Tougher to get a mortgage in 2018

In the new year we’ll see a ‘stress test‘ added to all new uninsured mortgages, are you ready for that?

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s banking regulator, confirmed earlier today that there will now be a qualifying “stress test” for all uninsured mortgages, affecting consumers with downpayments of 20 percent or more.

Under current housing rules, only borrowers with a downpayment of less than 20 percent require mortgage insurance. This category of borrowers are already subject to a mortgage “stress test” that was introduced back in July 2016, amidst concerns about rising household indebtedness.

Right now, if you’re applying for a mortgage with a downpayment of 20 percent or more, the lender will assess if your financial situation is robust enough to afford a five-year mortgage qualifying rate, which currently sits in the range of 4.64 to 4.89 percent.

Under the new rules, OSFI will require that lenders use that same five-year mortgage rate plus two percent — essentially you’ll need to have income that qualifies you to afford an interest rate on a home loan of roughly seven percent.

Dave Madani says this is equivalent to a 17% reduction in the maximum mortgage people will be able to qualify for. Read the full article over at Vice.

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southseacompany
Member
southseacompany

“Worried parents buying homes for school-aged kids, a move experts warn comes with pitfalls”, Globe & Mail

https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/buying-properties-for-school-aged-kids-comes-with-pitfalls-experts-warn/article37427082/

“At a time when real estate markets in cities such as Vancouver and Toronto, as well as Hamilton and Victoria, show no significant signs of cooling, middle- and upper-class parents such as Ms. Johnson are buying properties for their young kids, recognizing that if things continue unabated, their children could be shut out of the market long before they reach adulthood.”

Boombust
Guest
Boombust

Dumb and dumber. A sucker born every minute.

Vancity
Guest
Vancity

Disagree. 4% increase coming. Now what happens if rent increases by that amount over the next 10 years? Compounded thats a 60-70% increase in rent and good luck if you think your wages are going to rise with massive population inflows.

history
Guest
history

Into your tanx everyone! All able Canadian born men, women and children! It’s time to start over, 2018 is a NewYear. For you, the quality and value is Consciousness. The positive attribute is Self Assurance, Creativity, Singularity and Independence. You are Inventive, full of Vitality, Ambition and Drive. Take a Leading Role, express your ORIGINality.

specuskeptic
Member

Hey Oracle. Great to see you on brand and message here. Yutz.

YVR
Guest
YVR

I think you are misdirecting your anger. The poster is right saying 4% rent increase in a few days.

YVR
Guest
YVR

I think Oracle needs to get a life. Stick with the usual sock puppet names.

Strata Hacker
Guest
Strata Hacker

Thanks for self identifying

history
Guest
history

FOMO was a feature of a Warren Buffett story on Bitcoin the other day… so, if im a media patsy stooge, i run my headline algorithm, cut a thread short, and prop the baby FOMO housing. We are, after all, in an everting bauble

history
Guest
history

Sorry, that should read Inverting Bubble

Vancity
Guest
Vancity

Totally understandable and a very smart move. Its like that in many cities in the world. Been happening in Vancouver in the last decade. Many NDP electoral district committee members own multiple homes for their young kids. With population growth, kids will become renters and they will be subject to a life of paying rent. 4% increase coming up in a few days courtesy of NDP when rates are at emergency rates and inflation non-existent as per statscan.

Shut It Down Already
Guest
Shut It Down Already

More greedy speculating locals? It can’t be!

southseacompany
Member
southseacompany

“Can Central Banks Keep Control of Interest Rates?”, Wall Street Journal

https://www.wsj.com/articles/are-central-bankers-about-to-lose-control-1514292439

“Inflation-adjusted—or ‘real’—rates remain low, lending support to booming prices for stocks, property and other assets. But some worry that could vanish sooner than markets realize”

history
Guest
history

Lending Support, mon

My new strain of ~medical~ marihuana

Doomcouver
Guest
Doomcouver

The 1980s of inflation and rates are going to make a comeback in the 2020’s. The saver’s revenge is coming.

Strata Hacker
Guest
Strata Hacker

Rates fell through out the 1980s. What is your point?

southseacompany
Member
southseacompany

“It’s the end of the line for the bond market bonanza”, South China Morning Post

http://www.scmp.com/business/article/2125606/its-end-line-bond-market-bonanza

“Global growth is fighting back, inflation pressures are picking up and interest rates and bond yields will continue to adjust higher. The good times are over and bond investors should buckle up for a rocky ride in 2018.”

