OMG OSFI!

YVR pointed out this article by Rob Mclister about the OSFI B-20 bombshell:

The new OSFI’s stress test rules will make 20% of the mortgage market not qualify or they will have to reduce their mortgage by 18% to qualify. That is before recent and future mortgage rate increases are factored in.

Roughly 80% of new big bank lending in the richly valued Toronto and Vancouver markets is low-ratio mortgage lending

OSFI’s stress test, as proposed, would slash buying power for prime buyers by roughly 18%

For non-prime borrowers, qualifying rates would immediately rocket into the 6% to 7% range

Read the full article here.

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Best place on meth
Member
Best place on meth

Everyt ime McLister has a tantrum, you just know something good has happened.

That parasite thinks people have a god given right to cheap credit.

Tomorrow, Krusty will be fired and Eby becomes Housing Minister with a lot of work ahead of him to clean up the filth left behind by the liberals and trash like McLister.

At 2 pm, BC finally moves forward.

history
Guest
history

McLister and his cronies did their job too well

when people start killing themselves because of onerous debt levels, the Mortgage broker piggies will be long gone into the night. Bucketshops work like this.

OracleBruce_85@hotmail.com
Guest
OracleBruce_85@hotmail.com

Lets see what Eby does. His silence is peaking volumes. I have been bombarding Weaver to het his housing platform enacted.

You have to hound these guys. or else no on will vote for them in 2 years.

YVR
Guest
YVR

“Lets see what Eby does. His silence is peaking volumes. ”

Eby was the only NDPer we heard from over the past 4 years. Now he is acting just like the rest of them.

Oracle
Guest
Oracle

I agree. And he’s not even going to be the housing minister. Too many relatives of these MLA’s are developers.

specuskeptic
Member

Which MLAs? Name them. Name their relatives and then name their connection to developers. Your spew of bullshit is relentless, so you’ll pardon me while I call bullshit on this comment from a proudly self-avowed liar.

YVR
Guest
YVR

“At 2 pm, BC finally moves forward.”

Not quite 2pm tomorrow. Remember the NDP plan to take the Summer off. I guess they are used to ‘working’ in a union.

Oracle
Guest
Oracle

At Provincial level, Libs are the NDP are the Greens. All infiltrated by the same group.

At Federal level, Libs are the Cons.

bullwhip29
Guest
bullwhip29
Oracle
Guest
Oracle

Yeah but if everyone does it, you really think the gov is going after them? Protection in numbers.

Best place on meth
Member
Best place on meth

Hypocrite liberals already whining about ” inappropriately using public service resources for political purposes”.

A whopping half million dollars to try and keep the coalition running smoothly.

How many millions of our taxes did the libs waste on self promotion? Constantly spending our money on ads to tell us how fucking great they are?

And how about Krusty’s last second Hail Mary to try and convince Guichon to call another election – how much is a new election?

These lowlifes deserve to fry in hell.

Best place on meth
Member
Best place on meth

China’s overseas acquisition spree is coming to an end.

https://finance.yahoo.com/news/china-cracks-down-dalian-wandas-overseas-deals-sources-095257932–sector.html

Perhaps the Grouse Mountain deal won’t be completed after all.

Oracle
Guest
Oracle

Bad news,

Hearing reports that David Eby is NOT housing minister.

Part of me always thought these guys going to back away from fixing house prices. Oh well, if they do, then a lot of people aren’t going to go out and vote for them next time.

