Mortgages getting more expensive

Southseacompany shared this article, looks like everyone’s mortgage is going to get more expensive:

The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signalled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in payments.

Even before Wednesday’s decision, five of the country’s largest banks hiked five-year fixed rates 15 basis points to 5.14 per cent last week. (CIBC is still offering 4.99 per cent.) In a country where consumers have grown accustomed to low rates, and where households are burdened with record levels of debt relative to income, this kind of change is worth noting. A recent survey published by insolvency trustee MNP Ltd.found 48 per cent of Canadian respondents were $200 or less away from being unable to fulfill their monthly financial obligations, an eight point increase since September.

Read the full article over at Macleans.

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Diadora
Guest
Diadora

There are 951,000 households in Metro Van (2016), 348,700 of them rent (no ppty tax) so 612,300 hh ownes ppty and and 200.000 has declared less income than their property tax. That means 1 out of 3 hh, some of which is living in multimillion dollar mansion is ripping us off big time!

Just me
Guest
Just me

The worrying aspect is the inaction of our authorities to pursue the cheaters.

Laibach
Member
Laibach

An even more worrying aspect is that any authorities action could be seen as racist?

“Non-disclosure of assets is a cultural trait of ethnic Chinese, Jenny Kwan is quoted saying at the time in Millionaire Migrants.

“The Chinese are very private about their money.” A law requiring them to disclose assets, Kwan said, “goes against our culture.

DaMann
Member
DaMann

That’s hilarious. “it goes against our culture to pay taxes” is what she should have said. And she gets a free pass on comments like that? That should have her removed from her position. She’s justifying criminal activity. I guess certain cultures get a free pass on everything.

I better go and wait for CRA to ask me for receipts for my bus passes… God forbid they inconvenienced a “culture”.
This country is so fucked…

KickThemOut
Member
KickThemOut

So basically you are proving that CRA trusts you and don’t ask you to mail in your bus passes. Do the top 1% of Canadians have to disclose their assets to public?

ostritch
Member
ostritch

F-Ingrid Hell! So galling. Like Canadian waive their CRA NOAs on the street.

ostritch
Member
ostritch

Ingrid? F-ing. Hell.

Bag it and tag it
Member
Bag it and tag it

Speaking of racism, last year when this Chi-knees airline was busted for racism,
https://www.theguardian.com/uk-news/2016/sep/07/air-china-inflight-mag-condemned-for-racist-guide-to-london
their official response/excuse was (sorry I don’t have the link) that it it’s a CULTURAL thing in China because of their lack of exposure to other races.
Anywho…while looking for that quote, I found this:
https://qz.com/1110191/africans-in-china-an-exhibit-comparing-africans-to-animals-shows-the-chinese-problematic-racial-attitudes/

Best place on meth
Member
Best place on meth

Why do they get away with playing dumb all the time?

Come to think of it, why have we been giving the chinese a free pass on so many disgusting behaviours over so many decades?

Dave
Member

There hasn’t been inaction. They’ve been busy encouraging it.

Oracle
Guest
Oracle

LOL. Naive. Authorities are corrupt. Get what you can in the wild wild west. When all is said and done, you will be at the bottom of the ladder when they bring in the laws preventing social mobility.

Laibach
Member
Laibach

That 30 % or more are well known who they are…

“Who will pay the taxes for universities, health care, and rapid transit if residents of some of Metro Vancouver’s exclusive neighborhoods are reporting poverty-level incomes?

Some homeowners in tony parts of the west side of Vancouver and Richmond are claiming to have income as low as people struggling in Vancouver’s chronically poor Downtown Eastside.

The tax unfairness caused by the growing phenomenon of mansion owners alleging poverty can be traced largely to Canada failing to catch trans-national migrants who refuse to report their total global income at tax times.”

http://vancouversun.com/news/staff-blogs/thousands-of-metro-vancouver-mansion-owners-avoiding-taxes

Doomcouver
Guest
Doomcouver

I feel something will come of this. The story is becoming really high profile thanks to the media outlets. This is a black eye for the CRA. Let’s hope there is a legitimate response from the CRA on this in the near future. The Fed Liberals need to reinstate some of their budget that Harper slashed as well.