Just me
Guest
Just me
Pope, I followed your link but I think there is a misunderstanding. In your post to point to a qualification rate which is the “bank posted” rate (say 4.8% currently) plus an extra 200 basis points, which makes it 6.3% in total. I do not think that OSFI regulations are shooting that high: my understanding is that you either have to qualify at the bank posted rate, or at the discounted rate (say 3.2%) plus an extra 200 basis points. Moreover, Federally regulated banks should use whatever is the highest of the two rates above. Using these rules I can conjecture that the minimum qualification rate would be somewhere around 4.5% and 5%, at current posted/discounted rates. Where did you read about the rule of posted rate plus 2 percent? That would require banks to qualify buyers at rates somewhere… Read more »
Just me
Guest
Just me

Note that in Vancouver, according to many bank workers in the lending business, mainland Chinese are leveraging their seed money. So a 20% reduction in leveraging power might simply be offset but an increase in seed money. Of course, in aggregate, liquidity in the market would go down. But I doubt it would go down by the full 20%.

In practice, both OSFI and our local governments know full well these changes are significant but unlikely to kill the market. They obviously hope they might trigger a slowdown and a soft landing.

In my humble opinion, the only way to bring Vancouver prices back in line with earnings of local workers is to take significant political steps that restrict demand by taxing the slush funds from mainland China through some form of taxation of the existing, idle housing investments.

Laibach
Member
Laibach

Right, whatever restriction comes the locust is still going to rule the Vancouver housing market. Only a radical political change could stop their shitshow.

Doomcouver
Guest
Doomcouver

Chinese buying power is primarily due to the credit bubble in China. A trade war with the USA or other exogenous shock would collapse their sketchy credit market, and destroy most of their “wealth”. The bubble is so huge it may just implode all on it’s own at this point.

I agree that there should have been restrictions on wealthy foreigners in our market, but I do not agree that political change is necessarily required to stem the flow of money from China.

Hibernating Renter
Member
Hibernating Renter

You are correct.

“So under OSFI’s new rules, borrowers would be stress tested at either the five-year average posted rate, or two per cent higher than their actual mortgage rate — whichever one is higher.”
http://www.cbc.ca/news/business/osfi-mortgage-rules-1.4358048

NewCoast
Guest
NewCoast

You people will know within 2 months the future direction of real estate market. If NDP does. It make major change, lots of money will enter market. Prices will be much higher. I suggest people here get preapproved for mortgage and buy on budget day. No NDP insider is selling. They are all adding to their holdings.

NewCoast
Guest
NewCoast

-> if NDP does NOT make major changes…<-

New toast
Guest
New toast

New coast listed my aunts house last year and the agent was caught on hidden cam snooping and stole a toonie for reals

Me too
Guest
Me too

New Coast agent was filmed on hidden camera picking nose and wiped it under sofa cushions , my sons condo open house

Lost....but not leased
Guest
Lost....but not leased

I scooped up some dog shit and out popped 3 NuCoast realtors…one named Kitty
…one other was still stuck in the dog’s ass…

Strata Hacker
Guest
Strata Hacker

+1

Doomcouver
Guest
Doomcouver

The BC NDP only have power to push prices down, they are completely powerless to keep prices high. As such you can’t necessarily tell what direction house prices will go based on NDP policy. Unless they create some extremely draconian anti-speculation laws, we’re mostly at the mercy of the global credit cycle.

specuskeptic
Member

Oracle. Pick a handle. Stick with it……fuck off.

Oracle
Guest
Oracle

Do you have the intelligence to say anything constructive? Maybe anger management courses? Or moving out of BC courses?

Strata Hacker
Guest
Strata Hacker

They are jealous that you have been right all along Oracle.

Yikes
Guest
Yikes

I was qualified for 670000 last summer , just got a new approval for only 500000 same lender wtf

Abdul Lahazi
Guest
Abdul Lahazi

A 25% reduction sound about right under the new OSFI’s new rules.

Doomcouver
Guest
Doomcouver

Risk aversion at the banks will inevitably creep back into lending as interest rate hikes continue to materialize, and borrower financials continue to be overstretched. A 1980’s ‘esque environment of higher rates, higher inflation, and low credit availability is definitely in the cards.

Strata Hacker
Guest
Strata Hacker

Rates fell through out the 80s. So did inflation. Collapsed. Credit boomed. So did the stock market. Why would anyone believe your forecast if you cannot even get the basics correct ?

bestplaceonearth
Guest
bestplaceonearth

Qualified for lesser amount, and prices for condo/attach keep escalating. It’t the cost of doing nothing. Yikes!