Dave
Member

Of course they are going to back away. What else does our economy have going for it? The movie industry is about the only other thing and that’s based on fantasy too.

bullwhip29
Guest
bullwhip29

real estate
tourism + indirectly retail spending
film industry
2nd tier tech

ALL flourishing due to low Cdn dollar. Talk about a house of cards tumbling if Poloz decides to go off the deep end…

this leaves money laundering, fraudulent immigration services/consulting, bottom of the barrel land assemblies and businesses catering to foreign students as the only legs that we have left to stand on

Bag it and tag it
Member
Bag it and tag it

I’m hearing reports that whenever Oracle says he’s ‘hearing’ something, but doesn’t post a link, he’s full of shit…

Bag it and tag it
Member
Bag it and tag it

But this time he got lucky 🙂

YVR
Guest
YVR

Looks like after last years CMHC stress test qualifications those who did’t qualify just got private lenders to fund the down payment so they could get a conventional mortgage and not have to pass the stress test. CMHC mortgages dropped 41% during the biggest boom in history in Toronto and a pretty strong Spring in Vancouver. This is why we are seeing the new stress test for conventional mortgages now. This will shut that down. Game over.

In its quarterly financial results posted Tuesday, the Canada Mortgage and Housing Corporation said that it insured just over 48,000 new mortgages between January and March, a 41 per cent decline from the previous three-month period.

http://www.cbc.ca/news/business/cmhc-mortgage-housing-1.4137986

Oracle
Guest
Oracle

CMHC mortgages slowed because bureaucrats there were probably being handed brown paper envelopes stuffed with something from Genworth and Canada Guaranty.

No different than CRTC and its dealing with the telecoms.

Canada is a banana republic. The institutions are infiltrated by the corrupt now.

Abdul Lahazi
Guest
Abdul Lahazi

2 killed, 9 hurt in cleaver attack at Chinese Walmart store:
https://finance.yahoo.com/news/2-killed-9-hurt-cleaver-032948696.html

Yet another crazed Chineeze knife killer. Maybe he is upset about high property prices?

Shut It Down Already
Guest
Shut It Down Already

Let’s see if our resident hypocrite/racist declares this off-topic.

Owen
Member
Owen

Definitely off-topic. The media covers too much of this crap all the time. That’s the reason people think crime is up when it’s way down and that every stranger wants to abduct their kids when really it basically never happens.

Shut It Down Already
Guest
Shut It Down Already

It’s even worse when you actively seek out such articles.

Abdul Lahazi
Guest
Abdul Lahazi

Actually it was a link from off that URL that YVR posted earlier.

Combat roach
Guest
Combat roach

There are some good stuff to be noted too…

“Cheating is now officially a criminal offence in China. Students found guilty of cheating in the notoriously difficult university entrance exam will now face up to seven years in prison. Many are calling the punishment overly harsh. Even so, I think it’s exactly what China needs, if it is enforced fairly.”

http://www.scmp.com/comment/insight-opinion/article/1974986/why-do-chinese-students-think-its-ok-cheat#Most%20Chinese%20parents

best place on earth
Guest
best place on earth

really now! why don’t you post all the information about the terrorists killing innocent people around the world too.

bullwhip29
Guest
bullwhip29
Dave
Member

I think the story of the next 10 years is one where average and middle class Canadians get squeezed more and more.

BubbleTea
Guest
BubbleTea

“$2,000,000,000,000 in Proceeds of Corruption Removed from China and Taken to US, Australia, Canada and Netherlands”
http://www.antimoneylaunderinglaw.com/2017/01/qa-on-the-2-trillion-in-proceeds-of-corruption-removed-from-china-and-taken-to-us-australia-canada-and-netherlands.html
Wonder why Canadians can not buy a home in their country and the politicians will not do anything about it.

Shut It Down Already
Guest
Shut It Down Already

Canadians can buy homes in their own country, evidenced by the fact that they’re responsible for the vast majority of sales.

Abdul Lahazi
Guest
Abdul Lahazi

Yes, 2 trillion dollars won’t affect anything.

Shut It Down Already
Guest
Shut It Down Already

2 trillion unverified dollars over 20 years, 4 countries, and multiple asset classes you mean?

