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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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brento1138
Joined: 17 Nov 2004
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 Posted: Wed Oct 19, 2011 1:30 am Post subject: |
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I really want it to crash, or at least sink a bit... for my own selfish reasons. If it crashes, will that lower my rent? Hope so...
Anyways, in Vancouver, the housing prices are ridiculous. I've seen 70's looking shacks selling for like 400,000+. Crazy... |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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rollo
Joined: 10 May 2006
Location: China
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| Posted: Mon Jan 30, 2012 10:10 pm Post subject: |
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| Housing booms almost never deflate slowly, first a small decrease in price then panic, then off the cliff at least that is what happened in Japan and the U.S. but Vancouver is getting a lot of Chinese money pumped into it so it might have a little ways to go. These booms make a few wealthy and rot out the middle class who are forced to pay higher rents and can not get on the property ladder. There will be a correction! Now that the Chinese bubble is bursting Canada may be next. Good for middle and lower middle class. |
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supernick
Joined: 24 Jan 2003
Location: Seoul
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| Posted: Tue Jan 31, 2012 8:16 pm Post subject: |
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| Housing booms almost never deflate slowly, first a small decrease in price then panic, then off the cliff at least that is what happened in Japan and the U.S. but Vancouver is getting a lot of Chinese money pumped into it so it might have a little ways to go. These booms make a few wealthy and rot out the middle class who are forced to pay higher rents and can not get on the property ladder. There will be a correction! Now that the Chinese bubble is bursting Canada may be next. Good for middle and lower middle class. |
Vancouver has always been very different from the rest of Canada's housing market. These days there are 2 peak cities, one is vancouver and the other is Toronto. Prices are inflated and there will be a hard crash during the adjustment phase. As for the rest of the country, most prices are reasonable, and thise cities won't have a crash like effect from the adjustment. Calgary and Edmonton might seen the bottom fall out if oil prices fall but it looks like we are in the era of high priced oil for the next decade or so.
It has been 2 years since the original poster posted the gloom and doom stories of the bubble bursting, and to this day it hasn't happened. People do know there are risks in certain places, but the sky is still up there.[/quote] |
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rollo
Joined: 10 May 2006
Location: China
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| Posted: Wed Feb 01, 2012 8:01 am Post subject: |
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A lot like Florida and California where prices were crazy and it would never end. while the middle of the country prices only increased moderately. Vancouver as I wrote before has seen a lot of Chinese money pumped into the housing market and more is coming. But it will end
Trying to time these things is a sure way to go broke. When housing is high, cash is king!! So start socking away the loot if you are Canadian your time will come. Crashes are bad but there is also a lot of money to be made and bargains to be gained in a falling market. Oil is also a tricky thing to chart. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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12ax7
Joined: 07 Nov 2009
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| Posted: Thu Mar 15, 2012 10:05 pm Post subject: |
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And that would be the real reason why three major banks slashed their 5 year mortgage rates this week. |
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hack
Joined: 24 Jan 2003
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| Posted: Sat Mar 24, 2012 3:09 pm Post subject: |
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| People keep talking about a decline but as long as the Chinese keep coming with their attitude that Vancouver is cheap, no way are prices going anywhere but up here. The rich Chinese immigrants have seriously skewed house prices here and the applications to move here keep piling up as Vancouver is now regarded by most Chinese as the most desirable place to live in the world. I do as well but I fear one day soon I am going to be a minority here. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Thu Jun 21, 2012 6:24 pm Post subject: |
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Ottawa caps CMHC mortgages at 25 years
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| The most important new change is that the maximum amortization period has been reduced to 25 years, down from 30. The longer a mortgage is spread out, the lower the monthly mortgage payments are � but the more the borrower ends up paying overall over time. |
Plugging the holes? |
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rollo
Joined: 10 May 2006
Location: China
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| Posted: Sun Jun 24, 2012 8:56 am Post subject: |
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| This week Canadian government warned that the housing market was overheated . Lord know Vancouver is ridiculous the middle and lower middle are priced out of the market. A sharp correction would be a good thing. |
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