BC, Canada, CMHC, economy, opinion, predictions, prices, supply

CMHC: Pandemic will affect housing market until 2022

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107 Comments

They expect a 25% drop in some regions:

Canada’s national housing agency says the number of new homes being built and sold will remain below the levels they were at before COVID-19 until 2022 at least, and prices won’t get back to where they were for another two years either.

In a special report, the Canada Mortgage and Housing Corporation said Wednesday that the COVID-19 pandemic will lead to a “historic recession in 2020,” which will lead to “significant falls in indicators of the housing market.”

Just like the flu, but more so!

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[…] –Big banks increase cash for bad loans–CMHC housing outlook–The ‘panic inducing’ Realtor– […]

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Laibach

Locust is still sneaking around, regardless. Stubborn they are…

Douglas Todd: China’s real-estate investors down on Vancouver, but not out

https://vancouversun.com/opinion/columnists/douglas-todd-chinas-real-estate-investors-down-on-vancouver-but-not-out

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Laibach

Hopefully, Canada follows suit later in the game…

US floats plan to expel thousands of Chinese college students

https://www.aljazeera.com/news/2020/05/floats-plan-expel-thousands-chinese-college-students-200529134018774.html

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Troll Tracker

Oracle
“Does it really matter.
Dave contributes to this blog and whether you disagree with him or not, you have to acknowledge disparate opinions are welcomed.”

If you suggest that someone who engages in deception doesn’t raise concerns about character and honesty, it says something about you.

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Oracle

How is it deception?

The last 18 years have proved that the pumpers were right about the real estate market here.

They haven’t been proven wrong. Yet. But track record is on their side.

And they will probably be right again. Inventory is at multi year lows for this time of the year.

AND Canada had the biggest spike in incomes year over year ever! 10% higher and media says it was ‘unexpected’. Morons don’t realize everyone is scamming the CERB through loopholes left in.

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Oracle

And the minions here refuse to believe that immigration numbers has been the single biggest cause of the house price run up in the last 18 years.

And I’m suppose to respect dummies who can’t even connect the simple dots? MSM is laughing at these kind of people; makes their narrative much easier to accomplish.

If you want lower housing prices, advocate for much lower immigration numbers. Yes, it’s that simple.

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southseacompany

‘Canada’s Big Six Banks Set Aside Over $10 Billion For Bad Loans, Up Over 300%”, Better Dwelling

https://betterdwelling.com/canadas-big-six-banks-set-aside-over-10-billion-for-bad-loans-up-over-300/

“Canada’s Big Six banks are setting aside a lot more cash for bad loans these days. The sum of total PCLs in earnings reports reached $10.92 billion, up from $2.45 billion last year. These levels have inched higher over the past few years. Prior to the pandemic, insolvencies were climbing to Great Recession levels. However, a 346.42% increase across the board is somewhat surprising. Especially considering how many deferrals and relief programs they’ve been rolling out.”

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Laibach

Sounds like some mini “2007 subprime mortgage crisis”, Canadian version, 2020?

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Hyper-mega-Bull

5,000 years of continuous culture. How does Trump and the west possibly think they can overcome this kind of power

https://streamable.com/buzjqn

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Big Bear

Gengis Khan did.

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Hyper-mega-Bull

He defeated 4200 years of continuous culture. 5000 years of continuous crosses the threshold and enters the realm of invincibility.

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Oracle

The Indus valley civilization dates back 12,000 year! 5000 years is nothing.

How you going to defeat the Indian subcontinent culture?

Maybe by your reasoning, the oldest cultures should dominate the Earth. Okay, ready, set, go. Everyone adopt the Indian culture.

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Laibach

Oracle, you should revisit such tribal thinking, times are changing slowly.

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Best place on meth

Why aren’t the police in Minneapolis shooting the people who are attacking them?

They should be shot dead.

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Shut It Down Already (original)

Much like the VPD did in the 2011 Granville Street Massacre?

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Best place on meth

Spam filter is struggling again, the resident china virus is still posting.

Once that’s taken care of please clean up the shit from the porn sites.

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southseacompany

““Question the motivation of anyone who wants you to believe prices will go up” – CMHC boss slams realtors”, ThinkPol

https://thinkpol.ca/2020/05/28/question-motivation-anyone-wants-believe-prices-will-go-cmhc-boss-slams-realtors/

““Please question the motivation of anyone who wants you to believe prices will go up (yes, up) with our economy in slow motion, oil being given away, millions of Canadians on income support and a greater % of mortgages not being paid than we’ve seen since the Great Depression,” Siddall said.”