The fact remains that Canadians are buying the majority of properties, whilst additionally they’re up to their eyeballs in debt.

history
Guest
history

XE Money Transfer – connecting the world through currency exchange.

http://www.xe.com/xemoneytransfer/ca/

XE Money Transfer is the quick, easy, and secure way to transfer money around the globe. With competitive exchange rates you can book international payments 24/7.
Every year, over 33,000 people and 2,000 businesses trust us to make global payments, send funds to family, pay international businesses, and buy foreign real estate. At XE, we’re not just passionate about saving you money, we’re proud of our exceptional service as we connect the world through currency exchange.

BubbleTea
Guest
BubbleTea

‘Massive effort’ underway to create database that will shed light on Canada’s housing market
“The data must be first provided to big real-estate markets, and so we are concentrating on Toronto and Vancouver,” explained McCarrell.
http://business.financialpost.com/personal-finance/mortgages-real-estate/massive-effort-underway-to-create-database-that-will-shed-light-on-canadas-housing-market/wcm/7b6aff4d-0bff-4223-a2cc-bc0207ff9e89

Shut It Down Already
Guest
Shut It Down Already

Something else to be ignored.

Oracle
Guest
Oracle

That is a database for stats like population.

It is not for policy or tax purposes.

Fail.

Oracle
Guest
Oracle

It’s official.

Eby has bailed on housing.

NDP has looked the other way.

specuskeptic
Member

As with many posts you make, you’re spinning this. It’s not Eby’s portfolio to bail on. That’s Horgan’s call. At least your position is consistent here – consistent in that it lays blame where there is none LOL…

Oracle
Guest
Oracle

honest posts get you no where. That is the sign and times of BC today. Ugly.

Point of post is to get people riled up about what they voted for.

You campaign on a housing platform, better make sure you follow thru.

specuskeptic
Member

“honest posts get you no where”. Words to live by. I thought you were merely a liar, not a proud one…

BubbleTea
Guest
BubbleTea

Sam Cooper Tweets: If Eby and Robinson are working closely on vanre and serious about tackling money laundering and nominee holdings, that should be impactful.

bullwhip29
Guest
bullwhip29

“Canadian” firm buys Grouse Mountain
https://www.biv.com/article/2017/7/canadian-firm-buys-grouse-mountain/

GM Resorts Limited Partnership was established by CM (Canada) Asset Management Co., Ltd. (CM Canada), which is a Canadian investment and asset-management company that has more than 60% ownership by Canadian investors, according to a news release from the resort. China Minsheng Investment Group subsidiary CMIG International is CM Canada’s international investor.

bullwhip29
Guest
bullwhip29
Bear Vancouverite
Member
Bear Vancouverite
Eby not being Housing minister is a big blow IMO. Sure Patriotz will say Eby’s position is the NDP’s position on housing, but the fact of the matter is Eby has spent the past 4 years deep in this file and knows a lot of the nuance and frustration of the housing crisis. He’s been following it closely, interacted with users on multiple platforms (including being a guest on multiple programs ranging from TV to Youtube to Reddit) and has spent more time advocating Housing problems than any other MLA. I’ve spoken to Eby and I see him as someone who looks at the problem deeply and with a good grasp of the crisis as well as the challenges and optics of handling it. Eby has also spent considerable time talking to a broad range of stakeholders in this crisis,… Read more »
Combat roach
Guest
Combat roach

Perhaps she is just a decoration in the ministry of housing whereas Eby will have more space and power to clean up the shitshow related to housing matter in BC?

patriotz
Member

“and has spent more time advocating Housing problems than any other MLA”

Because that was his job. If Eby were left out of the cabinet or given a token post, I would certainly see that as a sign Horgan was not serious about housing. A-G is a senior post and one that requires direct expertise. I don’t see his appointment as diminishing the importance of housing at all, quite the opposite that Horgan was happy with Eby’s performance.

YVR
Guest
YVR

“Horgan was not serious about housing”

Horgan is serious about housing. He owns 2 of them. So does Selina.

Eby is one of the few that rents. That disqualified him. That and being competent.

https://thetyee.ca/News/2017/01/25/PDS-HORGAN-2016.pdf.pagespeed.ce.WAo9iwfEfS.pdf

patriotz
Member

“He owns 2 of them.”

