CMHC: Boom to end in 2016

Hmm. This sounds familiar.

The CMHC is predicting that the Canadian housing boom will come to a screeching halt next year and barely keep up with inflation:

Canada Mortgage and Housing Corp. issued a dim forecast for the housing market for the next two years on Monday, predicting dismal price growth — but at least one economist thinks the Crown corporation’s numbers may be off in Canada’s most significant market.

CMHC, which advises the federal government on housing policy, isn’t predicting a massive correction for housing, but it did say that consumers can expect prices to barely keep pace with inflation through 2017 and that sales and new construction would slow down.

Read the full article here.

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Vanco
Guest
Vanco

Experts predicted 0 out of the last 10 bear housing market years in Vancouver. Maybe they will be right this year.

Best place on meth
Member
Best place on meth

Dear Prime Minister Trudeau,

Please fire everyone at the CMHC and burn the place down.

paulb
Member

New
221
Sold
291
TI:10838

http://www.paulboenisch.com

emmi
Guest
emmi

Once the gains are gone, why would anyone overextend themselves?

bullwhip29
Guest
bullwhip29

saved screen cap for this. certainly “boom to end” wording will ruffle some feathers…or perhaps this so called warning is really meant to get newbee pm trudeau to open the floodgates while he is still in the mood to make everyone’s dreams a reality?

bullwhip29
Guest
bullwhip29

haven’t we seen this movie (and it’s sequel) before?
http://milliondollarshack.com/

bullwhip29
Guest
bullwhip29

WSJ: Equity Residential agrees to sell some apartments for $5.4 billion to Starwood Capital
http://www.wsj.com/articles/sam-zell-edges-out-of-apartments-1445832247

“Sam Zell has agreed to sell more than 23,000 apartments controlled by his real-estate company…”

“…represents about a quarter of the units in Equity Residential’s portfolio of apartments…”

“Mr. Zell, 74 years old, is credited for calling the top of the real-estate market in 2007…”

Shut It Down Already
Guest
Shut It Down Already

10k party came a week late, dagnammit!

Shut It Down Already
Guest
Shut It Down Already

bullwhip, many people predicted 2007 correctly. Doesn’t mean they’ll predict the future successfully. Get a big enough room full of people and one or two will appear to have the ability to predict outrageous things. It’s an old magic trick.

Yunak
Guest
Yunak

@6

Being outpriced by local “techies” who actually do something meaningful that happens to be well paid could be understood, but being outpriced by imported crocks, corrupted scumbags, locusts and leaches because politicians decided so is at least insulting, humiliating and disastrous in the long run.

right-or-wrong
Guest
right-or-wrong

“Dear Prime Minister Trudeau,

Please fire everyone at the CMHC and burn the place down.”

He can’t . They are employed by the PBoC

Shut It Down Already
Guest
Shut It Down Already

Yunak, most sales are to locals. So you’re priced-out by them, too.

Tiger
Guest
Tiger

Million Dollar Shack: Trapped in Silicon Valley’s Housing Bubble.

https://www.youtube.com/watch?v=SBjXUBMkkE8

People think vancouver SFH is expensive think again,guess who is buying the most SFH,Person who guess the right answer will get a free SFH in Vancouver or in Silicon valley ?

Tiger
Guest
Tiger

Google employee lives in truck because he can’t afford $10000 rent for a room in Silicon Valley.if you can pay $10000 for a room there is always a guy around the corner who will pay $12000 for the same space.

His blog http://frominsidethebox.com/

https://www.youtube.com/watch?v=10hRo2XEiKI

Yunak
Guest
Yunak

@12

SIDAS, I don’t mind being priced-out by locals as long as they aren’t proxies for bumpkins and comrades from China, it’s their choice, a fair game.

patriotz
Member

@7: “Mr. Zell, 74 years old, is credited for calling the top of the real-estate market in 2007…”

But the top of the market, as shown by Case-Shiller, was in mid-2006. Not hard to call something that happened the previous year.

w
Guest
w

@patriotz

It’s better than your track record though.

bullwhip29
Guest
bullwhip29
@ #16 anyone can be an armchair critic when looking at things in “hindsight”. no one has called every top and bottom perfectly. while he may have been months late in making this call (or so the article says), he was correct on overall direction market was heading and dodged a massive bullet in the process, which is a cardinal rule when managing the kind of money these guys are playing with. imho the toughest call of all is determining whether the commencement of a move is the start of something much bigger (which is what i assume he saw) or just a blip in the road. fwiw, the case schiller index is still lower than the 2006-07 peak. my point was that he is once again selling a massive portion of his RE portfolio. he could be right on… Read more »
southseacompany
Member
southseacompany

“Larry Berman: A sobering look at investing in real estate”, BNN with video

http://www.bnn.ca/News/2015/10/26/Larry-Berman-A-sobering-look-at-investing-in-real-estate.aspx

“The goal of today’s post and of the Berman’s Call housing panel debate in Vancouver, Calgary, and Toronto is to attempt to enlighten and perhaps shed a point of view on the housing sector in Canada as an investment.”

UBC in crisis mode
Guest
UBC in crisis mode

If you have time, flipping condos to make money.

Bought on June 24, 2012 for $785,295
Now on market for $880,000.

704-6311 CAMBIE ST VANCOUVER

http://www.realtylink.org/prop_search/Detail.cfm?MLS=V1142310&REBoards=All&From=MLS

bullwhip29
Guest
bullwhip29

@ #20
this wont make any money after taxes, fees, realtor commision, interest etc. even at this asking price. other than the appliances, the rest of the unit is contractor grade $hit. this unit also gets little sun (ignore the dialed up exposure on the photos) and faces busy cambie st. location is convenient though.

HAMster
Guest
HAMster

UBC @20
$95K over three years (IF they even get full ask). Less 3 years of property taxes, strata fees, selling commission, land transfer tax, capital gains tax (if rented), I don’t think there would be much left for any “profit”.

space889
Guest
space889

This should have been in place decades ago.

Sneaky snowbirds could have financial wings clipped by new security program

https://ca.finance.yahoo.com/news/sneaky-snowbirds-could-financial-wings-clipped-security-program-080027196.html

space889
Guest
space889

@HAMster – Right, cuz it was kept empty all those years too right?

space889
Guest
space889
@Yunak – Typical loser thinking…. here’s a fact, it’s not about them, it is you. If you can’t make it and be successful then you are just a loser and accept it. You people are like the fox who can’t get the grapes after trying so hard and so long, so it says to itself well the grapes are not ripe and super sour anyways, I don’t want to eat it. Or the kid who always want to show off to his crush that’s he is number 1 at something, anything but can’t and only watch his big crush go for the jock/nerd that you always hated. So you say, it’s not fair that’s s/he is so smart and family so rich. If I had the same rich parents who can hire private tutors, I would be smarter, faster, whatever… Read more »
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