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TheCountOfNowhere

Canada Being Over Run By Bears

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http://www.theprovince.com/business/will+2016+year+vancouver+housing+bubble+bursts/11603582/story.html

"

Will 2016 be the year the Vancouver housing bubble bursts?

U.S. short-seller says signs point to a real-estate ‘debacle’ in Metro Vancouver"

"Outspoken U.S. short-seller Marc Cohodes uses frightening words to describe his outlook for Vancouver real estate in 2016."

"The root of the federal government’s concern is that housing prices, especially in Vancouver and Toronto, have soared far above wages in the past decade." In the UK?

"The speculators and money launderers will get burnt. But it will be good for younger people and the economy in the long-term.”" in the UK ?

"Cohodes specifically targeted the massive Ontario-based mortgage lender, Home Capital Group. Two weeks after The Province’s story was published, the company announced it was cutting ties with 45 mortgage brokers because of suspicious loans." Oh Vera !!!

"Cohodes and others believe volatile market forces could push interest rates higher in Canada."

"ttp://business.financialpost.com/news/economy/canadas-ever-growing-housing-bubble-as-albertas-market-tumbles-the-rest-of-the-country-wonders-whos-next

"

Canada’s ever growing housing bubble: As Alberta’s market tumbles, the rest of the country wonders who’s next"

"As of July, residential home resales were down 14.7 per cent from last year" And the UK ?

" Prices were also holding, with the average home selling for $394,977, about the same as last year" And the UK ?

"the health of any real estate market hinges on three pillars: the economy, consumer confidence and mortgage rates. " But Not in the UK ?

"overheated markets in some cities. Regina, Winnipeg and Toronto were cited as “high risk," London's different though right ?

http://www.cbc.ca/news/politics/canada-election-2015-debate-housing-1.3234546

"

Housing bubble risk has federal leaders at a loss

Is Canada ill-prepared for a possible housing price crash?"

"Economists, Realtors and academics are at odds over the possible scope of a Canadian housing bubble, and the federal party leaders are offering few fresh ideas on how to cope with a potential crash" And in the UK ?

" the politicians were asked how they would guard against a potential burst in the housing market and if imposing limits on foreign ownership is a possible solution" ....Is Canda and the UK the same country ?

"Hilliard MacBeth, an Edmonton-based investment adviser with Richardson GMP Ltd., disagreed with Harper's rosy perspective and is convinced a "dangerous" housing crash is on the way" Surely not !!!

"and it may be too late to rein in the risk." : No s**t Sherlock !!!

"If anybody directly addresses it, it might be the cleanup," he said. "It's a dangerous bubble, and managing the burst of the bubble, the unwind of the excess, is going to be the challenge." :lol: :lol: :lol: :lol:

http://www.huffingtonpost.ca/2015/11/03/canada-housing-market_n_8461888.html

"

5 Signs Canada's Housing Markets Are Out Of Control"

"We’re topping the global housing bubble rankings" Where does London Sit ?

". Mortgage fraud is "thriving."" Not in London though thankfully.....

" Foreign investors are emptying out neighbourhoods " : Not in London though thankfully.....

"Even the CMHC thinks it's gone too far." And the BoE/Osborne is not reigning in BTL....

http://www.bnn.ca/News/2015/11/11/CMHC-chief-paints-bleak-picture-of-risks-to-Canadian-housing.aspx

"

CMHC chief paints bleak picture of risks to Canadian housing"

http://www.theglobeandmail.com/globe-investor/global-investors-flock-to-canada-housing-bonds-amid-bubble-concerns/article26348599/

"

Global investors flock to Canada housing bonds amid bubble concerns"

"The demand comes amid record household debt and lofty house valuations, which have made the stocks of Canada’s largest private mortgage insurer and biggest non-bank lender the two most shorted in the country."

http://wolfstreet.com/2015/09/16/time-bomb-under-canadas-housing-bubble-makes-a-loud-tick/

"

The Time Bomb under Canada’s Economy: Soaring Household Debt, and Suddenly Delinquencies!"

They've no sub-prime problems...all those oil jobs were "prime" borrowers till this year.

http://ipolitics.ca/2015/10/09/harper-is-playing-politics-with-a-housing-bubble-ready-to-pop/

"Harper is playing politics with a housing bubble ready to pop"

"When you’re faced with a raging brush fire, you can try to douse it or leave it alone and hope that the blaze dies out. If you’re Stephen Harper, you look for the closest can of gasoline." Might as well substitute "Steven Harper" for no end of UK names.

I could go on.

We all know it's coming...in Canada too.

Why has no one seen this coming.