As I’ve already pointed out, he doesn’t. He’s the joint owner of his residence in Langford, assessed $425K, and has 1/3 interest in another property.

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDBIUUQxNg==

Just me
Guest
Just me

I am actually quite happy about the post Eby was given.

(1) It is a very senior post, so his opinions will matter.

(2) He is in charge of law and overseeing the legal framework. That includes, in a broad sense, enforcement oversee and making sure that the judicial and quasi-judicial enforcement is done properly. I wonder if he will be able to change the way our province deals with “money laundering”.

All in all, very good news. And certainly not positive for the pro-housing lobby.

Bear Vancouverite
Member
Bear Vancouverite

I do agree A-G is a very good post, I’m not saying his post is not valuable. I just hope the Housing Ministry asks for his significant input.

YVR
Guest
YVR

“I just hope the Housing Ministry asks for his significant input.”

Cameron Muir will be advising them going forward. No need for Eby. Eby will look after Trans bathroom law and other important NDP priorities.

patriotz
Member

Couldn’t resist throwing a little transphobia into that one? Well thanks for letting us know where your dislike for the NDP is really coming from.

YVR
Guest
YVR

Joint owner with his wife. LOL. Spin away.

YVR
Guest
YVR

“(1) It is a very senior post, so his opinions will matter.”

Yes like the AG is always involved in housing issues. Their couldn’t be a post further away and less relevant to housing.

Best place on meth
Member
Best place on meth

Think “criminal activity” related to housing.

Not that I’m happy with this appointment, it should have been a no-brainer to put Eby in Housing but he is a man of many talents after all.

YVR
Guest
YVR

“Think “criminal activity” related to housing.”

Like what? Nothing criminal is taking place in Canada other than maybe tax evasion which is not an AG responsibility. It is CRA/federal.

YVR
Guest
YVR

“Selina Robinson is now Housing minister”

LOL. Selina who? The only thing notable about her is she owns two houses both with mortgages.

https://thetyee.ca/News/2017/01/25/PDS-ROBINSON-2016.pdf

history
Guest
history

Victoria property refinanced how many times?

Abdul Lahazi
Guest
Abdul Lahazi

NDP like to speculate on RE just like any other politicians. Remember Mike Harcourt’s redevelopment/flip on Pt. Grey Road?

Best place on meth
Member
Best place on meth

This is what gender equality gets you when putting together a cabinet.

Instead of filling the posts with the most qualified people, you end up with 11 men and 11 women.

history
Guest
history

The NDP sufferred in Cowichan because of this policy… opened the door for Furstenau and the 3rd Green seat was a wrap.

Careful what you wish for

paulb
Member

New
275
Price Change
78
Sold
129
TI:9858

http://www.clivestevepaul.com

Just me
Guest
Just me

Fast approaching 10k. Will it happen by the end of July?

Combat roach
Guest
Combat roach

Bteo week?

Bag it and tag it
Member
Bag it and tag it

It will happen on or before next Tuesday.

Abdul Lahazi
Guest
Abdul Lahazi

Chinese immigration into Richmond BC has transformed a once healthy, balanced, British city into a loud, crass, Chinese-only commercial land lot.

https://www.dailystormer.com/the-destruction-of-richmond-british-columbia-through-chinese-migration/

John Law and Kerry Stevens, Richmond resident.

patriotz
Member

“British”? Please. And note that prior to WWII Richmond had the largest Asian population %-wise of any municipality in BC, probably in Canada for that matter.

Abdul Lahazi
Guest
Abdul Lahazi
KickThemOut
Member
KickThemOut

I can’t wait for 100K your true brothers settling in Richmond. it will make Richmond great again, and Sharia law!

Abdul Lahazi
Guest
Abdul Lahazi

Not that it really matters but is there any proof of this? There was quite a few Japanese in Steveston before WWII but I cannot find any figures to verify your statement as fact.