““Canada will see a historic recession in 2020 with significant falls in indicators of the housing market. This outcome reflects measures to contain the pandemic to protect public health, and cutbacks in economic activity. The global reach of the pandemic lowered demand for oil, aggravating global excess supply, and resulted in falling oil prices, which will exacerbate declines in the economies of Canada’s oil-producing provinces.””

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Troll Tracker

Hey Dave,
I believe you self proclaimed to be a long standing elder with some history, and so you might be able to shine some light on a mystery.
There was once a blogger realtor who had installed a widget that showed how many people were online following the conversation thread.
Then some tech savvy geek exposed the fact that all those online were from the same IP address.
Then realtor blogger quickly removed the tally tab upon being outed for the deception, and sometime later, shut down the blog, and so I wonder if you know who the realtor blogger was.

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YVR

Was it Rob Chipman aka Dave?

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Whoracle

LOL

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Oracle

Does it really matter.

Dave contributes to this blog and whether you disagree with him or not, you have to acknowledge disparate opinions are welcomed.

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Best place on meth

Or, in Mr. “buy at the top” Dave’s case, desperate opinions.

I heard he just bought Amazon at a ludicrous mind blowing P/E of 280 and even bragged about it.

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Shut It Down Already (original)

Amazon’s earnings are artificially low due to their longstanding re-investment in future growth. Everybody knows that.

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Oracle

Trump signs executive order! Bammm!!!

You can use the word China and Virus in the same tweet now.

After the next election, we need to disband and break up media. Hopefully a majority in Congress will do that.

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Shut It Down Already (original)

Twitter finally need to start enforcing their own T&Cs (the very ones he agreed to) and kick him off permanently for his daily breach of them.

I’m sure you’ll understand, Oracle, you’ve been there…

Perhaps first they should remind him that his hand-picked team found no evidence of the 3-5m fraudulent votes he claimed took place in 2016, and the commission was quietly dissolved in embarrassment shortly afterwards.

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backwardsevolution

Twitter, Facebook, Google and others were deemed to be PLATFORMS by the U.S. government years ago. Platforms are supposed to be NEUTRAL and they all were given an exemption from being sued.

But they’re not acting like “platforms”, are they? No, they’re acting like “publishers”, where they go about deciding what can and can’t be said. That wasn’t part of the deal. Publishers can be sued.

They want it both ways, just like spoiled children. They want to censor you, shadow ban you, decide what’s “fact” and what’s not (like private publishers do), but they also want to keep their “platform” exemption because then they can’t be sued. In order words, they want to be king.

These corporations are monopolies in need of some serious competition.

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Shut It Down Already (original)

No, they’re not required to be neutral. You’re misunderstanding the law if that’s your belief. In fact, legislating neutrality would be infringe upon their own first amendment rights.

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backwardsevolution

They are monopolies that need to be broken up then. And if that doesn’t work, the government then should step in and create its own neutral “platform”. We can’t have monopolies, especially ones who buy off the politicians, dictating what’s right and what’s wrong.

These tech companies are relatively new. This will get sorted out, even if it’s to their own detriment.

Follow the money.

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YVR

Twitter played right into Trumps hands. Just like the fake news. It is fun watching these left wing radicals getting exposed and body slammed.

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Bag it and tag it

I believe the EO was to allow people to sue Twitter for content posted, so I think they’d be more likely to not want to have China and Virus in the same sentence. It would also seem they’d consider banning Trump if they are responsible for his misinformation.

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Shut It Down Already (original)

He needs Twitter more than they need him, especially now that he can’t hold his rambling two hour “coronavirus” Nazi rally substitutes. Perhaps his focus should be on saving the next hundred thousand lives instead of lashing out against the platform he elected to use as if they’re responsible for him being the most unpopular president in modern history.

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backwardsevolution

Trump’s focus WAS on saving lives when he mentioned taking Hydroxychloroquine as a prophylactic. It’s a cheap, off-patent anti-malarial drug that they’ve been using (in the U.S. military, in India, in Asia) for seventy years! It works, as long as it’s taken early.

Dr. Fauci, the WHO, CDC, NIH, Bill Gates, big Pharma are all involved in trying to shut down debate because they want to develop an expensive vaccine that they hold the patents on. Meanwhile, thousands more will have to die, and the blood will be on their hands!

The truth is starting to come out now, thanks to some good investigative reporting. Heads should roll when the truth is discovered.

Follow the money.

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Shut It Down Already (original)

There’s no clinical proof that “it works” to either treat or prevent Covid-19.

Furthermore, trials have been halted around the world due to their negative outcomes.