Edited by TheCountOfNowhere

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But surely it's because of a shortage of land?

Exactly. Nothing to do with easy lending, oh no. Small island, growing population, millions of Polish immigrants - that's what's caused Canadian HPI.

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But surely it's because of a shortage of land?

Toronto was up 8% this year!!!!

You think London cant get any crazier but it can !!!

The question is...is it more bail outs/QE ( I suspect yes, why would they expect otherwise ) or real pain for the borrowers ( haven't seen much of that since 2000, why change now ).

Look at the reporeting for london:

http://www.standard.co.uk/news/london/london-faces-risk-of-housing-bubble-by-2017-report-warns-a3104941.html

"

Is London heading for another property price bubble as soon as 2017?"

Not....are we in a masisve bubble or, bubble will collapse...these ****s think the bubble hasn't started !!!!

Meanwhile...700K for a 1 bed flat in battersea !!!!!!

Holy f***k.

Look at the comments !!!!!!!!!!

It's insanity

Edited by TheCountOfNowhere

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"http://www.telegraph.co.uk/finance/property/house-prices/11963302/London-on-course-to-become-next-house-price-bubble-fatality-warns-UBS.html"

"

London on course to become next house price bubble fatality, warns UBS"

http://www.theguardian.com/money/2015/oct/29/london-house-prices-most-overvalued-world-ubs

"

London house prices most overvalued in the world, says UBS"

http://www.ft.com/cms/s/0/d364168a-847a-11e5-8095-ed1a37d1e096.html

"

London property bubble risks are overblown, say agents" :lol::lol::lol:

http://uk.businessinsider.com/deutsche-bank-calls-the-top-on-londons-insane-property-bubble-2015-10?r=US&IR=T

"

Deutsche Bank: We can already see how London's insane property bubble will end"

Mixed back of reporting on London.

I do love the "UBS BANK is wrong" one though.

Banks saying bubble...everyone with a house in London saying otherwise....hmmmmmmmm

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No wonder Carney doesn't want to f**k off back home! <_<

Mark Carney stands to earn £7million if he serves a full eight-year term as Governor of the Bank of England.

The Canadian, paid £874,000 a year, including a £250,000 housing allowance, said he would do the job for five years on taking the helm in 2013.

But in a sign that he may be willing to stay on for an extra three years, he has now said he has ‘so much more to do at this institution’.

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No wonder Carney doesn't want to f**k off back home! <_<

It's odd that the London mega bubble coincided with Carney arriving from Canada, is he responsible or is it coincidence ?

Now the Canadians are s**ting themselves that this is not sustainable and we have MSM telling us there is no bubble despite warnings from two of the biggest banks in the workd.

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http://www.theprovince.com/business/will+2016+year+vancouver+housing+bubble+bursts/11603582/story.html

"

Will 2016 be the year the Vancouver housing bubble bursts?

U.S. short-seller says signs point to a real-estate debacle in Metro Vancouver"

"Outspoken U.S. short-seller Marc Cohodes uses frightening words to describe his outlook for Vancouver real estate in 2016."

"The root of the federal governments concern is that housing prices, especially in Vancouver and Toronto, have soared far above wages in the past decade." In the UK?

"The speculators and money launderers will get burnt. But it will be good for younger people and the economy in the long-term." in the UK ?

"Cohodes specifically targeted the massive Ontario-based mortgage lender, Home Capital Group. Two weeks after The Provinces story was published, the company announced it was cutting ties with 45 mortgage brokers because of suspicious loans." Oh Vera !!!

"Cohodes and others believe volatile market forces could push interest rates higher in Canada."

"ttp://business.financialpost.com/news/economy/canadas-ever-growing-housing-bubble-as-albertas-market-tumbles-the-rest-of-the-country-wonders-whos-next

"Canadas ever growing housing bubble: As Albertas market tumbles, the rest of the country wonders whos next"

"As of July, residential home resales were down 14.7 per cent from last year" And the UK ?

" Prices were also holding, with the average home selling for $394,977, about the same as last year" And the UK ?

"the health of any real estate market hinges on three pillars: the economy, consumer confidence and mortgage rates. " But Not in the UK ?

"overheated markets in some cities. Regina, Winnipeg and Toronto were cited as high risk," London's different though right ?

http://www.cbc.ca/news/politics/canada-election-2015-debate-housing-1.3234546

"

Housing bubble risk has federal leaders at a loss

Is Canada ill-prepared for a possible housing price crash?"

"Economists, Realtors and academics are at odds over the possible scope of a Canadian housing bubble, and the federal party leaders are offering few fresh ideas on how to cope with a potential crash" And in the UK ?

