[tritium]

RUEZ RUEZ:

tritium tritium:

TattoodGirl TattoodGirl:

Its all these offshore buyers buying this shit up and pushing the prices up...then you have a bunch of absentee landlords charging over the top rent...it is bullshit...sorry but you shouldnt get to buy a house unless you live here...fuck em

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.

It may not hit Canada. Banks don't offer a sub-prime mortgage here like they do there.

Yes, but the pending recession in the U.S. will effect housing and interest rates in Canada, no doubt.

Its potential impact is yet to be seen, but I have a feeling it will effect housing prices and stocks.

Personally, I hope not (it would effect me and my investments). I hope it does not effect Canada, but I'm skeptical that Canada's economic boom can go on for ever.

[ShepherdsDog]

High Canadian dollar and a downturn in the American housing market. Doesn't sound too good for forestry/mill workers.

[mtbr]

tritium tritium:

TattoodGirl TattoodGirl:

Its all these offshore buyers buying this shit up and pushing the prices up...then you have a bunch of absentee landlords charging over the top rent...it is bullshit...sorry but you shouldnt get to buy a house unless you live here...fuck em

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.

You're dreamin no sub-prime interest rates in Canada....the world will have to find a substitute for oil before there's a severe downturn in Alberta or Saskatchewan.

Jack in the Box is your kitchen and you'll be livin in your truck for a long time to come.

Prices are still rising

[tritium]

mtbr mtbr:

tritium tritium:

TattoodGirl TattoodGirl:

Its all these offshore buyers buying this shit up and pushing the prices up...then you have a bunch of absentee landlords charging over the top rent...it is bullshit...sorry but you shouldnt get to buy a house unless you live here...fuck em

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.

You're dreamin no sub-prime interest rates in Canada....the world will have to find a substitute for oil before there's a severe downturn in Alberta or Saskatchewan.

Jack in the Box is your kitchen and you'll be livin in your truck for a long time to come.

Prices are still rising

You didn't read the above post fucktard.

Yes, but the pending recession in the U.S. will effect housing and interest rates in Canada, no doubt.

Its potential impact is yet to be seen, but I have a feeling it will effect housing prices and stocks.

Personally, I hope not (it would effect me and my investments). I hope it does not effect Canada, but I'm skeptical that Canada's economic boom can go on for ever.

Signs of a down turn are already happening.

Okanagan condo developer leaves pre-sale buyers in limbo

Construction halted on Fraser Valley condo project

Two more Vancouver-area condominium projects go into receivership

You know mtbr, you remind me of the folks who claimed nothing could stop the Alberta Oil boom in 1980. Sorry to burst your bubble, it happen before, it most certainly will happen again and your fantasyland will become nightmare.

[mtbr]

tritium tritium:

mtbr mtbr:

tritium tritium:

TattoodGirl TattoodGirl:

Its all these offshore buyers buying this shit up and pushing the prices up...then you have a bunch of absentee landlords charging over the top rent...it is bullshit...sorry but you shouldnt get to buy a house unless you live here...fuck em

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.

You're dreamin no sub-prime interest rates in Canada....the world will have to find a substitute for oil before there's a severe downturn in Alberta or Saskatchewan.

Jack in the Box is your kitchen and you'll be livin in your truck for a long time to come.

Prices are still rising

You didn't read the above post fucktard.

Yes, but the pending recession in the U.S. will effect housing and interest rates in Canada, no doubt.

Its potential impact is yet to be seen, but I have a feeling it will effect housing prices and stocks.

Personally, I hope not (it would effect me and my investments). I hope it does not effect Canada, but I'm skeptical that Canada's economic boom can go on for ever.

Signs of a down turn are already happening.

Okanagan condo developer leaves pre-sale buyers in limbo

Construction halted on Fraser Valley condo project

Two more Vancouver-area condominium projects go into receivership

You know mtbr, you remind me of the folks who claimed nothing could stop the Alberta Oil boom in 1980. Sorry to burst your bubble, it happen before, it most certainly will happen again and your fantasyland will become nightmare.

Oil hit 107 today


Its not a nightmare for those have us who've been here for 40 years...Alberta is tough ..Canada will always have its hands in our pockets.

No nightmares for me....sorry for you.

[sandorski]

tritium tritium:

mtbr mtbr:

tritium tritium:

TattoodGirl TattoodGirl:

Its all these offshore buyers buying this shit up and pushing the prices up...then you have a bunch of absentee landlords charging over the top rent...it is bullshit...sorry but you shouldnt get to buy a house unless you live here...fuck em

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.

You're dreamin no sub-prime interest rates in Canada....the world will have to find a substitute for oil before there's a severe downturn in Alberta or Saskatchewan.