Lost....but not leased
Guest
Lost....but not leased

Did you apply under the names “New toast”….’Me too” ….. besides ” Yikes’…If so…you should be like foreign locusts and qualify for 3 SURREY CRACKSHACKS.

Me too
Guest
Me too

Sounds like you are. New Coast flakgent

Diadora
Guest
Diadora

Hong Kong ad offers to cover foreign buyers’ tax for Toronto condo investors
https://www.bnn.ca/hong-kong-ad-offers-to-cover-foreign-buyers-tax-for-toronto-condo-investors-1.753423

bestplaceonearth
Guest
bestplaceonearth

Old news. Might as well dig out 2008 news to mislead the readers.

Bag it and tag it
Member
Bag it and tag it

I’ll hand it to you pumpers, you’re experts on misleading readers.

bestplaceonearth
Guest
bestplaceonearth

well, how has it worked out for you bears from reading those fear-mongering news and rubbish websites that sell adds for a living?

All-in
Guest
All-in

It’s “ads”

All-in
Guest
All-in

Short for “advertisements”

Boombust
Guest
Boombust

Condo sales must be “slowing”:. Te he!

bestplaceonearth
Guest
bestplaceonearth

It does not need an extreme smart bear to figure that out. No one wants to sell.

All-in
Guest
All-in

“No one wants to sell.” You must be super smart to speak for everyone.

bestplaceonearth
Guest
bestplaceonearth

then why the inventory is so low, even in Dec? bears’ minds are alike…stupid and stubborn. Rent is due soon btw.

All-in
Guest
All-in

then why the inventory is so low, even in Dec?

Inventory is always low in Dec.

Thanks for the rent reminder. I’ll stop by my rentals on Jan 02. I don’t like to bother my tenants on a holiday.

HHaHa
Guest
HHaHa

My grandma bought a presale condo for our frozen sperm & egg in case we decide to have a kid later in life. That is the truth!

history
Guest
history

gives originally meaning to bringing monetary reserves forward: Go deep into the future to front run your offsprings chances, and a dragonfly doji at the top of the global population graph.

southseacompany
Member
southseacompany

“For Canada’s big banks, a housing hangover may loom in 2018”, Financial Post

http://business.financialpost.com/investing/for-canadas-big-banks-a-housing-hangover-may-loom-in-2018

“New guidelines for uninsured mortgages have homebuyers rushing to borrow now and lenders bracing for weaker loan growth later”

history
Guest
history

Tis the season for numerology
https://www.bloomberg.com/view/articles/2017-12-26/china-bets-on-more-state-control-for-2018

Got into it a little earlier on this thread, explaining the Year Canada will have. We are #1… do a search on the word Drive, Inspiration, Will Power, Ambition, Self Assurance, Leadership, Independence…

China gonna have a #4 year. ‘The need to be pragmatic in your outlook suggests that Financial or other Material Challenges can occur, especially if Funds Mismanaged” China needs to be careful of dogmatism, obstinancy, undependability, being too lazy, or a work-a-holic, having trouble of letting go, giving in to excess.

Folks, may i propose, among other esoteric gnowledge, it is simply unnecessary to lockdown this country’s margin gambling addiction.. the stars will do it just as well, in due time.. that time being 2018.

KickThemOut
Member
KickThemOut

Was Garth Turner a locust in his previous life? He seems to be obsessed with paying as little income tax as possible.

His top 10 ways to avoid taxes!
http://www.greaterfool.ca/2017/12/27/its-time-2/

Screwed
Guest
Screwed

That is his duty as a financial planner to educate people like you. Why pay more taxes if you have legal ways to avoid it? Sheesh

KickThemOut
Member
KickThemOut

aren’t people on this blog complaining about other people for not paying their fair share using loopholes, which are legal or else they wouldn’t be called loopholes? Or is there a double standard? Why should people in $5M+ not pay their fair share?

All-in
Guest
All-in

There is no double standard. The difference is legal tax avoidance vs. illegal tax evasion.

KickThemOut
Member
KickThemOut

You have evidence of the latter? Cuz CRA would love it since it would make their job so much easier.

Abdul Lahazi
Guest
Abdul Lahazi

Go to any chineeze cash only restaurant. That’s tax evasion.

paulb
Member

New
38
Price Change
18
Sold
114
TI:7790

http://www.clivestevepaul.com

Strata Hacker
Guest
Strata Hacker

Wow. Thanks Paul. Sure looking like higher prices ahead based on collapsing inventory

Oracle
Guest
Oracle

Looks like it. When NDP in 44 days says nothing in budget, prices gonna rocket higher like never before IMO.

