Canadian Housing Market

What’s going to happen to the Canadian Housing Market?

Other urls found in this thread:

remax.ca/bc/fort-nelson-real-estate/na-5239-42-street-na-wp_id190882741-lst/
bc.ctvnews.ca/b-c-offers-5-year-interest-free-down-payment-loans-to-first-time-buyers-1.3205016
twitter.com/AnonBabble

when is ICO?

New strest tests are disqualifying 50,000 buys.

Will this be enough to cause prices to dip dramatically? The market has shrugged off prior regulations.

nothing - plan is to sideways existing owners, dicourage foreign buys and decline low income.

I am not familiar with this coin. REEEEEEEE I thought I memorized all of them!!!

*buys shack for $2M because chink master thinks it costs this much*

Before the crypto craze. Threads like this used to have good discussions about the markets and give great insides on overall international house market.

Now everybody just shitcoin this, shitcoin that.

Veeky Forums is now a complete cesspool.

who's she?

it's going to crash then I'll be buying a mcmansion with cryptogains

So a house isn't going to cost 400k anymore? Thank god.

Pajeet pls leave.

Hedge funds will buy most properties and trade them between themselves while converting all available units to rentals. The market shouldn't be able to bear the inflated cost of rent but because people won't have any other options it will keep going up for quite a while. Eventually once people are putting too much money into trading derivatives and other investment vehicles based on speculative fractions of rental income the pyramid will come tumbling down and a handful of the surviving investment companies will consolidate the market at the low and star the cycle anew.

Finally a good thread. Now waiting for the good answers because I am wondering whether to buy now or pray for a crash.
To me it looks like it is not going to stop going up so I am FOMOing.

All the FOMO buyers from last year will

>>realize they are house poor
>> try to rent out their basement
>> get shafted because bad tenants
>> get shafted because bad landlords
>> realize they are not getting 13% value increases
>> list their home 20% over buy price with their waitress friend who is also a "Part-time realtor"
>> pre-sale inspections uncover costly and massive code violations they didn't uncover because they put in an unconditional buy
>> watch DIY reno shows
>> try to open concept
>> one dies from a gas leak
>> one dies following a youtube video about rewiring fuse panel
>> bank gets house
>> sells at market to Chinese buyer
>> shitty tenants still live there because they were never served a proper eviction
>> All rooms rented out to students

Did i miss anything?

Holy shit, I was just about to post that pic. Wasn't there a cuckshed in Vancouver for sale for $1 million Canadian dollars?

you better hope it doesn't crash
since oil went to shit housing bubble is the only thing holding up the canadian economy

Another thing to consider is overnight interest rates. Canada is currently at .75% after declining to raise in Q4 2017. I believe America is at 1.5%. Canada will generally try to keep our overnight rate in-line with America’s. If interest rates diverge then the Canadian dollar drop if they converge the Canadian dollar strengthens. If the bank of Canada’s raises the rate throughout 2018 housing prices will fall as access to credit falls and the Canadian dollar will strengthen reducing foreign investment further decreasing the housing market. It’s a interesting balance, BCs GDP for example is 18% housing market and the BOC will only raise the rate if the economy is strong.

Also see - the UK

If it crashes then the chinks will just buy more

Central Bank is pumping up the price

This is fucking horrible and my generation is getting screwed.

Many people don't know this

Fuck central banks
Abolish them

god damn fuckin chinks buying all the god damned property

at least live in the house you faggots

...

it's the central bank, chinks have little to do with it.

>buy $1million commercial real estate with dad in 2016
>convinced crash is coming
>Sell for 1.3 million in Nov 2017
>moms entire family are fags that live in lowermain land
>all call me stupid and are convinced prices will rise for ever
>Everybody keeps laughing at me as prices rise every month

I need a crash so bad Veeky Forums
I feel like that autist in The Big Short

thanks central banking

What does it have to do with central banks? We just have a lot of rich Chinese immigrants that love to buy real estate.