KickThemOut
Member
KickThemOut

So why are you caring so much? If it doesn’t matter much?

Shut It Down Already
Guest
Shut It Down Already

Before anybody clicks the link:

“The Daily Stormer is an American neo-Nazi and white supremacist news and commentary website.”

https://en.m.wikipedia.org/wiki/The_Daily_Stormer

Abdul Lahazi
Guest
Abdul Lahazi

and? What is your point? Censorship? Don’t click that link or you will be sorry. This is just another perspective. Too bad it doesn’t align with your particular worldview.

Shut It Down Already
Guest
Shut It Down Already

Neo-Naziism is just another perspective, and somehow as valid as any other?

You’re a joke. A toxic, racist joke.

Abdul Lahazi
Guest
Abdul Lahazi

You just proved my point.

Shut It Down Already
Guest
Shut It Down Already

Still trying to defend the indefensible, I see.

KickThemOut
Member
KickThemOut

Well, the Nazi did try to exterminate Abdul’s sworn enemy 70 years ago.

specuskeptic
Member

To quote one of my fave bands from the ’80s, “Nazi punks, fuck off”…

bullwhip29
Guest
bullwhip29
despite what you might think this statement is true. 90% of richmond has been overrun by chinese, many of whom do whatever the eff they want without a care in the world. on any given day it is a fight and struggle to get things done as many places of business are simply bursting at the seams and can only be visited during “off peak” times now. even areas like steveston, which itself is undergoing major redevelopment are quickly transforming. gone are the days when one could go for a quiet stroll, pop into a cafe for a nice lunch/dinner etc. now even that part of town is populated with illegally parked luxury suvs, litter strewn all over, tour buses blocking streets/alleys, crowded noisy restaurants, toy dogs who crap anywhere and everywhere, chaotic fishing docks, ice cream stands with lines… Read more »
history
Guest
history

you forgot Angry Seal.

and the kids everywhere playing Angry Seal on their ipods

KickThemOut
Member
KickThemOut

So basically you are pissed that businesses are making money and successful, and you can’t have your quiet meal in a restaurant all by yourself?

MarKoz
Member

The swastikas and pictures of Adolf kinda gave it away…

KickThemOut
Member
KickThemOut

Hence why it’s Abdul and BPOM & CO favorite website for trusted opinions and news. They double and triple check all facts! 🙂
I wonder if BPOM has a portrait of the Fuer himself that he salutes to every morning when he gets up, and before he goes to sleep.

Best place on meth
Member
Best place on meth

A lot of good points made that most sensible people (not the hyper-policitally correct twats) would agree with.

Skip the comments though, nothing good there.

KickThemOut
Member
KickThemOut

Exactly…if those pesky Hong Kongers didn’t come, we would still have u-pick farms along No 3 Road, instead of strip malls and Chinese restaurants, and fugly condo buildings. Fuck those HKers who ruin everything.
Abdul I recommend you to be commander of Purge Richmond brigade. Rally your fellow brothers and take back Richmond! 72 virgins and eternal love of the prophet awaits any members who fell in this sacred duty.

Best place on meth
Member
Best place on meth

Speaking of U-pick farms, my favorite place for over years is now a write off as it has also been overrun by chinese.

Enormous crowds last weekend, 90% chinese.

I observed some of them leaving the fields and going back to their cars with no berries in in their possession. It seems they just came to gorge themselves and leave.

Doomcouver
Guest
Doomcouver
This is just an old 2015 article from The Council of European Canadians, a right-wing anti-immigration group in Canada. The title is a little inflammatory, but the sentiment is brought on by people who don’t agree with Canada’s immigration policies. I would count myself among them. Allowing massive waves of culturally disparate populations to your own into your country inevitably causes something called “ghettoization”. Basically cultures and/or races are segregated geographically into an area. This makes integration difficult because they often retain their own language, culture, and societal norms without adopting their host countries’. Racial segregation is not anything we should want. Canadians should be proud of our European style culture, and want people who live in Canada to embrace it. Politicians do not want to enact policies to reach this end however as left-wingers would consider such policies culturally… Read more »
Oracle
Guest
Oracle

We south Asians and Asians are gong to have a majority here in the lower mainland one day. Thats a given and now it is too big too fail.