Oracle
Guest
Oracle

http://vancouvercondo.info/2012/12/tulip-mania.html

5 years ago. I’m RealityCheck by the way. People trashing me and saying “troll!!” “That guy must be down voted!” “He is wrong!” “A RE Agent he must be!”.

Just read it. Especially you Specku. And see who was right. You may learn a thing or two.

Oracle
Guest
Oracle
I Like this reply to me: ———————————————————————– @RealityCheck: The thing is that, though you might not know it, the things that you said in at post are routinely said by people arguing that RE is a good investment. They were also said in the US before and during the busting of that bubble and in many other place as well. Those arguments have been successfully countered hundreds of times on this blog. So when you say them, though they might seem new to you, many people on this blog slap their foreheads and say, “Not again!” It’s not that people here don’t want to debate, it just that they get tired of having exactly the same debate again and again. ———————————————————————- HAHAHA. 5 years later and my predictions have came to fruition. Now I’m telling you that of the NDP… Read more »
Oracle
Guest
Oracle

It the highest per capita immigration rate in the world PLUS the highest intakes of temp residents anywhere in the world.

Millions have a 10 year visa now. Hundreds of thousands of rich foreign students. And a pathway to PR. Plus only country where you can immigrate parents and grandparents easily.

And lax money laundering laws.

Thats all you need to know.

Oracle
Guest
Oracle

http://www.cbc.ca/news/politics/canadian-citizenship-increase-changes-1.4456879

Hahaha. opening border wide open. Canada a laughing stock but for house prices.

Boombust
Guest
Boombust

Then why are they going DOWN, you idiot?

Oracle
Guest
Oracle

Fraser Valley detached doubled in last 24 months.

Name calling implies you have nothing constructive or intelligent to add.

specuskeptic
Member

“Name calling implies you have nothing constructive or intelligent to add.” What does posting the same bullshit bellyaching and a seemingly infinite list of sock-puppet pseudonyms imply? Take your time to think his one through.

Shut It Down Already
Guest
Shut It Down Already
Bag it and tag it
Member
Bag it and tag it

So you post 75 times per day and you hadn’t to go back 5 yrs to find a post you felt worthy of cherry picking?

BubbleTea
Guest
BubbleTea

How much real estate do foreigner investors really own? Statscan got it wrong
https://www.theglobeandmail.com/opinion/how-much-real-estate-do-foreigners-really-own-statscan-got-it-wrong/article37439665/
“Everyone will be wrong because in Canada, a foreign investor can pour money into Canadian real estate through a Canadian company they set up either federally, provincially or territorially, using a Canadian as a nominee director/shareholder/beneficiary, without disclosing the true beneficial owner.”

Shut It Down Already
Guest
Shut It Down Already

Except very very few people have reason to do this. But, hey, keep focusing on the outliers.

KickThemOut
Member
KickThemOut

Do bears on this blog even know what outliers mean?

BubbleTea
Guest
BubbleTea

StatsCan: a property owned by a B.C.-incorporated shell company with foreign owners would, for the purposes of this month’s release, count as Canadian-owned, McCarrell said. Eventually, StatsCan wants to determine how much Canadian real estate is owned by “resident corporations with foreign owners.”
Another area where McCarrell hopes to shed light is overseas residents buying Canadian properties in the name of spouses or children.
If a foreigner buys a Canadian home with money generated overseas, and puts the property in the name of a child attending school in Canada, it would not count as foreign-owned in this initial StatsCan study. McCarrell said future CHSP research could compare tax filings and property title records to find, for example, certain neighbourhoods with disproportionate numbers of multi-million properties owned by “students” with no declared income.
http://vancouversun.com/news/local-news/foreign-ownership-data-released-so-far-just-the-tip-of-the-iceberg-statscan-director
SO THE STATSCAN’S RECENT RELEASE ABOUT FOREIGN OWNERSHIP IS A JOKE!

Laibach
Member
Laibach

Lol, apparently, those fucks who kept saying it is all locals and the foreign factor is negligible were “right”. Are they complete morons or realtors with a mission?

Just me
Guest
Just me

One can only assume that the people who understate the importance of mainland Chinese buyers are those who profit handsomely from those very buyers.

Governments (at all levels) must stop giving these people the upper hand in the market. Land is a scarce resource and must be protected from international speculation. Local income earners should not compete with international capital for housing and land. As simple as that.