There was supposed to be a crash in 2014. Then the price of oil took a dive making the dollar drop in value. This attracted foreign investment fueling the bubble. Because the bubble got a second wind everyone is convinced “this time it’s different” “people have been saying it’s going to crash since 2013 lol”. Chinese people have nothing to do with this now that the dollar is recovering, its all dumbass Canadians now.

pls explain to a mong how rich Chinese buying up property and leaving it vacant or renting it our for absurd prices doesn't have an effect

Maybe because they aren’t buying it anymore. Read my post, they where buying in 2014-2015 when the dollar was at .65. They where essentially buying in at a 40% discount. Both Toronto and Vancouver have a 15% foreign investment tax and the dollar has recovered now. Chinese buying property is a meme at this point.

thanks

anecdotally, I see more Chinese than ever in Toronto and the GTA

Shartlet Brappini

actually you know what I just realized

they could be koreans or samurais for all I know

and what did you learn?

lrn2squat
that's how i got my house

What does this mean??
I want a house too

I can't help but laugh at legitimate posts like this on Veeky Forums

Year(s) from now you'll look back on how retarded you were to miss out on easily gaining 1000+% wealth.

Stay poor, normie.

Really appreciate this post guys. I bought a 2 bedroom condo in Calgary in 2014. I was planning on renting it out, but I'm wondering if I'm going to have to wait to long for the economy to come back to what it was( fuck me).
If I wait to long the building will go to shit. Really feeling like selling at a loss and putting the rest of my money into something else.

you literally take over a house that isn't being lived in.
It's free real estate.

I think it's Nadia Ali. Looks similar.

Any other Canadians sick of how many god damn Filipinos and Muslims we have in this country? Jesus Christ.

I don't mind them. Better than aboriginals.

Nah. The Filipinos run all the fast food, especially Tim Hortons and the pajeets keep local businesses running by spending their cash on retarded shit.

The negros on the other hand just buy guns to kill each other usually killing bystanders in the process so fuck them.

Go to montreal if you want to avoid that in the short term while maintaining metropolitan vibe

But I mean there are many minorities here

>tfw not cashing out in canada for that reason

I don't know what the fuck I'd do without my crypto gains lmao, our generation is fucked

This but for real yo

I'm not even a fucking leaf and I feel the same way here in the US.

It's because of low interest rates - as long as they continue to be low, house prices will remain high. Rents however haven't changed much (rents always track inflation) and the interest payment on your mortgage likewise is unchanged. But getting the downpayment is now much harder.

Ok quick question since this is now a Canadian thread:
How to cash out? Coinbase does not like us for some reason.

excellent taste it women

>Canadian housing market
Why are people here so fucking retarded? this isnt some euro shit country. The Vancouver housing market is VERRRY different than the Regina Market which is verrry different than the GTA market. Anyway OP buy in Surrey and watch it go up up and away.

Quadriga.

newfoundland here

outside of St John's its literally impossible to sell a house

shithole

Hahahahhahahahahhahahaha
Another deluded Mainlander
Can’t wait for the next eclection so crusty Clark can put the tolds back on your shitty bridges.

>what is fiat?
>what is inflation?

you fell for the /pol/ meme

are you okay? Also i voted BC Liberal and Clark stepped down retard. Surrey is just an area getting hardcore gentrified, a huge federal development fund and is close enough to Vancouver to make bank off it's costs.

>give great insides
I too, am a connoisseur of great insides.

Is a place like prince edward or kelowna a good place to live after crypto gains? I'd work part-time and spend my free time lifting weights and being in nature.

The employment numbers, I think, are too good right now for there to be a serious down turn--think about all those job hopping millennials finally having the opportunity to get into a good situation if they move to x instead of y etc. My guess is that when the job numbers stagnate, the interests rates are raised a few more points, and then contagion from reckless US policy causes a catastrophic crash, that's when we are going to be a world of hurt. Maybe something we never recover from for years. When that actually happens is a hard call. I think we just entered the early days of euphoria, or irrational exuberance. My guess is it will last for another 9-20 months. Then absolutely nothing will have value, not even money. _Maybe_ gold will have value, but I actually doubt it. If you can justify your value to all the 9 foot demons raping your grandmother, houses will probably quite affordable.

get used to it, the liberals like to import their voter base

who is this?

