Household debt near record high

Southseacompany pointed out this article in the Chicago Tribune:

Canadian household-debt ratio nears record as mortgages grow

“Home sales and prices have shown unexpected strength as the lowest mortgage rates in decades spur demand. ”

“With mortgage debt rising, the economy will be exposed when interest rates rise, said Andy Nasr, senior portfolio manager at Calgary-based Middlefield Capital Corp. which manages about C$4 billion ($3.6 billion), including real estate stocks.

“The misconception is that ‘Well it’s OK because people can somehow afford it,’” he said in an interview at Bloomberg’s Toronto office Friday. “They can’t.””

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Yunak
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Yunak

“With mortgage debt rising, the economy will be exposed when interest rates rise, said Andy Nasr…

The irony is that this saying goes for several years, same as global warming.

Just Jack
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Just Jack

It’s like a plane heading towards a mountain. The aircraft control tower is warning the plane but the people in the plane keep saying there is nothing to worry about as the tower has been wrong for the last hour.

ostritch
Member
ostritch

Your prime minister will announce new foreign wealth investor visa on his November trip to China.

Insanity
Guest
Insanity
Canada is getting lots of attention from outside our borders. All for the wrong reasons. John Mauldin: Thoughts from the Frontline – What’s on Your Radar Screen? O Canada, Where Are You Headed? My friend Jared Dillian, ex-Wall Street trader and now the editor of a great newsletter humorously titled The Daily DirtNap, has been writing about the problems of Canada for the last several months. Some of it is anecdotal, as in four of the top five major bank CEOs have resigned in the last year, at relatively young ages. Just prior to the Canadian banks getting downgraded by S&P last month. Go figure. Writes young Jared: My thoughts: McCaughey is the – not kidding – fourth Canadian bank CEO to retire in the last year. RBC, TD, BNS, and now CIBC. And these guys are not that old.… Read more »
VanRant
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VanRant

@#3
Who needs guns and tanks when you can invade the country with dirty money with the blessing of the Government.

flaneur
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flaneur

former ex-MP Emerson, an economist, is doing well as an adviser to China’s Sovereign Wealth Fund, China Investment Corporation. now if you are a trained economist and BM ridiculed you for not having a direct line to Obama, and 2015 is around the bend, it makes sense to focus on your training. there are no facts, only interpretations.

would-be buyer
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would-be buyer
crabman
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crabman

The situation we’re in right now under Harper really reminds me of the situation the US was in under Bush. I don’t know why Conservatives think it’s a good idea to pump up an economy with a housing bubble and massive household debt. Are they that stupid or are they just pricks?

Heard Herd selling
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Heard Herd selling

The central banklords are no dummies, lower rates watch sheeple load up on debt then up the rates and hold them by the balls, if your in debt start worrying

Bo Xilai
Member
Bo Xilai

Barbara Yaffe: Foreign homebuyers targeted by mayoral candidates

This was in South China Morning Post last week… Nice to see the Vancouver Sun rely on Hong Kong newpapers for copy and story ideas….

http://www.vancouversun.com/opinion/editorials/Barbara+Yaffe+Foreign+homebuyers+targeted+mayoral/10206155/story.html

fitzrovia
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fitzrovia

ostrich- would that be open to everyone with money to launder or Communist-party-members-who-love-Conservatives only?

Son of Ponzi
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Son of Ponzi

New condos build in Vancouver now have wok kitchens.
Can’t cook authentic Chinese food without them.

paulb
Member

New Listings 294
Price Changes 141
Sold Listings 134
TI:15987

http://www.paulboenisch.com

Heard Herd selling
Guest
Heard Herd selling

16 K party on September 16th

Son of Ponzi
Guest
Son of Ponzi

More price changes than sales.
I can smell the fear of the sellers.

valleyrenter
Member
valleyrenter

Was farting around on the BC stats page on the ol’ gov.bc.ca site and found that the population for Vancouver aggregate in 2013 is 650 some odd thousand while in 1994 it was 517 some odd thousand. Interesting thing is, I came across an old newspaper clipping from ’94 and the total inventory for homes for sale was 16 some odd thousand and it seemed like all hell was breaking loose at that time with that much inventory.

Heard Herd selling
Guest
Heard Herd selling

The fall in the fall is gaining momentum, soon it’ll be too late to get out at the top, this goes for Financial markets and real estate, the smart money has left the room

Westside Realtor
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Westside Realtor

Son of Ponzi,

As can I.

HAM starting to sweat, but early days yet.

This market is about to get porked.

midnite toker
Member
midnite toker

Good links/stories today. Thanks boys

Just what is a wok kitchen? I have a wok in ny kitchen. Got it at IKEA, under $10.

fitzrovia
Guest
fitzrovia
William
Guest
William

I am also gearing that finding buyers is getting tougher without offering lots of downside on pricing.

Mad Immigration consultant turned seafood salesperson
Guest
Mad Immigration consultant turned seafood salesperson
Yunak
Guest
Yunak

A brief melee broke out at a parent, teacher and student pro-teachers rally at the Vancouver Art Gallery Sunday when it was crashed by a group of parents from Richmond wielding anti-union signs.

Those assholes from Richmond went against BC teachers. Outrageous and sad at the same time. How far they will go when they get power quite soon? BC is heading straight to totalitarianism of the worst kind probably the same as the shithole that they came from.

http://www.cbc.ca/player/News/Canada/BC/ID/2518338572/

left already
Guest
left already

@Yunak
the xxxholes are exercising their democratic right to protest, you racist pig.
If you had kids, you would know better.
I wish we had a Reagan style leader to fire immediately all the teachers for breach of contract and start with young teachers eager to work.
There are lots of them out there.
If teachers are not happy with their fat pay in the public sector, no one is preventing them from taking a job in the private sector.
Don’t be fooled, it is not about the kids, is is about getting a bigger salary for themselves at taxpayers expense.

Oracle
Guest
Oracle

Post #24

Enough of the racist card.

People are just protesting huge amounts of money coming into the city…regardless of what nationality….and pricing locals out….but you already knew that.

wpDiscuz