Oracle
Guest
Oracle

Anything short of a coup or massive protests won’t change anything at this late stage of the game.

Shut It Down Already
Guest
Shut It Down Already

You sound like the true keyboard warrior.

Boombust
Guest
Boombust

Why don’t you fuck off once and for all?

Oracle
Guest
Oracle

lol. Have you ever said those words t anyone in person? Look in the mirror tomoro and look at that physique. Hahaha

Shut It Down Already
Guest
Shut It Down Already

How are governments at all levels giving foreigners the upper hand exactly?

Just me
Guest
Just me

Simple. OPur taxation system is set up in such a way that parking money in idle RE investments is beneficial.
Start charging taxes on idle RE investments by foreigners (by identifying sopurce of funds, not passports) and the market in Vancouver will adjust downwards. Long overdue in my view.

Shut It Down Already
Guest
Shut It Down Already

Dumbass, taxation policy favours those who use their RE as their principal residence. How can you even write your garbage with a straight face?

Shut It Down Already
Guest
Shut It Down Already

Hey Just me, why not come back and correct my “misinformation” to show how our tax system gives foreigners the upper hand?

Boombust
Guest
Boombust

Because it IS locals driving the market, dumb ass. Locals drive EVERY RE market.

Boombust
Guest
Boombust

Just more junk from The Sun/Global, etc. to get locals to buy because of the “Foreign Danger”. You’re being played and you don’t even know it.

There is a LOT of SSS at stake; ad revenues and development sales. So, don’t put it past them to try every trick in the book to keep this party going.

Oracle
Guest
Oracle

The bears just might believe it. Again. And Again. Lol

Shut It Down Already
Guest
Shut It Down Already

Foreigners always rescue/destroy local real estate markets (delete as applicable depending on prevailing trends).

Boombust
Guest
Boombust

You’re being played by The Van Sun/Global, etc. and you don’t even know it. There is a LOT of ad revenue and developer $$$ at stake. Don’t put it past them to play up the foreign boogiemen angle to scare locals into buying.

Just me
Guest
Just me

Yes. And earth is flat.
Have a walk in Point Grey some time and meet the local residents.

Boombust
Guest
Boombust

There IS a life past Ontario St., idiot.

Oracle
Guest
Oracle

You are a dumb fuck who thinks you can call anyone an idiot and think they are anonymous on internet. 😉

Shut It Down Already
Guest
Shut It Down Already

Ah, the classic “I see lot as of people who look Asian” argument. Anything to ignore the data, eh?

Just me
Guest
Just me

Last week’s government data release, which was the most comprehensive study to date of foreign ownership of Canadian real estate, was just “the tip of the iceberg,” says the director of Statistics Canada’s new housing program.

http://vancouversun.com/news/local-news/foreign-ownership-data-released-so-far-just-the-tip-of-the-iceberg-statscan-director

Just me
Guest
Just me

The new year will bring the release of more data providing a deeper, broader, and “much more nuanced” look into Canadian property ownership, said Haig McCarrell, director of the Statistics Canada division overseeing the Canadian Housing Statistics Program (CHSP)….experts stated the true proportion of foreign-owned properties could be higher. McCarrell said StatsCan hopes future research will illuminate more details about certain kinds of property ownership arrangements.

Just me
Guest
Just me

For example, a property owned by a B.C.-incorporated shell company with foreign owners would, for the purposes of this month’s release, count as Canadian-owned, McCarrell said. Eventually, StatsCan wants to determine how much Canadian real estate is owned by “resident corporations with foreign owners.”

Just me
Guest
Just me

Another area where McCarrell hopes to shed light is overseas residents buying Canadian properties in the name of spouses or children.

If a foreigner buys a Canadian home with money generated overseas, and puts the property in the name of a child attending school in Canada, it would not count as foreign-owned in this initial StatsCan study. McCarrell said future CHSP research could compare tax filings and property title records to find, for example, certain neighbourhoods with disproportionate numbers of multi-million properties owned by “students” with no declared income.

Oracle
Guest
Oracle

I’ve been telling you guys this for years only to be downvoted. Only to be told immigrants and students are poor.

To late. Horses have left the barn.

Shut It Down Already
Guest
Shut It Down Already

Students are super rich. That’s why they share the shittiest accommodations with 4 or 5 of their fellow elite.

Shut It Down Already
Guest
Shut It Down Already

And even when you have that data you’ll insist the picture is still incomplete and there are more foreigners hiding in the shadows. Alternatively you’ll focus on a single neighbourhood where the proportion of such buyers is high and try to imply that it’s somehow representative of the entire city/province.