BubbleTea
Guest

The CRA did not act when Ian Young exposed their inaction to New Immigrants not paying their fair share of taxes a couple of years ago except going after the whistle blower. I doubt anything will be done this time unless there is a big shake up including the firing of Diane Lebouthillier. People should be mad and not pay their taxes until something is done.

Doomcouver
Guest
Doomcouver

A legitimate tax revolt would be nice to see… Too bad most people’s taxes are automatically deducted off their paycheck.

history
Guest
history

Currency itself is in revolt.

We are poking it in both eyes. The right eye gets the tax avoidance treatment, the left eye gets the Heloc fraud go-over.

Pay attention to Fed language this February, the other cheek to Hedonic adjustment.

Doomcouver
Guest
Doomcouver

Oh yeah, the HELOC market is a ticking time bomb. 40% of Canadians with a HELOC are only making the minimum payments.

LOL
Guest
LOL

My Bro in Law, just renewed Mortgage in Dec, I ask so you got a 5 fixed? No 1 yr fixed, cant afford the 5 yr fixed. He thinks this dec rates will be back down to 0.5 % lol

LOL
Guest
LOL

Then sister chimes in after I say prepare for 2 more hikes, she says no way it will crush us. LOL

PS my sister is a beyotch

Bag it and tag it
Member
Bag it and tag it

Haha…yeah, he’s assuming rates will need to normalize back to the mean of .5

history
Guest
history

Fascist CRA, sniveller golden handcuffed. The tax game is imploding with dozens everyday losing their mailing addresses and moving into their vehicles..

See Saw
Guest
See Saw

Maybe it’s because Ian Young is full of shit.

KickThemOut
Member
KickThemOut

Or maybe CRA with its limited resources are basically realistic and go for the highest return actions, rather than pursuing cases on principle that has low probability of successful money recovery? CRA audit department isn’t setup for principle. It is setup to collect money for government in the cheapest easiest way possible.

ostritch
Member
ostritch

You’ll never be able to force these people to be honest or even dishonest within a reasonable percentage, like 10-15 percent. And no government on earth seems willing to do forego foreign capital. I have no idea what can be done. You need a complete political outsider who knows these guys well to shake things up. Like a Trump.

Doomcouver
Guest
Doomcouver
We’re definitely not going to get it from Andrew Scheer. He’s a smug 1%er just like Fuhrer Harper was. All political parties in Canada want cheaper foreign labor, capital inflows from wealthy foreigners (and they don’t care where that money ends up), and complete destruction of any value-add manufacturing within our borders. If you want to see immigration numbers reduced, or more trade barriers in place for countries like China you have ZERO representation from any of the three federal political parties. I voted Liberal last election, mostly because I wanted to see electoral reform, and to see a beginning of the end to the pointless war on drugs in our country. I guess at least I will probably get one of those things, but economically, the Libs have continued the Conservative’s legacy of hollowing out what’s left of the… Read more »
Best place on meth
Member
Best place on meth

Libs/Cons/NDP are all useless.

We need Proportional Representation, new parties, fresh ideas.

KickThemOut
Member
KickThemOut

Sounds like every other rich bastards or bear I know.

Best place on meth
Member
Best place on meth

Space, do you have any idea why every single person hates your fucking guts?

I mean, other than you being from china.

Bag it and tag it
Member
Bag it and tag it

The problem with the mess the government has made with immigration policy is that we’ve hit the tipping point and nobody from honest countries want to come here anymore…the only people that want to come now are the dishonest cultures that covet our gaping loopholes.

KickThemOut
Member
KickThemOut

Like all those freaking seniors living alone in a big house, instead of selling it to a deserving millennial like BPOM, or immigrant like Abdul at below market price, and buy a more appropriate sized accommodation.

Best place on meth
Member
Best place on meth

You think I’m a millenial?

Holy shit, whoever said chinese were smart was chinese.

Dave
Member

My number of foreign owners was over 25%. The 1 in 3 estimate is consistent with what I think.

