Who wants a housing market crash?

You might want a housing market crash (or ‘correction’ if the word ‘crash’ is too strong), but that’s likely because you want to buy a house.

It’s not hard to believe that the majority of Canadians don’t long for a housing market correction, especially those who own property.

It feels good when your equity rises right? What’s not to like?

The Financial Post looks at these feelings, and whether they are sensible or not.

They split home-owers into three categories: First time buyers, young owners with growing families and older owners thinking about downsizing.

They say the first two groups would actually benefit from a crash.

If you’re wondering why most homeowners should be begging for a housing market crash read the article here and let us know if you agree with their reasoning.

 

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6 years ago

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Bull! Bull! Bull!
Bull! Bull! Bull!
6 years ago

@BWilson

Asians don’t like to come out in the hot sun. Hence the welder masks and night markets. We are an Asian city and Asian rules apply.

“Sales have noticeably decelerated from June levels, a slight downtick in the second half of July (relative to the first half) and sales will be down year over year.”

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Romeo Jordan
Romeo Jordan
6 years ago

BWilson

Solid observation.

Will be clear to all in a few months.

Capitulation is for pussies and McLovjns.

BWilson
BWilson
6 years ago

Sales have noticeably decelerated from June levels, a slight downtick in the second half of July (relative to the first half) and sales will be down year over year. I wonder how the RE pumping Vancouver Sun, Province, Global, BMO economists etc. will spin that?

Units under construction in Metro Vancouver are higher than they’ve ever been save for mid 2008. Don’t capitulate, I’ve seen a few people who know better buy this spring (under no illusions that they’re making a savvy financial decision, just for pure lifestyle reasons).

Insanity
Insanity
6 years ago

Here is what wikipedia says about Mao. I think I would take him over how they describe a slave master. http://en.wikipedia.org/wiki/Mao_Zedong A controversial figure, Mao is regarded as one of the most important individuals in modern world history.[2] Mao is officially held in high regard in the People’s Republic of China. Supporters regard him as a great leader and credit him with numerous accomplishments including modernising China and building it into a world power, promoting the status of women, improving education and health care, providing universal housing, and increasing life expectancy as China’s population grew from around 550 to over 900 million during the period of his leadership.[3][4] Maoists furthermore promote his role as theorist, statesman, poet, and visionary.[5] In contrast, critics and historians have characterised him as a dictator who oversaw systematic human rights abuses, and whose rule is… Read more »

Insanity
Insanity
6 years ago

Hmmm….owning slaves vs. murdering 50 million people. Great analogy, bro! You brought up the topic of not doing business with countries who have bad people on their banknotes. Seems like a silly idea to me. George Washington had 9 of his own slaves and his mug is on the most widely circulated US banknote. http://en.wikipedia.org/wiki/Treatment_of_slaves_in_the_United_States Slaves were punished by whipping, shackling, hanging, beating, burning, mutilation, branding and/or imprisonment. Punishment was most often meted out in response to disobedience or perceived infractions, but masters or overseers sometimes abused slaves to assert dominance. Slave masters even beat pregnant women, devising ways to do it without harming the baby. Slave masters would dig a hole big enough for the woman’s stomach to lay in and proceed with the lashings. The mistreatment of slaves frequently included rape and the sexual abuse of women. Some… Read more »

gah
gah
6 years ago

Romeo Jordan Says:
July 14th, 2011 at 12:52 pm 91
I warned you shitheads that the market would show cracks and then crash this summer.

So…here it is.

Enjoy.

xoxox

Romeo Jordan

Romeo Jordan
Romeo Jordan
6 years ago

17,000 is going to feel great.

This is a bullshit infused market.

Shit is getting sifter in many key areas and metrics.

Shitstorm gathers steam, for those acute enough to see it for what it is.

I sense an epic meltdown is taking shape.

paulb
6 years ago

New Listings 238
Price Changes 109
Sold Listings 117
TI:16964

http://www.paulboenisch.com

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Best place on meth
6 years ago

People who do not read the Tyee:

Realtors/real estate marketers
Mortgage brokers
Developers
Luxury car dealers

Top politicians probably do read it, and thank you Christy and Gregor – your “no” votes have been recorded.

patriotz
6 years ago

@94: “I doubt the reaction would be any different now.”

If anything I think it would be stronger, since the RE sector was smaller than, and RE constituted a much smaller % of household net worth.

The poll does give a good idea of who reads Tyee.

Ford Prefect
Ford Prefect
6 years ago

#93: Perhaps the Tyee Poll shows the utter unreliability of online polling. When the BC NDP government tried to make moves in that direction it was howled down in outrage. I doubt the reaction would be any different now.

VMD@work
VMD@work
6 years ago

The Tyee Poll: Should There Be More Restrictions on Foreign Ownership of Canadian Real Estate?

Current responses:
Yes 95.59%
No 4.41%
Total 658

Bull! Bull! Bull!
Bull! Bull! Bull!
6 years ago

@Many Franks

after reading your comments it’s clear to me that you are totally unfamiliar with his work, or are not capable of understanding it at the most basic level.

we are still a democracy, and i suppose a price for our freedom is that everyone is free to speak their mind, whether they deserve our attention or not.

research chair in geography, published researcher, published author, UBC professor, or anonymous internet poster know as “Many Franks”.

SMH

Yunak
Yunak
6 years ago

Guaranteed SFD Prices will go up. It offers all the temporary residents in the country Permanent Residence within a month! All they have to do is find a job.

Would fake jobs in dim sum restaurants, massage parlors and other “black-market-services” count?

Realtor
Realtor
6 years ago

Aggregator:

Enough of the stats. There are 2 groups of people:

1) People like you who know the truth and people in the Gov and FIRE industries who also know the truth yet confuse the general public.

2) The confused people. Societies need people like these so a hierarchy can develop.

So, your stats are great but they fall on confused ears.

Many Franks
6 years ago

@@Bull! Bull! Bull!: Shocked? I’ll try not to use the “i” word again.

I already said it on the other thread linked above. From what I can read without paying him, he’s mistaking correlation for causation, and he’s using data that ends in 2002. For a guy in his position to do that is idiotic. (Oops.)

Realtor
Realtor
6 years ago

Space 889:

The new Express Entry Immigration program is opening up on January 1st, 2015.

Guaranteed SFD Prices will go up. It offers all the temporary residents in the country Permanent Residence within a month! All they have to do is find a job.

Guaranteed. Now prove me wrong.

Realtor
Realtor
6 years ago

Love it when the masses are so confused.

Let the good times roll. Prices are going up? Oh, I’m wrong you say????

Just Watch. Just like the last 12 years. Not much confused people can do about it.

Bull! Bull! Bull!
Bull! Bull! Bull!
6 years ago

and that’s an ad hominem attack. instead of attacking the argument you are attacking the person making the argument.

they say there is no data and no proof of HAM. David Ley, provides the proof. then they say David Ley is an idiot.

wow…

such ignorance. such narrow mindedness. it’s shocking and disgusting.

Many Franks Says:
July 15th, 2014 at 2:03 pm

@Bull! Bull! Bull!: You left Oxford out of that appeal to authority. My specific criticism is in the linked post. He has an axe to grind, and he’s grinding it on the dull end.