Just me
Guest
Just me

Sorry. I forgot that there are no mainland Chinese buying in Kerrisdale, Mopunt Pleasant, Burnaby or Richmond. My bad. All long terms residents of BC pocketing million dollar mansions.
I do apologize..

Lost....but not leased
Guest
Lost....but not leased

Correct..the buyers are mutant Caucasians with flattened orbital orbs and jaundiced skin.

Best place on meth
Member
Best place on meth

Sounds like the buyers are some sort of mongoloids.

Lost....but not leased
Guest
Lost....but not leased

Mongols….????Yikes……better build a Great Wall of BC.

……maybe import some foreign workers to build it….the CPR did that 150 years ago and look what a great country Canada turned out to be !!!!!

Shut It Down Already
Guest
Shut It Down Already

Did I say there were none? No, I didn’t. Did I say you’re a dumbass? Repeatedly.

Lost....but not leased
Guest
Lost....but not leased

NOT FAIR 88888888
…..that SIDA algorithm spawn are allowed to vote via Beijing proxy….

Boombust
Guest
Boombust

“The tip of the iceberg”…meaning, there is more research to get underway, that’s all. So, quite trying to read more into this.

paulb
Member

New
33
Price Change
11
Sold
96
TI:7678

http://www.clivestevepaul.com

KickThemOut
Member
KickThemOut

Remember those 15K party? 16K party? 17K party? yeap, I’m sure it will all crash any day now…just wait until it hits 6K!

Why is no one in party mood now?

Just me
Guest
Just me

Clients are identifying housing as having a major impact on their relationships, mental health and well-being, said Michelle Crowley, a counsellor with Family Services of Great Vancouver.

“We’re seeing more and more of it in recent years,” Crowley said. “It’s just been such a growing concern.”

http://vancouversun.com/health/local-health/b-c-counsellors-see-more-clients-struggling-with-housing-anxiety

Crowley said about 90 per cent of her clients now bring up housing as one of their struggles, whether they’re in a government-subsidized apartment or house with two working parents.

Just me
Guest
Just me

For many families, the cost of rent — now more than $1,550 for the average two-bedroom apartment in Vancouver, according to the Canada Mortgage and Housing Corporation — eats up so much of their income that they must cut back on groceries and can’t enrol their children in after-school activities or replace their worn-out clothing.

“Even if someone says, ‘Yes, I’m securely paying rent every month,’ OK, well then, what else has had to be cut down because of it?” Crowley said. “There’s a whole cascade of problems that come from that one issue.”

Oracle
Guest
Oracle

Anti immigrant party only solution at this stage of the game. NDP and Liberals all corrupt.

Shut It Down Already
Guest
Shut It Down Already

Is this why you pretend to be an immigrant? To make your anti-immigrant agenda somehow more palatable?

history
Guest
history

Is this the rigjt time to mention both India and Pakstan came into existence on the same day, August 15, 1947, and would by virtue of this calender value, share the same energy, and N*umerology? What exactly does this foretell for Canadass most glutonous slumlords?

KickThemOut
Member
KickThemOut

Free housing for everyone!!!

Just me
Guest
Just me

Even clients in a position to scrape together a down payment for a home are expressing sadness and frustration over the “generational issue” of not being able to afford property they way their parents and grandparents could, Sutherland said.

“The wish to have one’s own home — that’s a dying dream for people in Vancouver,” Sutherland said.

Oracle
Guest
Oracle

Without a true fight, these relationships are going to fall apart. And the women will have to sell their bodies to make ends meet.

I know this may offend some people but enough is enough. Locals should realize that it’s time to organize. Just need a leader to follow. Time is right.

Shut It Down Already
Guest
Shut It Down Already

And as we all know, every housing affordability crisis worldwide in the last 100 years is rife with stories about how unusual it was for women to sell their bodies to pay the bills you fucking clown.

history
Guest
history

Yet it is Unuzual and Unprecedented that women are the owners of gobs of housing stock, are overrepresented in the FIRE induatry, and have a peculiar addiction to thong wearing on Mexican beaches just days after refinancing the mortgage.
.

Lost....but not leased
Guest
Lost....but not leased

GT blog had a comment and( citing a study) that societies that allow women the vote tend to collapse. IMHO its not the vote itself per se…but the other issues that piggyback it it that ultimately make children and marriage a liability…which then creates a negative feed backloop that feeds the annual 300.000+ immigration.