A lot of these people are taking more in benefits than they pay. So not only have they displaced local buyers, the taxpayer (you) is helping to subsidize the lifestyle of ‘homemakers’ and ‘students’.

patriotz
Member

“My number of foreign owners was over 25%. ”

That is impossible to reconcile with an owner-occupancy rate of 65%.

Dave
Member

Not when all the paperwork is fake, it isn’t.

Just me
Guest
Just me

That is incorrect. We live in a brave new world were bare trusts and anonymous beneficial owners rule the day. You are dead wrong. Again. It is becoming a habit, I am afraid.

patriotz
Member

The census determines the owner-occupancy rate in the same way everywhere in Canada. Do you believe their results are:
(a) Wrong just for metro Vancouver in 2016
(b) Wrong for the whole country in 2016
(c) Historically wrong for metro Vancouver
(d) Historically wrong for the whole country
(e) Something other than the above

Just me
Guest
Just me

At the very least b. Possibly c.
Yes. Measuring ownership and occupancy in Vancouver is hard. Are you surprised ?

patriotz
Member

“Measuring ownership and occupancy in Vancouver is hard.”

On what evidence? Your belief that the census data is wrong doesn’t count.

Shut It Down Already
Guest
Shut It Down Already

Dave, you’re big on opinions yet short on facts. Trust me on this.

Best place on meth
Member
Best place on meth

You’re a worthless hypocrite who only speaks out against racism for just one race, the rest you don’t give a fuck about.

Bag it and tag it
Member
Bag it and tag it

Our government’s main reason for increasing immigration was/is so that they would help pay the bills increasing with our aging population…and yet that can’t even cover their own costs. Gov don’t care because they’re all about the short term and keeping the big business donors happy like the banks and RE cartel…they’re making plenty off these immigrants.

Doomcouver
Guest
Doomcouver

We need an example made of a few of these crooks. Some jail time for fraud would definitely help.

Best place on meth
Member
Best place on meth

Seize all assets and deport.

Let the chinese government know they’re criminals we’re sending back, that way they’ll go to one of their prisons at their expense, not ours.

Win-win, as the locusts like to say.

patriotz
Member

“612,300 hh ownes ppty and and 200.000 has declared less income than their property tax.”

How is this conclusion being reached, given the disconnect between the income tax and property tax systems?

Burnabonian
Guest
Burnabonian

Source please

doody
Guest

>That means 1 out of 3 hh, some of which is living in multimillion dollar mansion is ripping us off big time

1/3 metro vancouver residents is east asian so…. makes sense.

history
Guest
history

So what? raise rates as much as you want. Ive got several hundred photos of my 20 continuous years in HELOC glory. Several dozens of Airplane vacations south. 51 differrent thong outfits.

I win, Vengence is mine!

Bubble
Guest
Bubble

Everyone with a house got a few thousands of HELOC.
Borrowing is still very cheap.

Laibach
Member
Laibach

Vancouver city councilor George Affleck, who was skeptical of the bid, said he was not surprised that Vancouver was not selected.

“I think it was a reach for Vancouver and the region,” he said, in an email Thursday. “We are not a big business town; and while I respect the ambition behind throwing our name into the mix, I think Amazon could see, as I said at the time, that we don’t have the population for staffing, the infrastructure for connectivity and the real estate for office space. These were crucial items for their second HQ location and we did not tick enough boxes.”

But we have mountains, students, housewives, homemakers and fancy car dealerships, ain’t that good enough?

Doomcouver
Guest
Doomcouver

This isn’t surprising. Vancouver is a backwater but priced like a top-tier city. There are two outcomes of this trend. Either we actually become a New York or London and our prices will make sense (hint: not going to happen) or drastic correction in the cost of living is coming.

Doomcouver
Guest
Doomcouver

*possible outcomes

history
Guest
history

The Canadian West Coast is definitively in the eye of the international glitterati.

