Canadian Housing General

But but.. Prime Minister pot is working for the m-mi-middle class! R-right?

40% of all mortgages come up for refinancing in 2018.

fuck off with yout shitcoins, this is a business thread nerds

How many of us are hoping that crypto goes another 6 months, Canadian housing crashes, and we can take some profits to buy the low?

The Prime Minister doesn't run the BAC.

no, you must go the BIz way, buy high sell low

no joke Bank of Canada released a whitepaper considering the use of a central bank crypto currency in november

please. fuck that Cuban

kek

Conservatives are really butt hurt.

LMAO. I'll close on February 19th then. Paint a wojak on my garage.

B A S E D

Higher interest means reduced saving and consequently reduced investment

That's so pointless.

I just wasn't sure if this was interest on money loaned to the average person, or interest the average person gets when they put money in the bank. I understand the economic implications of each scenario

Savings and interest rates are both going to increase.

Its the overnight rate. Consumer banks borrow from the Bank of Canada at this rate.

Prime rates, which are rates consumers pay also went up.

So don't buy a house in Vancouver right now? Got it.

no you filthy goyi....i mean nice future homeowner! We can offer you a very attractive rate! Plus with housing prices on the rise, you can always refinance if you run a little short!

Not unless you live in china

Anyone want to comment on if this bubble is going to burst or slowly deflate?

>Considering investing in a 3.5M hotel.

>Revenue 600K 2015, 650K 2016, 700k 2017

Full blown recession will obviously hurt, but if rates are held steady for the rest of 2018 this could be a great quick flip.

I locked in my interest rate using my nano ledger so im good.

Flipping property in 2018?

Not waiting until the provincial budget would be insane. A speculation tax could start it off. An empty homes tax salts the wound. Anything around proceeds of crime and money laundering adds on. Add in interest rate increases + mortgage renewals + HELOCs. It could get bad. It would be on the Feds to pump it.

If the budget is soft I expect it to go the other way. Condos climb and push up townhouses which kicks off another round of big gains for detached.

Serious reply now. What this means is that the prices of homes will lower, so when my coins moon and I buy a house in full ill get it cheaper.

We're gonna make it.

How many missed out due to listening to this guy?

I'm not even going to buy a house in Canada anymore. I'm just going to hop the border with my crypto gains and go on welfare in the States.

Make room, Americans.

No.

Houses in vancouver and toronto cost 2+million.

Most people buying houses here now are multi-millionaires from china/oil money middle east and just buy them in cash outright.

this doesnt effect anything

Locked in for 5 years at 2.39. Yea boy

If you read the paper you'd know they actually came to the same conclusion themselves, except for a few key uses... one of them being stability. The coins (named CBDC which they could option to decentralize or not) would be open to the general public, instead of major financial institutions as reserves are today. Now we get the 1.25% interest rate that the big banks get instead of their marked up loans.. cutting out the middleman

>tfw holding 400k in crypto and it's still not enough to buy a decent house in Toronto

Foreign ownership is meme pushed by racists conservatives. That shit peeked in 2014 when the dollar hit .60 against USD. Raising interest rates strengthens the dollar meaning less foreign ownership.

most boomers own their shit at this point

gen x cucks are btfo

buy 2 bedroom condos in highrise walking distance to pharamcies and grocery stores. Those are gonna be worth alot more when boomers end up in wheel chairs and cant get up the front steps of their house anymore.

>Go away Boomer

They still have to sell these houses they own on the open market.

Have you ever been to Vancouver? It isn't a meme. Half of Richmond shops have all text in Chinese.

this is because chinks are stupid and think that living on richmond street equates to living on rich man street. I shit you not.

>Canadians are so leveraged to absolute fuck, they can't handle 1.25% interest in their mortgage.
Just cuck my shit up senpai

You're replying to a chink in case you haven't noticed yet.

Kek, not Chinese and not dumb enough to live in Vancouver.
Dumb enough to live in BC thou

We can just bail everybody out right?

Where's the best place to live in Canada if you don't need a local job? I'm getting sick of fucking shithole Edmonton.

victoria.

Yeah Justin the tax rev from weed will pay it all off we're fine

I'm going to be pissed if the NDP fucks try to bail out all these cucks in the lower mainland at the expense of the rest of BC.

trying to cool the market. people who were approved at say 3.25% will now need to be approved at a higher rate. so if they were shopping for a house and they had a budget of $500k then it will now be lower. they need to be re-approved at the new rate. this will affect first time buyers the most. lots of people will be pushed down a tier in the market and the bottom gets the shit end of the stick

Think longer term. Entire market will shift down. People will only be able to buy what they can afford but everything will be cheaper.

Calgary.

Tfw 125k in cash and cant afford to buy here..Vancouver 1 bdrm apartment is 500k..

Seems a lot of muslims live there? What's that like?

exactly what i'm waiting on. i sold my house in 2014 when it was over valued and beat to shit by my tenants and i haven't bought back in yet. doing better on the sidelines by the looks of things by not buying last year.

The Liberal party is ruining this fucking country right now and fucks like you are the reason why. Trudeau has ZERO business running a country. Have you ever heard him talk? He talks in circles. He never says anything of substance because he is incapable of doing so.

