Is Canada in a housing bubble?

Is Canada in a housing bubble?

>over the next 30 years, today’s children will be facing a price tag for a single-family home of $11.5 million in Toronto and $45 million in Vancouver

canadianrealestatemagazine.ca/market-update/canadian-dream-is-over-for-nextgen-says-fortress-exec-217822.aspx

Those cardboard boxes ain't gonna survive WW3 in the 30s once resource depletion really rears its head.

Go to greaterfool.ca and get some facts

no!

what kind of retards come up with this shit. houses are worth whatever someone is willing to pay. no one is paying 45 million for a single family home my god

Simple math.

>Writing for the Huffington Post, he calculates that if the pace of price growth continues over the next 30 years, today’s children will be facing a price tag for a single-family home of $11.5 million in Toronto and $45 million in Vancouver!

I think we'll see a federal bailout of cmhc and a 50c loonie before a real housing crash. That's the real reason the govt is letting this shit get out of hand--so they can kill everyone's buying power because of the idiocy of our housing market

memecoins

it is a very slow bubble, something I'm seeing more and more of nowadays

20 years ago, people would've said "no one is paying 1 million for a single family home"

Today, a small family home where i live is 1.2m

Exactly. Real estate can ONLY go up

Nope. Employment is getting transitioned away from traditional offices. I can now work from home and no longer need to worry about finding a good location near downtown.

What's happening in Canada cannot be sustained. One big policy shift will kill off our speculators for good this time.

I think a house in T.O will go up since it's land. But it really is stupid. A house in Windsor which is 100k the same house in Toronto would be like 1.5M. Oh and Toronto has a HIGHER unemployment than Windsor.

Get ready to pay 12,000,000 for a house fgt
Buy in now or forever miss out

I'm an American.
How do I buy Canadian real estate after it crashes?

You are fucking retarded

>Today, a small family home where i live is 1.2m

How is that possible? The average family can never afford 1.2m. Do all families live under a bridge over there?

This just baffles me

Average detached home in Vancouver is 1.8M,
1.2M is a bargain living in Toronto

Cucknadia allowed rich Chinese people to buy all their land and real estate in desirable areas making prices skyrocket. Now Vancouver is for rich Chinese only and poor white people paying $1800 a month for a poverty 1 bedroom apartment

absolutely. quite big bubbles all over

As a whole, I don't believe the Canadian housing market is in a bubble, the problem is isolated in those two cities. Obviously Vancouver and Toronto are in a bubble powered by emerging markets. I don't think things will get the out of hand. Corrections will take place. Look what just happened to Calgary, after oil feel from 2012 highs to 2016 lows. BC just imposed a tax on foreign home buying that is slowing making a bit of a correction. Hopefully Toronto clams down as well. Right now I would agree with Kevin Leary in saying that it's better to rent then buy in these two place for any young professional looking to own their first home. Lucky in Canada we have better regulations and laws that will prevent anything like what happened in US housing market... Hopefully

Im about to tell you why this is actually true so listen up since nobody has brought it up.

The rich Chinese are fleeing china and buying up relestate in these cities. They are tearing down old homes and making new million dollar mansions. Don't believe me? Look up the show rich daughters of vancouver. Imagine your home town a beautiful ocean side city just suddenly being overridden with rich foreigners who drag race their lamorginis through your school zones and over crowd your night bars just throwing money at your local girls. The Chinese are driving Canadians out of their homes because of this housing bubble.

The real important question here though is how do we profit from this bubble?

Become a real estate agent. Make 3% comm. off a sale. Houses take < 1 week to sell

this, fucking chinks

>Corrections will take place.
how?

there's a difference between a drop in oil price due to increased supply from the middle east, and housing which is limited by physical space

when was the last housing correction, other than the 2008 financial crisis?

Boomer die off? The most likely scenario though is a another global economic crash, so many foreclosures the market gets flooded with homes people can't afford. When that happened in the US they - the banks or creditors - stopped releasing so many foreclosed homes unto the market to stem the devaluation though. With so many homes as investments now is another problem, if owners can't get enough rent and start losing money and start dumping there will be more devaluation. Time will tell.