They read this forum and learn their hero lives in his van down by the river.. on Vancouver Island… and they say..’holy pineal, that is very cool’

It amazes them so much, that priestly ZonAma is studying the possibility of establishing a new HQ for a new class of mobile humanoids… right in the heart of Mid Island.

Sebastien
Guest
Sebastien

Who cares about mortgage rates! They could be 20% and the market would still soar.

See Saw
Guest
See Saw

Yeah, Right.

Joe Money
Guest
Joe Money

Most of the greatly indebted who stretched themselves to the limit driving home prices higher probably believe that, too.

I’m old enough to remember the consequences of 20% interest rates in the early 80’s.

It wasn’t pretty.

Strata Hacker
Guest
Strata Hacker

Irrelevant. Not going to repeat the ‘80s ever again. Get over it. Our real estate is global now.

Strata Hacker
Guest
Strata Hacker

All that is happening is they are kneecapping local buyers and making it harder to compete with the foreign onslaught. Less locals buying isn’t the outcome we need.

Joe Money
Guest
Joe Money

Money supply was global then. Money supply is global now.

20% won’t happen in the near future but to think that 20% money would not have an effect on asset prices is ridiculous.

Money supply expands; asset prices rise.
Money supply contracts; asset prices fall.

Doomcouver
Guest
Doomcouver

Not soar, I think the word you were looking for is “plummet”….. precipitously.

Oracle
Guest
Oracle

Those that think this latest interest rate hike will affect Vancouver are naive. Im not going to say why but watch sales in March.

And watch Jan sales….after B20. No effect in vancouvr. just watch.

Joe Money
Guest
Joe Money

True. Just like the first few gallons of water leaking into the Titantic would make no difference.

Doomcouver
Guest
Doomcouver

The new OSFI rules are the way bigger story anyways. Squeezing out first time buyers completely will be the last straw.

Strata Hacker
Guest
Strata Hacker

I think you got it wrong. First time buyer already has a stress test since 2016. This new one is for low ratio high down payment buyers.

Doomcouver
Guest
Doomcouver

My brother just bought a condo and he didn’t need mortgage insurance. he borrowed the down payment from the bank of mom and dad.

Best place on meth
Member
Best place on meth

Many of these were still first time buyers who got help from mom and dad to get around the stress test.

Oracle
Guest
Oracle

Another NDP Promise down the drain:

EBY: “ICBC rates will continue to go up. Only ‘targeted’ relief. ” Wow!

List of lies grows longer.

1) LNG insiders sitting in first class going overseas. Kickbacks galore? Petronas etc.
2) Site C passed for LNG
3) Mobility pricing coming. Tolls? Hahaha
4) Rideshare? Study study study

And those coming soon to you

5) Kinder Morgan ‘we couldn’t do anything’
6) Housing? “We can’t act. That’s racist. And we’re immigrants” hahaha
7) Massey Bridge Go ahead “but not the monstrosity the Liberals wanted. It will be 8 lanes instead of 10”. Hahaha

That’s it folks. Keep believing the BS.

BubbleTea
Guest

How was your Hawaiian holiday. Did you get to see the drill?

Oracle
Guest
Oracle

5 days. Honolulu. Lots of Vancouver homeowners there…probably vacationing off undeclared rental income.

Shut It Down Already
Guest
Shut It Down Already

“Going to Hawaii for 2 weeks. I’ll think of you when hiking Diamondhead.”

5 days huh?

Oracle
Guest
Oracle

I’m not a foreign student or a kid of an astronaut family who pay zero income taxes.

So no 2 weeks.

Shut It Down Already
Guest
Shut It Down Already

You mean you were full of shit again? Shocking.

Oracle
Guest
Oracle

Non-event. MSM pumping it up like everything else.

Best place on meth
Member
Best place on meth

What exactly did the NDP promise regarding ICBC rates, whoracle?

Did you enjoy Diamond Head and Mt. Fuji?

Oracle
Guest
Oracle

I can believe some of you can’t see where this is headed.

The goal is to flood the country with 10 year visa holders (why not make it 50 year visa holders) and foreign students and classify them as residents. Then any foreign buyer ban (when they bring it in) won’t mean shit.