However, we can make housing affordable by taxing 2nd homes. Maybe 4%?

bullwhip29
Guest
bullwhip29

City of Vancouver bows to pressure, unveils plan to rent empty Trout Lake home
http://www.cbc.ca/news/canada/british-columbia/city-of-vancouver-bows-to-pressure-unveils-plan-to-rent-empty-trout-lake-home-1.4211136

>>> i think city is telling us a bold faced lie regarding these so called plans to expand park when the truth will likely involve some sort of a deal with friendly developers who undoubtedly plan to do a whole lot more than some landscaping

KickThemOut
Member
KickThemOut

So what’s your solution to more affordable housing? Stop development? Build a wall so only the worthy can live in Vancouver? Expel maybe 100K undesirables?

bullwhip29
Guest
bullwhip29

Grouse Mountain Resort’s Chinese investor ‘silent,’ says new Canadian owner
http://www.cbc.ca/news/canada/british-columbia/grouse-mountain-sold-1.4210574

>>> why the defensive posture and all the tip toeing around? if they want to be so transparent about the process, why not disclose beneficial ownership of CM Canada? suggestions that the combined entity won’t be controlled entirely by the chinese is beyond laughable as are claims the resort and surrounding properties (with perhaps the best view of Vanc) won’t undergo major redevelop

bullwhip29
Guest
bullwhip29
KickThemOut
Member
KickThemOut

Would it make you feel better if the owners of Whistler and Blackcomb bought it and left it to rot?

Abdul Lahazi
Guest
Abdul Lahazi

Yes.

Shut It Down Already
Guest
Shut It Down Already

What exactly are they expected to say?

bullwhip29
Guest
bullwhip29

Maple Ridge man sues stepdaughter over dispute involving real estate flip
http://vancouversun.com/news/local-news/maple-ridge-man-sues-stepdaughter-over-alleged-breach-in-agreement-involving-real-estate-flip

>>> more fun and games in the world of real estate, Maple Ridge edition…

Oracle
Guest
Oracle

I’m hearing reports that the housing measure that will be introduced in the fall will be a 2% levy on homes owned by non-residents. The tax will only be applied to metro vancouver.

Also hearing that the Green Party will stay out of housing until the next election.

So up up and away for Abbotsford and Kelowna.

Comments Specku?

Oracle
Guest
Oracle

Nothing to address rents as Trudeau keeps piling in more people here.

Rents go up. Low end housing prices rise.

Owen
Member
Owen

It’s not like this is something new or a passing fad. The Metro needs to learn to build faster.

KickThemOut
Member
KickThemOut

Hmmm…nothing some stuffed envelopes can’t solve. Ever notice that 20 storeys condo buildings get build at a much faster rate than a SFH?

Bag it and tag it
Member
Bag it and tag it

When you say you’re ‘hearing’, could you please provide a link or at least state where you heard this (i.e. radio show)
The 2% would be amazing, but what they really need to do asap is cancel that down payment helper scheme.

KickThemOut
Member
KickThemOut

All of Oracle’s sources are anonymous government insiders who are not authorized to speak to media or public about any government policies. Hence the need to protect their identities.

Reasonfirst
Guest
Reasonfirst

That was sarcasm I hope.

Abdul Lahazi
Guest
Abdul Lahazi

Where can a list of Chinese owned BC companies be found? I do not wish to patronize any company or business owned by mainland Chinese communists.

KickThemOut
Member
KickThemOut

If you see a Chinese supervisor or manager who can speak Mandarin, it’s owned by mainland Chinese communists. It’s just that simple.