Those are indisputable facts, and your dumb conspiracy theories (which would require tens of thousands of compliant actors worldwide) are laughable.

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backwardsevolution

Interesting that many countries, who had been conducting clinical trials, have now cancelled them. I wonder why. Is it because we wouldn’t want to end up with favorable results? The U.S. is conducting a clinical trial, but the results won’t be known until September. India conducted a study of approximately 10,000 members of its police force. One-half got the anti-malarial drug, one-half didn’t. More died in the group that didn’t get the drug. The vested interests like to cite the VA study. You know, the one where HCL was given to patients who were almost dead. Of course it didn’t help them because the drug is an anti-viral and by the time it was given to these men, their immune systems were already in a full cytokine storm. Yes, it does work, if given early. Of this I am quite… Read more »

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YVR

Twitter banning Trump would be like CNN not reporting on Trump. All they have is Trump. The deranged who watch CNN and use Twitter are obsessed with Trump. If Trump left Twitter where ever he went to post would be the new biggest social media platform with all the deranged first to follow him there. It is like SIDA follows me around. He is obsessed.

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Shut It Down Already (original)

Twitter isn’t even the biggest social media platform today, LOL.

Let him leave or get banned. Nothing of value will be lost.

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YVR

Shut it down already says the most frequent poster of the blog he wants shutdown. As CNN shrieks ban Trump from twitter as they obsess over every tweet and base 95% of their content on Trump.

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Shut It Down Already (original)

They won’t need to ban him because the thrust of his Executive Order won’t make it through any legal challenges due to the volume of decisions in such matters that the courts have already handed down. But they totally should, because he’s one of the worst violators of their terms – an unimaginable honor to be bestowed upon the office of the president.

In the meantime they can continue to slap big fat fact check stickers on his persistent campaign of misinformation without infringing on anybody’s constitutional rights. Looking forward to them doing that next time he brags about his imaginary polls.

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Oracle

Quit rambling and making a fool of yourself and getting owned repeatedly.

You’re no doctor level intellect. Try joining the United Front and maybe try to get a gf.

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Shut It Down Already (original)

It’s so cute how you all close ranks when you sense one of your own is in peril.

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backwardsevolution

Who do you work for, SIDA? ADL? Who employs you? They’re really wasting their money because you’re wrong almost 100% of the time. Talk about spreading disinformation!

What legal decisions are you talking about? Cite some.

Twitter is chartered to be a “neutral platform”, a place where you get to throw ideas against their wall. They have no mandate to start deciding what’s right, what’s wrong, who gets to say what.

I have a feeling you’re very aware what happens when you stifle free speech and hold back the truth. It eventually comes out, and it’s ugly when it does.

Follow the money.

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Shut It Down Already (original)

As you wish:

Wilson v Twitter
Johnson v Twitter
Taylor v Twitter
Brittain v Twitter
FAN v Facebook
Loomer v Google
PragerU v Google
Gabbard v Google

LOL.

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backwardsevolution

Thank you for the citations. I’ll check them out. I feel especially sorry for Tulsi Gabbard who got screwed by Google. Money needs to be taken out of politics completely, otherwise the tech companies (and others) just buy off the politicians. That’s why this problem has not been resolved. Citizens United needs to go. The law should be that if ANY politician takes one cent from anyone, other than their government salary, they get serious jail time. President Trump is completely right, and he was brilliant to let these tech companies censor enough sites in order to draw attention to what’s happening. You never need to hang your enemies; they will always hang themselves. Just give them enough rope. You’re an advocate for the big tech companies, big pharma, financial and real estate corporations, monopolies, non-stop immigration, China – a… Read more »

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Best place on meth

Twitter needs to be shut down for interfering in the 2020 election and Jack Dorsey should be executed for treason.

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paulb

New
154
Price Change
54
Sold
69
TI:10910

http://www.instagram.com/clivestevepaul

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Shut It Down Already (original)

LOL.

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Laibach

C’mon, who’s gonna laugh today?

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Oracle

All depends on if there is a 2nd wave.

Based on results from winter in Southern Hemisphere, it could get ugly here in 5 months.

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Best place on meth

Yes, the chinese run nursing homes are going to have another battle on their hands.

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Best place on meth

The usual retarded vermin for reasons nobody else will ever understand nor want to.

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Werner Stein

It’s true — banks, financial institutions, real estate brokers, and mortgage professionals have all worked to drive up Canada’s home prices, hurting consumers (and their pocketbooks) in the process

https://mortgagecalculator.ca/News/Exposing-Rampant-Fraud-in-Mortgage-and-Real-Estate-Industries

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Shut It Down Already (original)

This must be the 7th or 8th time you’ve posted this link.