Guess naive people deserve this.

Only solution is to immediately cut immigration by 75%. Eliminate 10 year visas and reduce by 80% foreign students coming in.

OTHERWISE YOU THINK YOU HAVE IT BAD, WAIT UNTIL YOUR KIDS GROW UP AND REALIZE THEY DON’T OWN PROPERTY.

TIME TO ORGANIZE IS NOW! NOT TOMORROW!

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

FYI:
Your avatar is not consistent

Laibach
Member
Laibach

Must be highly mobile, frequently moving from resort to resort, club to club and restaurant to bar. It ain’t easy to live the jetset lifestyle.

Doomcouver
Guest
Doomcouver

FYI:
Oracle is not consistent

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

Re Jon McComb interview with immigration Sam Hyman

Hyman also wrote an op-ed for Vancouver Sun in 2015 Titled “Call this what it is: Tax Evasion”

He states that in 2012, The Feds laid off 3,000 CRA auditors.

In addition, apparently 30,000-40,000 households(2015) claim less annual income than their annual property taxes

******NOTE..in the recent McComb interview..he stated that it was 200,000 households..is this an error? if not then its gotten waaaaaay worse.

Good article(2015) to read and compare…clearly the conclusion is the Gov’ts were fully aware years ago…but no appetite to go near this problem which is continually being exposed..the golden goose must be maintainef

history
Guest
history

The Fascists managed to rout the Quality CRA at the same time they screwed over the Researchers. These were casualties of QE.

QE was designed to expose wealth. The spook implemented Crypto and turned our Houses into Currency. The legalization of marijuana is another. Hedonic went apeshit. To satisfy the lust of the Righteous Vengence, fraud was implimented most everywhere except in Dignity Employment. For those that had ethics, virtue and morals, they left society to escape into their vehicles. An example of reducing their footprint in a world awash in NewAge Fascist fanaticism.

bullwhip29
Guest
bullwhip29

Marijuana firms eye Richmond farms
http://www.richmond-news.com/news/marijuana-firms-eye-richmond-farms-1.23148247

>>> fruits, veggies and jack o’lanterns to get more expensive too…

Doomcouver
Guest
Doomcouver

This needs to stop. Between the illegal hotels in the ALR and the marijuana farms, what part of this is helping to preserve our food supply? If Richmond City Hall wasn’t so goddamn useless, they could have put a stop to this decades ago. Christ it makes me so angry.

bullwhip29
Guest
bullwhip29
Lost....but not leased
Guest
Lost....but not leased

Yawn…so predictable that we will end up with a cartel as opposed to competition.
Likely GMO ….

history
Guest
history

Marijuana consolidation moving at lightning speed. Valuations are retarded, But considering the payoffs involved, doesnt surprise me. Dont smoke the shit myself, despite what people here might believe. My Pineal Gland isnt muddied by dope. Weed is highly over rated as a spiritual aid.

bullwhip29
Guest
bullwhip29

so, trudeau’s grand plan wound up being a big real estate play after all…

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

Head of Richmond planning committee Linda McPhail is married to a major Richmond Developer.

Doomcouver
Guest
Doomcouver

They’re all like pigs at the trough. I can’t wait for the slaughter when the money runs out. The schadenfreude will be exceptional.

history
Guest
history

Fascist
Fascist
Fascist

Mom,
Why does fascist get everything first?

bullwhip29
Guest
bullwhip29
YVR
Guest
YVR

Mike Smyth: Premier Horgan flunks foreign real-estate file

Premier John Horgan likes to remind people about his Irish roots, something he did again this week when asked if B.C. will ban foreign real-estate purchases. “I’m a child of an immigrant — I don’t think that’s the way we should proceed,” Horgan said.

“I was shocked by that,” Weaver told me Wednesday. “The problem is not immigrants coming here to live and work,” Weaver said. “The problem is the people who don’t come to live here. It’s about speculators outside of Canada using our real-estate market to park offshore capital, driving up prices for those who do live here.”

http://theprovince.com/news/bc-politics/mike-smyth-horgan-flunks-foreign-real-estate-file

YVR
Guest
YVR

Did Weaver just take over for Eby?

