Comments on: Canadian Real Estate Expected To See A “Historic Correction,” Biggest Drop Ever: RBC

By: Chas

Chas — Mon, 25 Jul 2022 20:52:27 +0000

In reply to J. “Welcome news” says RBC. It is sort of like a doctor telling you that is has to amputate your feet but - welcome news; the guy in the next bed wants to buy your slippers! Also after being wrong for twenty years they want us to believe it will all be over in a year, unless, as they state, it is not! Forest Gump could do better forecasting. Stupid is as stupid says!

By: dan

dan — Mon, 25 Jul 2022 14:22:50 +0000

yay !! the moment we’ve all been waiting for. let it crash!

By: Moe Vyas

Moe Vyas — Sun, 24 Jul 2022 17:38:36 +0000

Great article, informative and timely.
Please explain the abbreviations like HPI etc, at first usage to improve our overall comprehension .
Thanks

By: gordon wong

gordon wong — Sun, 24 Jul 2022 16:04:39 +0000

It’seems that when interest rates goes up real estate prices fall and when iinterest rates goes down real estate prices goes up. Remember when mortgages were 21 percent?

By: Rahzel

Rahzel — Sun, 24 Jul 2022 06:16:49 +0000

They were thinking sink money into an asset that the government has been known to backstop instead of losing purchasing power of cash…. take advantage of deeply negative borrowing rates that the government intervened in the market to create. .. and plus the central banks essentially eliminated bonds by suppessing returns, further driving capital into asset markets.. people were following the governments intervention… in my market in BC there was a massive influx of investors from surrey and Vancouver. Not trying to be racist but there was literally a lineup of Indian Canadians at every detached house for sale during covid. I would rough guess 1 out of every 2 sold houses went to an Indian investor. In my neighborhood roughly 25% of houses are currently sitting empty with 3 foot tall grass.

By: Woolsock

Woolsock — Sun, 24 Jul 2022 02:04:32 +0000

In reply to Kim. They were thinking there was no reality it would ever fall as there was no evidence in any Canadian market that bucked the trend, so mortgage up and gets you some house, no matter what it costs you, just like every other good Canadian adult. Plus renting is a truly dehumanizing experience unless you have landlords who are the nicest people in the world. Reality sneaks up on everyone at some point. This time it may sneak up on an entire damn country.

By: J

Sat, 23 Jul 2022 20:47:17 +0000

In reply to Kim.

I’m a normal Canadian immigrant. Came at 6 yrs old and am now 40 yrs old and still saving up for a place that’s out of reach. I make 65K + 10-20K performance bonus in the SW Ontario Auto Manufacturing Sector. With my partner’s income, we cross ~100-120K before taxes (Not every fiscal year = performance bonsus in the Auto Sector /sadface). The most we can qualify for is 500K. So we’re above “median” according to stats Canada – that’s the clue for me that there are some shady shenanigans going on. Teach kids about fiscal responsibility – apparently schools aren’t doing that anymore and the “professionals” that suppose to serve the public are somewhat morally corrupt. Greed be greedy. Laws need to be changed and new ones implemented if we expect to be competitive and a G7 Nation in the coming years. PS… invest in Water Rights.

By: Kim

Kim — Sat, 23 Jul 2022 19:06:08 +0000

It’s funny it’s actually easier to believe that,
then it was normal Canadians trying to buy their first house.

By: J

Sat, 23 Jul 2022 18:58:07 +0000

In reply to Kim.

Organized crime rings – Canada is the world’s #1 turn key money laundromat. Ever wonder how Russia is okay even after all the sanctions? We’re responsible on some degree as a country. And before you begin calling me a conspiracy nut, just ask the question. Are the good money laundering operations going to be easy to catch? Not with our laws.

By: Kim

Kim — Sat, 23 Jul 2022 18:38:53 +0000

In reply to Remington. I still have to wonder what were people thinking? I was trying to grapple with who the hell is buying these houses, it was utter insanity.