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YVR

If you only repeated your drivel 8 times we would all be happy. Sadly with no life, no friends and a family who hates you your life is this blog.

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Shut It Down Already (original)

Oh no, the racist scumbag doesn’t like me. Imagine my disappointment.

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YVR

Can you name someone who does like you? Didn’t think so. Loser with no life.

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Shut It Down Already (original)

I’m crying here.

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YVR

Owned again. LOL

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Whoracle

Does this sound familiar?

“You seem to struggle understanding anybody’s position when it doesn’t fit neatly into one of your preconceived pigeonholes.”

Calling the entirety of this board Nazis, Far Right, precisely fits your preconceived pigeonholes as per your statement copied above.

This whole board detests you, and funny as it is, your owned here yet again.

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Whoracle

*you’re

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Shut It Down Already (original)

LOL. Took you 3 minutes to correct.

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Whoracle

LOL smh.

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Shut It Down Already (original)

You seem confused, because I’ve already made it perfectly clear that I don’t give a fuck what racist scumbags think of me.

And just a reminder for you, crayons and all – anybody who uses or defends the use of racial slurs is a racist scumbag.

All clear now?

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Best place on meth

And nobody gives a fuck what you think of anyone or anything because you are a worthless piece of shit and your opinions have zero value so fuck off and die already.

Just like china you are universally despised by everyone, arrogant shitty little china man.

Arr crear now?

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Whoracle

I think this post menopausal foolish bitch thinks that it’s fighting some sort of crusade here, while making a royal fool of itself, as indeed no one cares or values its “work”. That maybe its greatest frustration. At least it can feel somewhat alive when we respond to it.

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Whoracle

Again your own words: “You seem to struggle understanding anybody’s position when it doesn’t fit neatly into one of your preconceived pigeonholes.”

Please take them to heart, as you are not understanding anybody’s position with your irrational and incorrect labels.
You simply “just don’t give a fuck” about the imaginary demons in your head. That is where it ends, as you aren’t addressing anyone here.
Therefore in summary, you are hated here by all in this forum, as all here are NOT Nazis or racist scumbags.

I sincerely hope that cleared it up for you.

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Shut It Down Already (original)

Again, you’re confused.

People who use racial slurs or defend the use of racial slurs are racists.

Playing obvious games of ignorance is a losing strategy, I’m afraid.

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Werner Stein

“Every person deserves affordable, livable housing. In many low income neighbourhoods, tenants live with mold, pests, broken elevators, and other challenges because landlords will not do the repairs needed. ACORN Canada members fight for landlord licensing, building inspections, and stronger enforcement of maintenance rules and by-laws.”

https://acorncanada.org/campaigns

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Werner Stein

“Our aim is to demand an apology from Mr. Sam Cooper and Global News to the Canadian-Chinese community as well as compensation for damages,” the pitch on the Maple Leafs Anti-Racism Actions Association website says.”

If you think the trolls here play the race card, read and weep.
https://www.theglobeandmail.com/politics/article-trudeau-vows-to-look-into-report-that-ministers-account-promoted/

Sam Cooper deserves better than this.

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Laibach

Did anybody check who are those “Maple Leafs Anti-Racism Actions Association”? Are they some underground criminal terrorist organization? Are they legal at all and what are they doing in Canada?

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Dave

Don’t conflate yourself with Sam Cooper. He exposes theives, you promote them.

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Whoracle

The thieves are the globalists and the fake “global economy”
This is blow-back.
Nationalists vs Globalists.

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Oracle

You sound like me it’s scary. WTF!

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Whoracle

Bizarro world.

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bobby

i before e except after c.

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Best place on meth

Wechat has to be shut down in Canada.

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southseacompany

Tweet from Evan Sidall:

“Here’s more on our house price outlook. Some vocal real estate advisors have labelled us “panic-inducing and irresponsible,’ saying essentially that house prices don’t go down. They’re whistling past the graveyard and offering no analysis. Here’s ours. You decide.”

https://twitter.com/ewsiddall/status/1265851876379185152

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Whoracle

LOL Classic!

Thanks for the link.

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Werner Stein

Big Bear
“Please write to your MLA to cancel rents. No rent debt. I just did.”

I did as well.

And also remind the MLA that the bubble needs to burst.
The damaging legacy will only get worse as more time goes by.

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Big Bear

Thanks. Landlords going bankrupt will be good for the economy on the long run.

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YVR

“They expect a 25% drop”

When the government agency that backs the housing debt forecasts a 25% drop you know the shit is about to hit the fan. The educated are about to get an education on leverage in reverse.

