search?hl=en&noj=1&q=State+Health+Director+who+verified+copies+of+Obama’s+“birth+certificate”+died+in+plane+crash+today.+Al&oq=State+Health+Director+who+verified+copies+of+Obama’s+“birth+certificate”+died+in+plane+crash+today.+Al&gs_l=serp.12…1996.3032.0.5422.17.6.0.0.0.0.0.0..0.0….0…1c.1.34.serp..17.0.0.uRyDJ7vBDBg

Snake
Guest
Snake

lololololololz Says:
Tedeastside If you are going to claim you live in Santa Monica, at least turn on your privacy settings in Facebook, which clearly show you live in Vancouver, and post on Vancouver related topics daily

——————————————-
will you please post a link to his Facebook page ?

YVR
Guest
YVR
@100 “Most of the commentators know Chinese mainlanders just want to launder their ill-gotten gains here, dump their families, not pay taxes and take advantage our generous social safety net and just want to use us as an insurance policy.” 1. Buying a house in Canada does not launder money any more than putting it in a Canadian bank account or buying equites launders money. A house is the most transparent and illiquid place you can put cash. Hardly the best place to stash ‘ill-gotten’ gains. 2. Buying a multi million $ house and luxury cars is dumping your family? Wouldn’t just leaving them in China and walking away be an easier and less costly way to ‘dump’ them? 3. I don’t think moving your family to Canada gets you out of paying taxes in China if that is where… Read more »
Bo Xilai
Member
Bo Xilai

Headline from South China Morning Post

Exclusive: How mainland Chinese millionaires overwhelmed Canada’s visa scheme

http://www.scmp.com/news/china/article/1422480/exclusive-how-mainland-millionaires-overwhelmed-canada-visa-scheme?page=1#comments

Funny you have to read about how crooked mainlanders are gaming Canada’s immigration system from a Hong Kong newspaper…

Most of the commentators know Chinese mainlanders just want to launder their ill-gotten gains here, dump their families, not pay taxes and take advantage our generous social safety net and just want to use us as an insurance policy.

YVR
Guest
YVR

@107 “If they buy a $5 million house they pay over $50K in PPT on the sale and then $14K per year in property taxes. One rich immigrant would pay 109K in direct taxes upon arrival”

Correction that would be $98K in PPT and $147K in direct taxes upon arrival.

Son of Ponzi
Guest
Son of Ponzi

The dominos are starting to fall:
Singapore, HongKong , Vancouver and Toronto..

YVR
Guest
YVR
Re: The argument a rich immigrant pays no taxes and uses the social system and schools for free is bunk. The average wage earner in Vancouver making $70K per year might pay $20K to 25K per year in taxes total including income taxes, property taxes, sales taxes, etc. Compare that to one 300K Italian sports car (or a combination of a couple of high end German cars totalling 300K) would bring in sales taxes of $43K alone. If they buy a $5 million house they pay over $50K in PPT on the sale and then $14K per year in property taxes. One rich immigrant would pay 109K in direct taxes upon arrival with a car and house purchase without factoring in the spin offs on the income taxes paid on the $175K realtor commission or the car sales persons commission.… Read more »
WhipMaster~kerthwack
Guest
WhipMaster~kerthwack

Wow…. all these people in this real estate forum!
This is where it’s at!
I am sure that you’ll
agree with me….
Vancouver is the Best Place On Earth! 🙂

Newcomer
Member
Newcomer

Vancouver Immigration Info. Yawn.

southseacompany
Member
southseacompany

Barbara Yaffe tells us “Barbara Yaffe: Don’t bank on Vancouver’s real estate bubble bursting”

http://www.vancouversun.com/business/Barbara+Yaffe+bank+Vancouver+real+estate+bubble+bursting/9478392/story.html#ixzz2sc1tv0ct

But, then she ends her article by saying “And so, there’s really no telling what will happen this year when it comes to real estate in Greater Vancouver.”

So which is it Barbara? ‘Don’t bank on a the bubble bursting’ or ‘there’s no telling what will happen’?

Oh, and notice she did call it a bubble.

born a Vancouverite
Guest
born a Vancouverite
@83 The federal government has stopped accepting applications for the immigrant investor program since 2012 because they are reviewing the program. Perhaps the federal government has realized the costs outweigh the benefits. Here are some conclusions taken from the report you cited: “It is not possible to precisely estimate the additional economic impact resulting fIrom the use of investor funds, due to the lack of available information” “investors and their family members will consume public services such as health care services and infrastructure …. As a result, society will have to assume additional costs to provide the public services necessary to meet these additional needs” And finally, the study conducted a survey of the investor class immigrants and “71% of respondents conducted all of their business activities outside of Canada. This figure also explains the fact that two thirds of… Read more »
Son of Ponzi
Guest
Son of Ponzi

#69
the dominos are starting to fall.
Singapore, HongKong, Vancouver and Toronto.