" the politicians were asked how they would guard against a potential burst in the housing market and if imposing limits on foreign ownership is a possible solution" ....Is Canda and the UK the same country ?

"Hilliard MacBeth, an Edmonton-based investment adviser with Richardson GMP Ltd., disagreed with Harper's rosy perspective and is convinced a "dangerous" housing crash is on the way" Surely not !!!

"and it may be too late to rein in the risk." : No s**t Sherlock !!!

"If anybody directly addresses it, it might be the cleanup," he said. "It's a dangerous bubble, and managing the burst of the bubble, the unwind of the excess, is going to be the challenge." :lol: :lol: :lol: :lol:

http://www.huffingtonpost.ca/2015/11/03/canada-housing-market_n_8461888.html

"

5 Signs Canada's Housing Markets Are Out Of Control"

"Were topping the global housing bubble rankings" Where does London Sit ?

". Mortgage fraud is "thriving."" Not in London though thankfully.....

" Foreign investors are emptying out neighbourhoods " : Not in London though thankfully.....

"Even the CMHC thinks it's gone too far." And the BoE/Osborne is not reigning in BTL....

http://www.bnn.ca/News/2015/11/11/CMHC-chief-paints-bleak-picture-of-risks-to-Canadian-housing.aspx

"CMHC chief paints bleak picture of risks to Canadian housing"

http://www.theglobeandmail.com/globe-investor/global-investors-flock-to-canada-housing-bonds-amid-bubble-concerns/article26348599/

"Global investors flock to Canada housing bonds amid bubble concerns"

"The demand comes amid record household debt and lofty house valuations, which have made the stocks of Canadas largest private mortgage insurer and biggest non-bank lender the two most shorted in the country."

http://wolfstreet.com/2015/09/16/time-bomb-under-canadas-housing-bubble-makes-a-loud-tick/

"The Time Bomb under Canadas Economy: Soaring Household Debt, and Suddenly Delinquencies!"

They've no sub-prime problems...all those oil jobs were "prime" borrowers till this year.

http://ipolitics.ca/2015/10/09/harper-is-playing-politics-with-a-housing-bubble-ready-to-pop/

"Harper is playing politics with a housing bubble ready to pop"

"When youre faced with a raging brush fire, you can try to douse it or leave it alone and hope that the blaze dies out. If youre Stephen Harper, you look for the closest can of gasoline." Might as well substitute "Steven Harper" for no end of UK names.

I could go on.

We all know it's coming...in Canada too.

Why has no one seen this coming.

Hopefully they get a bailout.

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Hopefully they get a bailout.

You can see it coming, can't you.

The bankers inflated a massive debt bubble and there were no consequence ( FOR THEM ).

After they'd stop laughing they probably thought...."Hell, this is great lets do it again....."

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But surely it's because of a shortage of land?

Haha

Its dem imgrants wot did it

or more likely

"Cohodes specifically targeted the massive Ontario-based mortgage lender, Home Capital Group. Two weeks after The Province’s story was published, the company announced it was cutting ties with 45 mortgage brokers because of suspicious loans."Its t

he exact same here, folk on 20k borrowing 10x there salary. Liar loans are back becuase banks are driven by profits and psychopaths.

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Haha

Its dem imgrants wot did it

or more likely

"Cohodes specifically targeted the massive Ontario-based mortgage lender, Home Capital Group. Two weeks after The Province’s story was published, the company announced it was cutting ties with 45 mortgage brokers because of suspicious loans."Its t

he exact same here, folk on 20k borrowing 10x there salary. Liar loans are back becuase banks are driven by profits and psychopaths.

...and the fact that they were bailed out the last time they did it.

It's the railway mania all over again.

The politicians were up to the necks in it and kept it all going for another decade,,,,then the 2nd collapse came.....not all banks reopened.

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You can see it coming, can't you.

The bankers inflated a massive debt bubble and there were no consequence ( FOR THEM ).

After they'd stop laughing they probably thought...."Hell, this is great lets do it again....."

It'll go a LOT deeper than that - all those onlookers thinking these shysters got away with it and basically the are just fiat money scammers, why shouldn't we? Their behaviour will have been replicated thoroughout other parts of the corporate sector, they'll be a lot fo buried bones out there.

The politicians and the central banks have no idea the scale of malinvestment and distorted inventives they have foisted on the economy, and it will be oh so much of surprise when it comes to light.

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Exactly. Nothing to do with easy lending, oh no. Small island, growing population, millions of Polish immigrants - that's what's caused Canadian HPI.

And Australia. They don't make any sense. London does actually make sense but not at these prices. Good security 25 years ago.