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Werner Stein

“The scope and intensity of money laundering in British Columbia has been “unprecedented” over the past decade, criminologist Stephen Schneider told the Cullen Commission of Inquiry into Money Laundering over a two-day examination of his 171-page analysis of the subject.”

https://www.vancourier.com/vancouver-s-money-laundering-problem-unprecedented-criminologist-tells-cullen-commission-1.24141631

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Werner Stein

I wanted to repost this so that the embarrassment would not be forgotten and buried.
From yesterday:

https://www.td.com/ca/en/investing/direct-investing/trading/thinkorswim/

“Test with no risk using a paperMoney® account … Run through scenarios with up to $100,000 virtual dollars before putting them in to practice …”

If you want to pretend you are a day trader, you could use this tool, and take a screen shot of the fake trade.
But who would be such a narcissistic troll?

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Big Bear

Please write to your MLA to cancel rents. No rent debt. I just did.

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Shut It Down Already (original)

No.

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Big Bear

Why? You’ll be happy when there’s gonna be a 100,000 homeless in town, don’t you?

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Shut It Down Already (original)

Also no.

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Whoracle

This here classically exposes the hypocritical neo-liberal left, as is this (Shut Imbecile Down Already) specimen above.

They advocate for free stuff or for their party that encourages it, unless they are those who would have to give their free stuff away, and or those who would be the affected losers when the free stuff is given away.

Little do they realize that they were always losers:)

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Shut It Down Already (original)

You seem to struggle understanding anybody’s position when it doesn’t fit neatly into one of your preconceived pigeonholes.

As stated multiple times already, those who cannot pay rent are rightly protected from eviction. Those who choose to withhold their rent despite being to afford to do so will fully deserve the consequences of their actions when the time comes. Stealing isn’t cool.

I want those who warrant protection to be protected, and those who seek to take advantage to have strong incentive not to do so.

Let me know when you understand, if indeed you ever understand.

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Whoracle

This is not that hard.

Do you understand that you are assuming and creating narratives based upon those assumptions?

I don’t recall anyone who could “afford it” advocating not to pay rent.
If they are not working or not bringing in the same income as before this plandemic, the situation technically reduces or prohibits them being able “to afford it”.

Clear? Or is that too much to expect from you?

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Shut It Down Already (original)

Dummy, people who cannot afford to pay it just don’t pay it. They don’t need to start a movement trying to encourage others not to pay, as they’re currently protected from eviction by law.

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Whoracle

Your reading comprehension issue sand your destructive habit of stupid assumptions don’t go away when you name call.

One can only be embarrassed for you.

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Whoracle

*and

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Whoracle

HAHAHA “You seem to struggle understanding anybody’s position when it doesn’t fit neatly into one of your preconceived pigeonholes.”

I mean this sincerely, you really need to to take your own advice, your projecting is so outrageously ridiculous at this point, considering your posting history here.

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Shut It Down Already (original)

“I know you are but what am I?”

You need to be more creative.

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Whoracle

LOL…Delusional.

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Shut It Down Already (original)

I knew you wouldn’t be able to manage it.

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Whoracle

You’re right. Only a psychiatrist could maybe manage your delusion and hypocrisy.

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Shut It Down Already (original)

Do you realize you’re incapable of presenting any sort of coherent argument and just feel compelled to lunge at the reply button every time I post?

Consider yourself lucky I’m generous enough to patiently explain things to you.

Now pay your rent.

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Oracle

Stop it. You’re getting owed badly. I can see the trembling in your sentences. Hahaha.

Check whores writing compared to yours. Lol

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Shut It Down Already (original)

It’s quite hilarious how you, YVR, and his new pet have the exact same gaslighting strategy.

Just tell people they “got owned” and then run away, because that’s the absolute limit of your intelligence.

Sad.

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Oracle

You did. Owned very badly. You’re delusional to think otherwise.

Reread the thread.

And stay in school.

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Whoracle

Do you realize that you are not telling the truth, just lying? I thought not.

No rent payment, no cry.

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Shut It Down Already (original)

Is there some specific right-wing gaslighting course you guys attend on 8chan or whatever?

And all because you can’t accept that it’s immoral (and a breach of contract) to voluntarily withhold rent when you’re able to pay. I wonder what else you feel you’re entitled to? Free groceries maybe?

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Whoracle

“You seem to struggle understanding anybody’s position when it doesn’t fit neatly into one of your preconceived pigeonholes.”

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Whoracle

Yes.
This will ultimately serve a blow to this globalist system, globalist economy, that has been forced and mandated upon our LOCAL populations.

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