“We need to take bold steps,” Weaver said. “We need to enforce existing laws. We need to clamp down on foreign capital coming in. We need to close the loopholes that allow people to buy property through trusts, shell companies, nominees and partnerships.” Weaver said he’s been swamped with messages of support since he called for the foreign purchase ban. “Some of the most passionate concerns I’ve heard are from people within the Asian community,” he said. “They came here as immigrants, worked hard, paid their taxes, and made enough to retire. Now they see their own children priced out of the housing market.”

patriotz
Member

“Did Weaver just take over for Eby?”

No, because he can say anything he wants and never have to take the responsibility for getting it done.

He can also change his position from his election platform (which did not call for a foreign ownership ban) and not take any heat for it.

patriotz
Member

While we’re at it, I don’t recall you advocating a foreign ownership ban either.

YVR
Guest
YVR

Actually if the NDP had already done all the things they promised with respect to housing a foreign buyer ban may not be necessary at this point. Too bad they have not done any of what they promised and housing prices have gone parabolic. If they insist on not taking any measures then a foreign buyer ban would be an easy way to do at least something. Are you advocating for continuing to do nothing like the NDP have done so far? If I recall you were pumping all that policy they have not done since getting elected this time last year. What changed your mind that it is necessary?

Whistler or bust?
Guest
Whistler or bust?

Like Eby

YVR
Guest
YVR

No, because he can say anything he wants and never have to take the responsibility for getting it done.

Eby said all those things when he was not in control to actually make the changes. Not so much today when he has the power. And the difference is?

history
Guest
history

Yes, someone needs to be the loyal opposition. Sniveller Fascists dont get it they are loyal to secret society.

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

GT site states that real estate commission account for 2% of Canada’s GDP

paulb
Member

New
155
Price Change
27
Sold
69
TI:7159

Readers, if you ever want info on sales or listing activity in your hood or area of interest shoot me an email. I send many users weekly updates each Fridays to help keep them in the loop. No question to big or small. pboenisch@sothebysrealty.ca http://www.clivestevepaul.com

Whistler or bust?
Guest
Whistler or bust?
Shut It Down Already
Guest
Shut It Down Already

We already knew that the bank was warning of this exact scenario for years, but the unwashed masses just kept on borrowing. It’s not the bank that made the error.

Just me
Guest
Just me

Empty warnings, given that they kept luring people into consuming by keeping rates unnaturally low. That is called systemic risk.

Shut It Down Already
Guest
Shut It Down Already

There was nothing unnaturally low about rates when you look at inflation. Obviously that was why they were warning – low rates were never a signal to overextend on housing. Nobody can say they were “lured” with a straight face.

Hyper-mega-Bull
Member
Hyper-mega-Bull

remember when i talked about sinophication and people laughed at me?

Best place on meth
Member
Best place on meth

If our gutless politicians don’t put an end to chinese only signs, then that opens the door to the entire country being covered by signs of countless languages that the vast majority of citizens can’t read.

Richmond needs to be boycotted and deprived of any funding they may be getting from higher levels of government.

A wall is also not a bad idea.

Oracle
Guest
Oracle

Too late for Lower Mainland. English will become one of a few dominant languages in this region.

By 2040, English as a mother tongue will be a small minority in this region. Hate to not be politically correct but you guys (meaning sole English speakers) lost the best area of Canada.

Shut It Down Already
Guest
Shut It Down Already

Much advertising these days is digital and targeted based on profiling/tracking. That’s why you see all those banners on your screen for payday loans and assorted douchebag paraphernalia. A bus is just easier to spot because, well, it’s a bus.

Diadora
Guest
Diadora

Mike Smyth: Premier Horgan flunks foreign real-estate file
“I was shocked by that,” Weaver told me Wednesday.
“The problem is not immigrants coming here to live and work,” Weaver said. “The problem is the people who don’t come to live here. It’s about speculators outside of Canada using our real-estate market to park offshore capital, driving up prices for those who do live here.”
http://theprovince.com/news/bc-politics/mike-smyth-horgan-flunks-foreign-real-estate-file
Next election, I am voting Green.

