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TheCountOfNowhere

Canada's Housing Bubble Will Burst

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12 minutes ago, dougless said:

Has anyone cited a shortage of land as a reason why Canada's house prices are insane?

Good point :lol:

Land is never a problem, houses can be built on stilts above each other, they could be called, flats.

 

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1 hour ago, dougless said:

Has anyone cited a shortage of land as a reason why Canada's house prices are insane?

In Vancouver yes. There's plenty of land there so long as you don't mind living on a vertical rock face! 

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is that photo in the article what Vancouver really looks like...it looks horrendous...more like the third world

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1 hour ago, TheBlueCat said:

In Vancouver yes. There's plenty of land there so long as you don't mind living on a vertical rock face! 

Time to start leveling those mountains I think.

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6 hours ago, Wayward said:

is that photo in the article what Vancouver really looks like...it looks horrendous...more like the third world

You mean the one with the CN Tower in the middle of it? If yes, then that's Toronto. It's not the most beautiful city in the world I'll admit but, in many respects, I've often thought it makes London feel like the 3rd world by comparison (I've lived here since 2009).

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19 minutes ago, longgone said:

did carney ever work there ? just a thought him being canadian an all. 

Just in case you're not joking...he was governor of the Bank of Canada. He lived in Ottawa though, not Toronto or Vancouver. Houses are pretty cheap there.

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Just now, TheBlueCat said:

Just in case you're not joking...he was governor of the Bank of Canada. He lived in Ottawa though, not Toronto or Vancouver. Houses are pretty cheap there.

:lol: i was 

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13 hours ago, TheBlueCat said:

You mean the one with the CN Tower in the middle of it? If yes, then that's Toronto. It's not the most beautiful city in the world I'll admit but, in many respects, I've often thought it makes London feel like the 3rd world by comparison (I've lived here since 2009).

I mean the tightly packed jumble of drab towers...reminds me of Chinese cities (but then perhaps that's the point...)

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Well, this is all starting to look a bit crashey!

https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/brace-yourself-a-perfect-storm-is-brewing-in-the-housing-market/article35579591/

Quote

We’re already seeing a selloff in the Greater Toronto Area, with average prices down 13.6 per cent in just two months.

That could be the same sort of fall followed by a bounce back up that Vancouver saw after the 15% tax for foreign buyers was introduced, but the other factors discussed in the article could mean this is the real thing. 

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On 23/06/2017 at 4:19 AM, Wayward said:

I mean the tightly packed jumble of drab towers...reminds me of Chinese cities (but then perhaps that's the point...)

Close up it's nothing like as packed in as HK or Shanghai although it's certainly denser than it used to be. The Chinese people here mostly don't live downtown, Richmond Hill (or Vancouver) is where they favour.

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In any event the average size of Canadian home is apparently nearly 3 times the size of a UK home which ("innovatively") are trending even smaller.  

It's a surprise more Canadians don't move to the US where on average homes are even larger.

Even Japan which is often looked down in the UK media as having tiny flimsy homes apparently has homes nearly twice as large on average compared to the UK.

Edited by billybong

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3 minutes ago, Saving For a Space Ship said:

 Eisman of ‘The Big Short’ Warns Canada Housing Heading for Slump With CIBC Most Exposed

  https://www.bloomberg.com/news/articles/2017-10-16/eisman-warns-canada-housing-heading-for-slump-cibc-most-exposed

It's not rocket science, Australia, UK, Canada, NZ, China....all heading for massive collapses.

 

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On 22/06/2017 at 12:26 PM, DrBuyToLeech said:

Canada has a terrible housing shortage:

http://m.huffingtonpost.ca/daniel-tencer/housing-shortage-canada-land-use-policies_b_13606744.html

It's always a housing shortage. 

When we went in 2007 they had large bill boards at the side of the main highway as we travelled around, all a long the lines of a large family home picture saying its cheaper in saskatchewan

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13 minutes ago, giggler000 said:

When we went in 2007 they had large bill boards at the side of the main highway as we travelled around, all a long the lines of a large family home picture saying its cheaper in saskatchewan

How do you pronounce that?

 

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