On Vancouver island is where it's comfy

comfy place to die.
If you are under 60 just go Vancouver. Or Montreal if you can stand all the frogs.

move to the nice parts of new brunswick. its stupid cheap

Not gonna happen. And even if it does it's fine to me. Just be prepared.

Oh missed the nature part. Scratch off Montreal. Kelowna has no nice nature shit and Prince Edward has nothing Move to the North Van/Deep Cove area. tonnes of nature shit and hikes. Beautiful waterfront, and detached enough from the city while still being a quick drive away. (because most people go from east to west into Van and dont cross iron workers)

I hate french, I need a comfy place in nature that's an hour or so away from decent employment, preferably a bank. I love mountains and hunting, none of which I can do here. They're filling this place up with concrete and I hate it.

I'll look into it, thanks for the tips! It's a big country after all so it's easy to get lost.

see
bare in mind it's expensive as fuck. Also near Grouse and Cyprus.

I live in Kelowna
It’s a alright place especially if you have money
I don’t like living here as all my friends live back home
Pay is also generally shit for how expensive it is

Umm wouldn’t the high employment numbers encourage a interest rate increase dropping house values?

See

I love me some mountains, but are there cheaper places to live? Where do "normal" people go? Here we'd pay at least 450K CAD for a nice house. I'd like to stay in the sub 500k CAD range as I'm not eager on spending everything on just a house.

There aren’t any muslims in Canada, just Punjabis

Fort Nelson is where people are desperate to sell
50k for a house. Only problem is that you will die of boredom or cold.

remax.ca/bc/fort-nelson-real-estate/na-5239-42-street-na-wp_id190882741-lst/

I'm moving back to Cape Breton when I have enough money, most beautiful place I've ever been. The winters are mild, its 95% white and property is cheap as fuck. Just stay away from Sydney and the surrounding areas. Oh and don't tell the chinks

Whitehorse fag reporting in, AMA.
We do drive dogsleds to work and live in Igloos.

Skied at Mt Sima?

some cheap mountain towns in bc, got to be ok with declining cities though

trail/rossland and kimberley have houses for under 200k
a place like sparwood is fine economically, ok houses under 400k

It's alright, they got shitty hours but do groom nice. Used to do Thursdays but nomo.

I'll tell you what's going to happen. We are absolutely FUCKED, especially in Ontario, where I live.

Our lesbian witch Premiere has vote mongered her way into another campaign run at the cost of our provincial economy. It could take us 20 years to recover.

Please add to the list of things she has fucked up...
- Gas plant deal
- Hydro One
- Minimum wage/war on small business

I feel like I'm taking crazy pills - people are actually voting for this autistic moron.

The housing market is all we have left and constant regulation is going to stifle potential first time home owners.

Out of my circle of friends (all less than 30 years old) only a few own homes. Everyone else rents - and its not due to financial mismanagement or lack of income. Most of us have good paying jobs and are educated.

Something is truly wrong when home ownership will never be an option to the educated, well paid citizens of Ontario. In order to bring the prices back to acceptable levels, a crash would be necessary, and the banks won't let that happen...

FUCK KATHLEEN WYNNE

Kootneys is where it’s at. Just don’t try to find a wife there. Dirty sloops lol

Frequent the dirty? Absolute paradise of place, great beer, great food and the servers are all hot in a kind of alt-punk way. Overpriced as fuck, but where else you gonna go in that hell hole of a territory

Regulation isn’t hurting first time buyers it’s helping them.

This.

Imagine the state of absolute JUST when you bought a plywood monster last April or May for like 700K or a million, and every cent of your income goes towards servicing debt.

Canadians are as fucking KEKed as they come.

Garth Turner is a retard BTW.

China will own 85% of Canadian property. Already happened in Vancouver. Currently happening in Toronto

Yeah, there's practically no niggers outside their containment zones and the ones outside are White-bred suburbanites.

The Mudslimes, Street Shitters and Failpenises are an absolute pestilence.

If you and your friends are willing to move there are serious opportunities in Windsor. I manage a fast food restaurant and bought a house on the water two years ago by myself. I estimate I made 50k a year on the house more than the 43k I make running the restaurant. Lol.

