Harper: No Bubble in Canada

Getting tired of the word ‘bubble’ yet?

With all the news stories and predictions of an Canadian real estate market crash, it’s time for the leader of this great nation to chime in with his opinion:

…Harper told a New York business audience that he did not anticipate a housing crisis in Canada, and that that there was no comparison between the Canadian housing market now and the U.S. market before the crash of 2008.

He said only  small percentage of Canadian households would be vulnerable to interest rate hikes or a downturn in prices.

On the flipside of the argument is a securities analyst with a book to sell and a negative message:

In an interview published in the Globe and Mail today, MacBeth predicts a serious crash in house prices as soon as this coming spring, and advises people with large mortgages to sell, and rent.. His book, When the Bubble Bursts, forecasts a drop of up to 50 per cent in housing prices.

Read the full article here.

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Bo Xilai
Member
Bo Xilai

I guess Crispy Clark’s LNG dreams are going up in smoke… Article from Financial Times:

http://www.ft.com/cms/s/0/908e5616-4454-11e4-8abd-00144feabdc0.html#ixzz3EJdeNYXH

Petronas threatens to pull plug on $10bn Canada LNG project
By Jeremy Grant in Singapore

Petronas, Malaysia’s state-owned oil and gas group, is threatening to pull the plug on a $10bn liquefied natural gas project in Canada, saying new taxes and rising competition from a slew of US shale gas projects threaten its viability.
The warning is the first sign that the rapid development of gas ventures in the neighbouring US may be undermining the prospects for Canada’s gas export projects, many of which are destined to supply energy-hungry Asian economies.

tedeastside
Member
tedeastside

so vancouver the city that constantly chest thumps how tolerant and diverse it is…then their main newspaper makes fun of a black hockey player then the VPD pull over and harass a Black man for absolutely no reason other than being Black and driving a nice car

vancouver is a pitiful bush league backwater and always will be, a loser small town that wishes it mattered in the world ….cool and talented people will never move to that dump

tedeastside
Member
tedeastside

and people wonder why theres no pro sports or music scene in vancouver

the people most talented at it, dont want anything to do with vancouver

patriotz
Member
there was no comparison between the Canadian housing market now and the U.S. market before the crash of 2008. The peak of the US housing market was in 2006 and more than half of the decline had already taken place before the financial crisis of 2008. So I guess you can say there is no comparison, although I don’t think Harper intended it that way. Like most Canadians, Harper doesn’t distinguish between the US housing bust which took place from 2006 to 2010, and the financial crisis of 2008 which was a result of that bust. You may speculate as to whether Harper is really that ignorant or is just pandering to people who are. Let us remember that when he called that fall election in 2008 he insisted that the economy was just fine. Another election is coming up… Read more »
patriotz
Member

Ottawa seeks tougher stand on firms that break new foreign-worker rules

The names of the banned employers would be made public, the proposals state. There are currently four companies listed on the government’s so-called TFW public blacklist, with no new additions since early June, three weeks before Employment Minister Jason Kenney unveiled his crackdown on the program.

The song remains the same.

crabman
Guest
crabman

A Masters in economics, and this guy can’t see a problem with the Canadian housing market?!

patriotz
Member
Poll
Guest
Poll

If you think tedeastside is an asshat that posts the same drivel day in and day out, please vote this post up.

If you like tedeastside, and the insight he brings to the group, please vote this post down (please note, you’ll need to put down your lighter, or your crack pipe, to click the down arrow).

Roy
Guest
Roy

So we got Harpo, the CMHC, Poloz, and Joe O on record stating they don’t see any bubble in housing.

Who said it before “It’s never official until its officially denied.”

At least Bernanke in the US denied it in 2005, three years before the crisis. Here we got our clowns denying it even as the US Fed and BoE are plotting when and how fast rate increases will begin next spring.

emmi
Guest
emmi

So when is the next election likely? I want Harper to be in there when the crisis hits.

Corruption
Guest
Corruption

So, who do you believe?

The man with a book to sell, or the man with the country to sell (to China).

Boombust
Guest
Boombust

Harper is a sociopath; lying comes quite easily to people like him.

chilled
Member
chilled

Poll Says:
September 25th, 2014 at 9:15 am 8

If you think tedeastside is an asshat that posts the same drivel day in and day out, please vote this post up.

If you like tedeastside, and the insight he brings to the group, please vote this post down (please note, you’ll need to put down your lighter, or your crack pipe, to click the down arrow).

++++++++++++

Me thinks you should head over to Garth Turners blog where “group think” and “mobbing” is a prerequisite practiced with surgical precision.

@chilled @gt
Guest
@chilled @gt

Heard chatter that Garth is going to claim victory on his blog. He calls for a 30% correction over the long term.

He claims that RE has already corrected 10%.

He will claim that the US is in recovery and the USD has gained 10% over the CDN….so now total 20%.

He will figure out the last 10% over the next few years.

Unbelievable that he continues to deny the influence of foreign money and temp immigration as the major factors.

Politicians are sneaky.

HAM truther.
Guest
HAM truther.

The CMHC does not exist. It is a hologram. $1 trillion was not released into the housing market. Interest rates are not low, they are high. Prices in other parts of Canada have not risen. These are all is a lies to cover up the selling of Vancouver to HAM

And two planes did not fly into the twin towers

Son of Ponzi
Guest
Son of Ponzi

Bruce Allen and Pat Quinn are peddling Tsawassen Springs on CKNW.
They claim it’s only 30 minutes to downtown Vancouver.
You’re lucky if you get through the tunnel in 30 minutes.

Son of Ponzi
Guest
Son of Ponzi

It appears that Beautiful Empty Homes in Vancouver is gaining traction.
I believe that the site is providing an important social service.
Show your support?

Zero Down Forty
Guest
Zero Down Forty

Where’s the ‘Over-Inflated Homes Full of Overreached Lenders Subsidized by Cheap Money’ website?

It’s more relevant, but would never be promoted by local media. Of course, local media are happy to jump on any story that distracts from the real cause of this bubble.

Son of Ponzi
Guest
Son of Ponzi

Harper can’t see the bubble, because he lives in a bubble.

Son of Ponzi
Guest
Son of Ponzi

Where’s the ‘Over-Inflated Homes Full of Overreached Lenders Subsidized by Cheap Money’ website?
—————-
Why don’t you start one?
You could be the next Garth Turner.

Dave
Member
Active Member

Number 14, I can’t tell if that’s sarcasm or a line that Garth is actually going to use.

ham
Guest
ham

many here are just plain out frustrated. So u become racist. I bet u punks wouldn’t say these words in front of a chinese guy.

van guy
Guest
van guy

Ham:

I agree with u.I am Caucasian and I don’t like some of the comments here. I apologize on behalf of my people. Its sad that it has come down to this s.

patriotz
Member

@14: “Unbelievable that he continues to deny the influence of foreign money and temp immigration as the major factors. ”

Why unbelievable? The burder of proof is on those claiming that these are the major factors.

paulb
Member
Active Member

New Listings 190
Price Changes 71
Sold Listings 100
TI:16008

http://www.paulboenisch.com

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