Re: Real Estate…how many of these women are single…or single mothers.? We had a link to a story of a single mother leveraging her SFH into 2 condos …. one for each of her underaged children.

Would be interesting to see any stats that would show the impact of the aforementioned single women/single mother on RE….

Lost....but not leased
Guest
Lost....but not leased

So….how much did you get…(.give or take a donkey rental or 2 from an approved NDP facility? )

KickThemOut
Member
KickThemOut

Build the wall! Build the WALL!

history
Guest
history

Housing pretty phuque up, eh? What i would do is show the Client how I live, get them in a van.. sell the fixed house and reduce all debts. DRIVE the message HOME

Houses are for speculators and asset stripping refi mortgage Infidels…

Vehicles are for living in

Best place on meth
Member
Best place on meth

The price of oil is over $60 for the first time in two and a half years.

Should be good for the loonie, now if only the coward Poloz would grow a pair and raise rates.

Shut It Down Already
Guest
Shut It Down Already

Fortunately Poloz knows that the differential between WCS and WTI is widening.

history
Guest
history

Hey munchie, Spread the Oil thick, on the rolling paper mon, we have lots of growth to weed out, while the markets adjust to glut.

Just me
Guest
Just me

Are you seriously suggesting Poloz is right in keeping the costs of borrowing at insanely low levels? Really?

Shut It Down Already
Guest
Shut It Down Already

What’s current inflation relative to the target?

Just me
Guest
Just me

Asset inflation has been running at over 20% per year. Housing even more.
Massive redistribution into the the hands of the rich, the gamblers and the foreign investors.

Shut It Down Already
Guest
Shut It Down Already

I’m referring to the parameters which are used to set interest rates. There’s more to a national economy than mortgages in one of its cities.

And if it’s redistribution that concerns you, don’t forget there are two parties to every transaction. One of those parties is receiving cash, the other gets a depreciating asset.

The TSX is hardly making 20% per year, either.

Basically everything you say is nonsense or at least close to it.

Just me
Guest
Just me

What a charlatan you are.
I just went to check on Yahoo finance: since mid-2015, when Poloza dropped the base rate to 0.5%, the S&P/TSX Composite has jumped by almost 33%. From 12500 to 16500 points. Massive runup.

As for the importance of measuring the correct inflation, there is now a healthy debate about the CPI that is routinely used is a correct reflection of the cost of living for most people. Canada is an urban society, most of the population lives in expensive areas like Toronto and Vancouver. Asset inflation has a direct and vastly negative effect on the cost of living for urban households.

You are basically spreading misinformation and should be ashamed of your behavior. Even worse, you want to make it sound plausible. Shame on you.

Shut It Down Already
Guest
Shut It Down Already

Dumbass, mid-2015 was 2.5 years ago. A 33% increase in that time period is not 20% per year or even close. It’s more like 12%, which when compared to the long term average of roughly 8-9% is hardly a big deal.

And no, most of the population does not live in Toronto or Vancouver. Not all large cities are expensive either. Montreal and Ottawa are obvious counter-examples.

Exaggeration and drama queenery is clearly your speciality. And you accuse others of spreading misinformation? Fuck you.

Best place on meth
Member
Best place on meth

Don’t be surprised that the HAM denying scumbag thinks 1% is an appropriate BOC rate.

The hypocrisy is that he rails against locals for taking on too much cheap credit.

What do you do with such traitors? Hanging is almost too good for them.

Abdul Lahazi
Guest
Abdul Lahazi

and I know BS when I hear it.

Shut It Down Already
Guest
Shut It Down Already
Best place on meth
Member
Best place on meth

What a fucking spastic.

You should be in a mental institution, you chinese loving traitor.

Best place on meth
Member
Best place on meth

Sorry, did I say mental institution?

I meant shot by firing squad.

I don’t know what got into me, some sort of weird tolerance thingy that I hope never happens again.

Shut It Down Already
Guest
Shut It Down Already

Grow up, you unemployable dumbass.

Oracle
Guest
Oracle

Looks like I’m being pummelled by HAM on this blog. Will any true locals come to my rescue?? Or will they stay quiet while their land is sold out from under them.

Boombust
Guest
Boombust

Get lost, creep.

Oracle
Guest
Oracle

Notice how HAM attacks in mobs. Imagine 1.3 billion if they ever get an upper hand on the USA.

Hopefully USA puts them in their place soon. Soon.

KickThemOut
Member
KickThemOut

Always looking for someone to do your dirty work, just like Meth and rest of bears on this blog. Lazy asses…and you still wonder why you can’t afford a house.