>Be Ontario Liberals
>Destroy industry
>Pay for everything with debt that doesn't even have a projected source of revenue
>Create a privileged class of government workers who contribute not a single net dollar to the economy
>Rinse, repeat
>After several decades, this caste of government workers with gold-plated pension funds and cemented job security are now 40% of the voting public
>They continue to vote Liberal due to loyalty for their jobs

What happens when the private sector becomes so small as to no longer be capable of paying the taxes to support the public caste?

I loved Windsor - I have friends who live there, I frequent Windsor probably 6 times a year.

I would move there in a heartbeat if I wasn't tied down to a career here.

Unfortunately its not easy to up and move, family, careers, commitments... they get in the way.

depends how you look at it. the tightening mortgage rules definitely affect first home buyers more then anybody else, that and the rising rates. in theory the prices should come down to offset the higher rates and lower borrowing limit. this is true for Toronto so far but not for Vancouver. my opinion is that regulation does indeed hurt first home buyers, but its essentially the government keeping some people out of the market that would otherwise be taking on too much risk.

The liberal lie has gone on for far too long in Ontario and the impact it will have on our economy will last for quite a while.

They are literally killing small business for a shot at re-election. 90,000 jobs will not even get created because of all the shit that happened with the new minimum wage bill.

And Kathleen Wynne has the audacity to insult a small business owner and then proceed to call him a bully? The irony is just too fucking much.

This.

The regulation is at the appropriate level after the most recent tightening of the rules. Another round of this shit is completely unnecessary.

Any of you guys manage to make use of the First time home buyer interest free loan? I'm hoping to use it after the crash.

Great points. IMO however this next round of regulation is needed. At this point the market is way to expensive for any actual first time home owner to enter. Excluding Vancouver places like Kelowna still have a median house price of $600,000+.

what's the point? the interest rate on mortgages are so fucking low that if your RRSP's are in good stocks, the market is on fire so far, you'll make more money then you'll be saving.

only a few segments of the Canadian market need to be cooled. for this case, the market should resolve itself by increasing supply. using a sledgehammer to swat a fly is retarded.

(You)
what's the point? the interest rate on mortgages are so fucking low that if your RRSP's are in good stocks, the market is on fire so far, you'll make more money then you'll be saving.

Because it's a interest free loan from the government. There is no downside that I see from taking it. Take the governments 40k @ 0% instead of the banks 3% and invest your 40k in the market at 7%.

(You)

only a few segments of the Canadian market need to be cooled. for this case, the market should resolve itself by increasing supply. using a sledgehammer to swat a fly is retarded.

I was reading somewhere there are hundreds of condo projects approved by the city in Toronto but developers aren't building because they know a crash is coming. So it doesn't seem like the supply side will solve itself anytime soon. Either way regardless of regulation we will have to raise rates to say inline with America.

yeah but you already have a RRSP account, you can simply invest in stocks directly instead of taking it out under the HBP and then investing it in stocks. it's not a loan from the bank, HBP simply means you can take 25k out of your RRSP tax free to put into a house.

toronto is a different market, developers are taking a wait and see approach because its prices are dropping. in other areas like vancouver, we can't build enough. why apply regulation and treat both markets equally when they are obviously diverging?

Delicious tater tots. I'm too cheap to go out anywhere, let alone here in YXY. Interupts muh gains too much. Some foxy broads working there though, fo sho.

>waitress friend who is also a "Part-time realtor"

god isn't this the fucking truth

> (You)
>yeah but you already have a RRSP account, you can simply invest in stocks directly instead of taking it out under the HBP and then investing it in stocks. it's not a loan from the bank, HBP simply means you can take 25k out of your RRSP tax free to put into a house.

My bad I think we are talking about different programs.

bc.ctvnews.ca/b-c-offers-5-year-interest-free-down-payment-loans-to-first-time-buyers-1.3205016

>toronto is a different market, developers are taking a wait and see approach because its prices are dropping. in other areas like vancouver, we can't build enough. why apply regulation and treat both markets equally when they are obviously diverging?

Fair enough, I guess I just look upon the regulation favorably because I sold a couple properties in November 2017 betting in a price decline.