Jack in the Box is your kitchen and you'll be livin in your truck for a long time to come.

Prices are still rising

You didn't read the above post fucktard.

Yes, but the pending recession in the U.S. will effect housing and interest rates in Canada, no doubt.

Its potential impact is yet to be seen, but I have a feeling it will effect housing prices and stocks.

Personally, I hope not (it would effect me and my investments). I hope it does not effect Canada, but I'm skeptical that Canada's economic boom can go on for ever.

Signs of a down turn are already happening.

Okanagan condo developer leaves pre-sale buyers in limbo

Construction halted on Fraser Valley condo project

Two more Vancouver-area condominium projects go into receivership

You know mtbr, you remind me of the folks who claimed nothing could stop the Alberta Oil boom in 1980. Sorry to burst your bubble, it happen before, it most certainly will happen again and your fantasyland will become nightmare.

Those situations are the opposite of the US situation from what I understand. Developers are running out of $$, especially on Pre-bought projects, because the Costs to Construct are exceeding expectations. This is due to a Labour shortage in the local Construction Industry. Between the Olympics and high population growth fueling Housing Construction, there's just not enough workers to go around causing everybody to Demand more $$.

[Winnipegger]

Housing prices have been extremely high in Winnipeg for the last few years; nothing like Calgary though, and Vancouver is just insane. Prices are ruled by supply and demand, increase demand with a steady supply and prices will rise. Price rises until prices become so high that demand drops, but when it's housing how do you stop "demanding" a home?

One factor is dropping the minimum down payment. When I bought my house the rule was minimum 25% down payment unless you buy mortgage insurance, and minimum 10% with mortgage insurance. That isn't home owners insurance; the mortgage insurance is in case the bank has to repossess your house. The insurance benefit goes to the bank but you pay the premium. The idea is with 25% equity the bank can sell the house quickly (slightly below market value) and still gain enough to pay for the balance of the mortgage, legal fees, and real estate agent's fees. With mortgage insurance the little equity you have from that small down payment together with the insurance benefit is enough to ensure the bank doesn't take a loss. But the government dropped the minimum down payment first to 5%, then to nothing. This has resulted in increasing demand from people who can't afford an expensive home. That increased demand has driven prices up. Ironically, reducing the minimum down payment was to make homes more affordable to first time buyers, but the result was dramatically increased prices. This initiative has been self-defeating. Time to put the minimum 10% down payment back. That should cool down the housing market!

In Toronto in the mid-1980s, voters demanded the government do something to slow down sky-rocketing housing prices. The provincial government introduces a land transfer tax. Ah huh! My, didn't that help! We need a means to keep homes affordable without charging another tax; the minimum down payment should do it.

[westmanguy]

Its not Canadians jacking up the prices.

To be blunt its Asians from oversees, and mainly South Koreans.

They are coming over the Lower Mainland with their bags of money, buying these locations and jacking up the prices.

My parents looked at buying a house a few years ago, and even friggin Maple Ridge was too expensive.

If my parents move here it will be in an apartment, and I'll be in some cheap dorm with a room-mate in university, and hopefully upgrade into an apartment with a roomate by the time I'm 20.

[tritium]

Winnipegger Winnipegger:

Housing prices have been extremely high in Winnipeg for the last few years; nothing like Calgary though, and Vancouver is just insane. Prices are ruled by supply and demand, increase demand with a steady supply and prices will rise. Price rises until prices become so high that demand drops, but when it's housing how do you stop "demanding" a home?

One factor is dropping the minimum down payment. When I bought my house the rule was minimum 25% down payment unless you buy mortgage insurance, and minimum 10% with mortgage insurance. That isn't home owners insurance; the mortgage insurance is in case the bank has to repossess your house. The insurance benefit goes to the bank but you pay the premium. The idea is with 25% equity the bank can sell the house quickly (slightly below market value) and still gain enough to pay for the balance of the mortgage, legal fees, and real estate agent's fees. With mortgage insurance the little equity you have from that small down payment together with the insurance benefit is enough to ensure the bank doesn't take a loss. But the government dropped the minimum down payment first to 5%, then to nothing. This has resulted in increasing demand from people who can't afford an expensive home. That increased demand has driven prices up. Ironically, reducing the minimum down payment was to make homes more affordable to first time buyers, but the result was dramatically increased prices. This initiative has been self-defeating. Time to put the minimum 10% down payment back. That should cool down the housing market!

In Toronto in the mid-1980s, voters demanded the government do something to slow down sky-rocketing housing prices. The provincial government introduces a land transfer tax. Ah huh! My, didn't that help! We need a means to keep homes affordable without charging another tax; the minimum down payment should do it.

What idiot political party dropped it down to 5% to begin with?? Bastards.