If you take a good look at the prices say for Houston Texas you get an indication of how low Canada and Australia should be. Very Low!

The UK is worst offender of all it is disgraceful.

If you can not provide cheap housing. At least give them the land and let them do it for themselves.

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And Australia. They don't make any sense. London does actually make sense but not at these prices. Good security 25 years ago.

If you take a good look at the prices say for Houston Texas you get an indication of how low Canada and Australia should be. Very Low!

The UK is worst offender of all it is disgraceful.

If you can not provide cheap housing. At least give them the land and let them do it for themselves.

Have you been to Australia?

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I actually feel sorry for osburns.

I know they have realized our economy is that of a second world country built mostly on properdee speculation so as a result have to come up with ever more elaborate schemes to keep it ticking over otherwise the rest of the world will find out and we will be up shit creek.

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It's odd that the London mega bubble coincided with Carney arriving from Canada, is he responsible or is it coincidence ?

Now the Canadians are s**ting themselves that this is not sustainable and we have MSM telling us there is no bubble despite warnings from two of the biggest banks in the workd.

Coincidence?

It feels like it was the first key skill on his CV

There was a story when he signed up that he had to get his housing allowance boosted up.

So in essence the governor of the bank of England could not live in London to his specification on his original package.

I wonder if he gets more than £5000 a week housing allowance now since

http://www.telegraph.co.uk/finance/mark-carney/10163681/Bank-of-England-Governor-settles-on-3m-London-home.html

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Coincidence?

It feels like it was the first key skill on his CV

There was a story when he signed up that he had to get his housing allowance boosted up.

So in essence the governor of the bank of England could not live in London to his specification on his original package.

I wonder if he gets more than £5000 a week housing allowance now since

http://www.telegraph.co.uk/finance/mark-carney/10163681/Bank-of-England-Governor-settles-on-3m-London-home.html

It's no coincidence. Carney is an orthodox Keynesian, locked into a mental straitjacket of falling aggregate demand and general equilibrium to which the solution is easy money and fiscal intervention in support of the private sector. The idea that the private sector is itself responsible for the crisis is beyond him. So too the notion of an economy operating far from equilibrium, which the financial hack Paul Krugman has (absurdly) dismissed as 'mysticism'.

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But surely it's because of a shortage of land?

Most people want to live in Toronto or Vancouver. There are no new detached homes being built inside the GTA anymore, only townhouses and condos. That is one of the reasons why I chose Barrie...cheap as chips, and a decent place to live. I could care less if there is a crash, I have a tiny mortgage on a 4 bed house with a pool, short walk to the downtown and lake, and some decent pubs. They are building a new train line to Toronto and that will have a massive impact here at some point in the future. I can wait, in no rush to cash in.

Toronto and Vancouver will definitely see a crash in the condo market, while its not quite like Chinese cities, there is certainly a lot of speculation and capital parking going on. Detached homes is a different story. There will be a Correction, maybe 20-30%but not an outright crash of 40% or more. The Oil patch will fair worse.

Another thing to bare in mind is that Canada has 3 different economic streams. The West and the Atlantic coasts are resource driven, and the lowering in Oil price is really impacting these areas, and also the Loonie. Ontario, and to a lesser extent Quebec, are all about manufacturing, and then there is agriculture. With the US starting to improve, and the Loonie at its lowest for a decade, Canada will become competitive again, and this will help alleviate some of the other negative drivers.

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Most people want to live in Toronto or Vancouver. There are no new detached homes being built inside the GTA anymore, only townhouses and condos. That is one of the reasons why I chose Barrie...cheap as chips, and a decent place to live. I could care less if there is a crash, I have a tiny mortgage on a 4 bed house with a pool, short walk to the downtown and lake, and some decent pubs. They are building a new train line to Toronto and that will have a massive impact here at some point in the future. I can wait, in no rush to cash in.

Toronto and Vancouver will definitely see a crash in the condo market, while its not quite like Chinese cities, there is certainly a lot of speculation and capital parking going on. Detached homes is a different story. There will be a Correction, maybe 20-30%but not an outright crash of 40% or more. The Oil patch will fair worse.

Another thing to bare in mind is that Canada has 3 different economic streams. The West and the Atlantic coasts are resource driven, and the lowering in Oil price is really impacting these areas, and also the Loonie. Ontario, and to a lesser extent Quebec, are all about manufacturing, and then there is agriculture. With the US starting to improve, and the Loonie at its lowest for a decade, Canada will become competitive again, and this will help alleviate some of the other negative drivers.

Surely 'ice-ring' ?

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