Combat roach
Guest
Combat roach
southseacompany
Member
southseacompany

“‘Playing with fire’: Housing experts warn OSFI against new stress tests”< BNN video

http://www.bnn.ca/playing-with-fire-housing-experts-warn-osfi-against-new-stress-tests-1.808316

"“This could easily be one of the most impactful mortgage restrictions of all time,” McLister, founder of RateSpy.com, told BNN in an email."

"“But if housing does dive because of OSFI's move, not only will policymakers and our real estate-dependent economy get burnt, but so will anyone who relies on home equity.”"

bullwhip29
Guest
bullwhip29

very conveniently the banksters along with the rest of the RE cartel will now have someone to point the finger at should things unravel in short order

Best place on meth
Member
Best place on meth

I hope McListard loses everything. What a prick.

southseacompany
Member
southseacompany

“How the Bank of Canada’s rate hike could spell trouble for Trudeau’s middle-class dream”, Financial Post

http://business.financialpost.com/news/economy/polozs-rate-hike-spells-trouble-for-trudeaus-david-and-neera/wcm/bdf1ae18-978f-4a1b-b852-0e689cdae38f

“Poloz might have to tighten more quickly because Trudeau’s deficit agenda is adding more money into the economy, and a faster pace of rate hikes could also magnify costs for the heavily indebted.”

bullwhip29
Guest
bullwhip29

higher rates and therefore a further spike in the loonie would hammer many sectors including, RE, tourism, manufacturing, film/tv, technology and retail. if the lineups at the peace arch (and border crossings near Cda’s other 2 largest mkts) over the wknd are any indication, then big trouble is just around the corner for the cdn economy. and to think krusty wholeheartedly believed all these tourists from china, s.america, europe and usa swarming all over town were somehow a direct result of policies she implemented.

history
Guest
history

worried about precious leisure industry viability? Simply allow an Interest rate costs deduction, like the Americans.

the Americans, for their part, can import the Canadian Health care system, and provide free basic coverage to everyone

bring the two currencies to parity

get rid of the border

Owen
Member
Owen

I don’t think the loonie will spike again. BoC schedule for rate hikes is now similar to the Fed. The dollar spiked because BoC had an unexpected and sudden change of heart. If Canada (read: natural resources) start outperforming the US economically then maybe, but the Fed is also starting to unwind QE. Also, US deficit spending vs. Canada & provinces is similar and neither is likely to change any time soon.

Abdul Lahazi
Guest
Abdul Lahazi

There is also probably some political pressure from the USA to have us raise our interest rates.

bullwhip29
Guest
bullwhip29

Foreigners pump up home prices in U.S.
http://www.foxbusiness.com/markets/2017/07/19/foreigners-pump-up-home-prices-in-u-s.html

“The recent surge in foreign buying was driven largely by Canadians flocking south to escape their own overheated real-estate markets.”

“They’re shocked at what $300,000 or $400,000 will buy them. In Florida they can get a detached single-family house in that price range, while in Canada even an 800-square-foot condo is roughly twice that much.”

“Chinese buyers remained the largest purchasers of U.S. homes by dollar volume, with $31.7 billion worth of purchases in the year.”

Shut It Down Already
Guest
Shut It Down Already

(Not even 10%)

Combat roach
Guest
Combat roach

Is that low, even if it is true?

Shut It Down Already
Guest
Shut It Down Already

You should know the answer by now.

patriotz
Member

” In Florida they can get a detached single-family house (for $300-400K), while in Canada even an 800-square-foot condo is roughly twice that much.”

For Christ’s sake, they’re comparing one of the cheapest markets in the US with Canada’s most expensive ones. You can get a detached house in Ottawa or Edmonton for that price. Well it is Fox after all.

YVR
Guest
YVR

You are comparing Florida to Ottawa or Edmonton? That is worse.

Best place on meth
Member
Best place on meth

If the border disappeared, everyone and their dog would move from Ottawa/Edmonton to Florida.

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