Aren’t there 1.5 billion Indians just in India?

Lost....but not leased
Guest
Lost....but not leased

You mean around King George Highway and 64 th Avenue ?

bestplaceonearth
Guest
bestplaceonearth

sorry man, talk only, no action.

KickThemOut
Member
KickThemOut

I thought only crystal meth is allowed on this blog….as shown by the blog leader.

BubbleTea
Guest
BubbleTea

Foreign home buyers spent an average of almost 50 per cent more per real estate transaction in the Toronto region than Canadians in recent months, according to previously unreleased government data.
https://www.theglobeandmail.com/real-estate/toronto/foreign-buyers-paying-almost-50-per-cent-more-for-properties-in-toronto-region-after-tax/article37451779/
Perhaps the government should increase the Foreign Buyers Tax to 50% to even the playing field.

Best place on meth
Member
Best place on meth

Raise it to 100% to tilt the field back in our favour and disadvantage the locusts to the point where they just fuck off out of here.

Best place on meth
Member
Best place on meth

Housing market psychology fragile as new mortgage rules loom in 2018

https://www.bnn.ca/housing-market-psychology-fragile-as-new-mortgage-rules-loom-in-2018-1.954757

Toronto is poised to post some ugly year-over-year home price comparisons in early 2018 which will likely “affect the psychology of the market” – even if homebuyers take the new stress tests in stride.

Average prices in the country’s largest real estate market have recently settled into the mid-$700,000s after hitting an all-time high of $920,791 in the spring amid a real estate frenzy.

As buyers and sellers take a wait-and-see approach after the stress tests kick in on January 1, the market will likely be off to a slow start, Scott Ingram, realtor at Century 21 Regal Realty Inc. and a chartered accountant, told BNN in an email.

BubbleTea
Guest
BubbleTea

Canada doesn’t really know how much foreign money is in the housing market
Anti-corruption group says it’s unclear who owns nearly half of Vancouver’s most expensive homes.
https://news.vice.com/en_ca/article/vbybj8/canada-doesnt-really-know-how-much-foreign-money-is-in-the-housing-market

Best place on meth
Member
Best place on meth

It may be “unclear” WHO owns those homes, but we know where they’re from.

KickThemOut
Member
KickThemOut

Wow, you just know! Why are you not VPD’s best detective or CRA best auditor yet!?

Best place on meth
Member
Best place on meth

Oh, you didn’t know?

Whoever said chinese are smart was a fucking idiot.

bestplaceonearth
Guest
bestplaceonearth

well, if you are smarter than they are, why have you let them taken you over?

Best place on meth
Member
Best place on meth

Infestation doesn’t take intelligence.

If it did then rats and cockroaches would be looked up to as our superiors.

Lost....but not leased
Guest
Lost....but not leased

This rather juvenile discussion was settled in the documentary”Team America: World Police”

At the apex of intellectual discussion…a “foreign locust” shape -shifted into a cockroach….and exited the epiphany -drenched expose’ .

Lost....but not leased
Guest
Lost....but not leased

IMHO……Canada was set up long ago to be a money – laundering hotbed.

We have this huge country with the majority of the population concentrated into relatively tiny geographic hovels…aka top 10 Canuckistan cities hold over 50% of the total population. The classic Canuck was a combination of multi- generational or old school immigrants..ie sponsored in..no public assistance.

Once Canuckistan Gov’t used these(mostly Caucasian) suckers for the first 100 years to build Canuckistan into 1st world country…they let the non Caucasians in and take advantage of what we had built through blood sweat and tears..

………..aka whose the REAL SLAVE…???

Boombust
Guest
Boombust

Prove it.

Lost....but not leased
Guest
Lost....but not leased

Bob Rennie……you are a dumb@$$

PS If I have a Beijing post office box..can you put me on the NON round eye pre – sale list ?

southseacompany
Member
southseacompany

“Fed could surprise markets with more interest rate hikes than expected”, CNBC

https://www.cnbc.com/2017/12/28/fed-could-surprise-markets-with-more-interest-rate-hikes-than-expected-.html

“Wall Street economists are warming to the idea that the Fed may raise interest rates four or more times next year, moving faster than its current forecast.”

southseacompany
Member
southseacompany

“Early Christmas for Canadian economy might mean rate hike sooner”, Financial Post

http://business.financialpost.com/news/economy/early-christmas-for-canadian-economy-might-mean-rate-hike-sooner

“Canadian economic bulls got some early Christmas presents last week, and that’s boosted – albeit only slightly – the odds of an interest rate hike in January.”