Dave
Member

He’s just picked up where Eby left off. He’ll drop those ideas just as quickly as Eby did if he gets power. Weaver has already shown himself to be a sellout. Do you really think the Greens are going to stop any of Site C, LNG, Kinder Morgan or the hundred other projects they oppose? No. They sold out their principles in pursuit of power. If given the chance, they’ll do it again.

The only chance for change is voting for the None of the Above Party.

southseacompany
Member
Active Member
southseacompany

“Canadians’ unprecedented debt leads Macquarie to warn on rate hikes”, Financial Post

http://business.financialpost.com/news/economy/canadians-unprecedented-debt-levels-prompts-macquarie-to-warn-on-rate-hikes

“Macquarie says the BoC rate-hiking cycle is already the most severe in 20 years and further increases will have far graver consequences than conventional analysis shows”

“Assuming just one further rate rise, the impact would be 65 per cent to 80 per cent as severe as the 1987 to 1990 cycle, according to Macquarie, which took into account five-year bond yields, household debt and home buying. Canada’s housing market slumped in the early 1990s after that rate-hike cycle and a recession.”

southseacompany
Member
Active Member
southseacompany

“Australia Yields Signal Central Bank Tightening Looms”, Bloomberg

https://www.bloomberg.com/news/articles/2018-01-19/australia-yields-signal-rba-tightening-looms-as-economy-improves

“Investors in Australia’s bonds are boosting bets the central bank will join its global peers in shifting toward a more hawkish policy stance.”

southseacompany
Member
Active Member
southseacompany

“Higher inflation in the US could accelerate Fed’s tightening”, Central Banking

https://www.centralbanking.com/central-banks/monetary-policy/3347031/higher-inflation-in-the-us-could-accelerate-feds-tightening

“Higher inflation in the US in December and rising Treasury yields may encourage the Federal Reserve Board to tighten financial conditions in 2018 faster than previously anticipated.”

Oracle
Guest
Oracle

One of 2 ‘major’ housing announcements to be announced in Budget.

1) A Presale Condo Registry to prevent people from flipping and evading taxes.

2) ?

Thats all. Anyone’s guess of #2.

Sebastien
Guest
Sebastien

Closing the bare trust loophole.

history
Guest
history

Budget will be turning over their van fleet more often to satisfy market demands, that they be used as homes, unencumbered by Fascist influence, meddling and corruption.

Shut It Down Already
Guest
Shut It Down Already

Did you lose a bet and now as a result you’re forced to use the word “fascist” in every post?

history
Guest
history

The secret handshake bet, no, i wasnt PRIVILEGED to be part of that group of pirates

backwardsevolution
Guest
backwardsevolution
“Luo Chuanyun, a 29-year-old liquor distributor, bought his first apartment on Beijing’s northern edge for $150,000 in late 2016, when prices were climbing by more than 20% a year. The purchase put Mr. Luo up to his neck in debt, with mortgage payments of about $15,000 a year on an annual income of a little over $18,000. Mr. Luo said his real-estate agent told him that to find a buyer for his apartment now he would need to sell for half of what he paid. “I’d be short too much money,” Mr. Luo said. Of course, some of the biggest real estate speculation, and subsequent collapses, have been in new development projects with a litany of ‘ghost cities’ popping up and subsquently “selling out” even though no one ever actually moves in. As the WSJ notes, in early December, a… Read more »
backwardsevolution
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backwardsevolution

As the world turns:

“…more than 200 cities across China for the last three years have been buying surplus apartments from property developers and moving in families from condemned city blocks and nearby villages. China’s Housing Ministry, which is behind the purchases, said it plans to continue the program through 2020. The strategy, supported by central-government bank lending, has rescued housing developers and lifted the property market.”

Ghost cities that “sell out” but no one ever “moves in” sounds familiar.

Buying multiple units sounds familiar too.

And, last but not least, the government bailing out property developers sounds really familiar.

People are losing money.