He says he's working for the middle class. First thing he does is reverts Harper's TFSA increase. WHY? WHY WHY WHY? That was one of the only tools to *GUARANTEE* wealth in your retirement, and to move up the economic ladder.

Then they start changing the small business tax laws to FUCK OVER THE MIDDLE CLASS RUNNING SMALL BUSINESSES.

They have the fucking nerve to increase CPP deductions and claim they're doing it to force Canadians to "save more for their retirement", insinuating they'll pay out higher. WRONG. They're raiding the additional money coming into CPP to balance their fucking budget.

FUCK THE LIBERAL PARTY, FUCK JUSTIN TRUDEAU, AND FUCK YOU BRAINLET.

>>
sauce on photo?

Then don't live in shitty Vancouver. There's so many other places to move..PEI, Nova Scotia, part of New Brunswick are ok. Eastern Ontario is decent as is Hamilton. Interior BC is also a good time. Honestly figure out what kind of shit you like to do and then make pros and cons for each of those places. Don't fall for the Vancouver meme like other millennials

why the fuck would u live in those shithole places lol.There are only 3 places to live in Canada. Vancouve, Toronto, and montreal if u like living in buttfuck -25 degreeweather

Montreal lul

Unless the stupid old cunts went to buy more property and overextended themselves. I know countless who have, go I fucking hate boomers

>cuck harperite this upset that the liberals are stabilizing the PC's fuck ups
Hey pal with unemployment at a record low, home ownership up and weed coming soon how are you clowns ever going to win an election ever again?

>being this cucked

enjoy your shitty $2000 500 sqf apartment and never ending traffic. There are lots of good looking women in college towns / small cities with government or tech jobs. You don't have to commute far and there's /out/ stuff to do minutes away.

Why would I tell you?

there isnt actually much traffic at all in toronto and vancouver. also nobody would wanna live in Alberta or Saskatchewan or any other of those shithole provinces with a bunch o f peopletelling me how the liberal party is terribleand harper was the best.also its fucking cold, only white peoplelike tht shit

What are you talking about? Traffic in toronto sucks just like any major city.

t. torontonian

Alberta is far better than Ontario.

t. Albertan who lives in Southern Ontario now

Holy fuck you imbeciles, a few percent hike is fuck all in the grand scheme of people's payments, the just put it on mastercard and visa. All this means is new buyers for homes in Canada who would have qualified for a mortgage, would no longer qualify. Ie less buyers in the market, prices fall. Honestly think an increase of 1.5% on someone's 2000 a month payment is gonna kill them? It's goes up by 30 bucks a month big shit

>he thinks the BoC increase on bank interest rates is a direct increase on mortgage interest rates

Also the liberal party is terrible you twat. Open up your eyes and stop getting fed by what the socialist media gives you. Our country is FUCKED in the next 25 years.

When interest rates go up mortgage rates go up too. The first thing people pay is there home bills. First the cut out movies, then restaurants, the nice clothes, then they eat shit food, then they eat cereal three times a day. Then their aunts and uncles move in. Then they rent a room to some chinese student in the basement and then the key doesnt fit in the lock. It will affect the whole economy. Ever since Justin shook hands with soros we lost.

>Just sold my lower mainland condo for almost $500k.
>don’t get the check until Friday
>was going to put it all in crypto currency in the dip

>$200k house
lol how the fuck? thats closer to a car than an apartment poorfag
i dont like him either. But he isnt running the BoC and the BoC doesn't just do this to fuck you over retard.
I live in Vancouver so it will never truly crash.

>put $500k in crypto.
You retarded just put in $100k and you either moon or you dont. there is no safe middle play in crypto.

Does that mean I can get a cheap house once I make it

This man is wise. Everything he said is absolutely true. They call the Billionaire successful real estate agent a clown but they call the drama teacher a world class politician. At least there is someone on Veeky Forums who I respect today.

Calgary is unironically better than Toronto but both are shit. Basically just Vancouver, Montreal and QC if you are a dirty frog.

if you arent taking out a loan I guess.

Vancouver
If you are over 60

But I hate my shitty job. I need enough to retire.

government created a housing bubble through central bank money creation

raising interest rate could pop the bubble

>fuck sakes, my parents own a 200k house and are struggling to make ends meet. Why cant they only cuck those faggots in lower Canada?
Fuck you.
They should raise interest rates to 50%.
Houses shouldn't be this expensive in the first place.

It's you faggots that are fucking over everyone else.

vancouver is too expensive to live and overrun with chinks

>home ownership up
Liberals are pieces of shit.
How is raising the price of housing going to help anyone except chink investors.
Fuck you and your bubble.

>he didn't lock in his interest rate before the announcement

We almost elected the perfect candidate bros.

We could have had a libertarian Canada.
The boomers and chinks would have been btfo for good and our generation would be able to have a booming economy for once.

But instead we got Jeb Bush.

>too expensive
Thats what happens when it is one of the best places to live in the world
>chinks
You get used to them Canada is pretty good at integration its an eclectic mix and its not like we have too many Muslims. Chinks are atheist.

kek i voted for him. But the stupid runoff election was rigged. He could have really used an econ lessen from Harper or something though. I was a bit worried about that. But fuck it, he could just give an old guard party guy finance.

have fun being surrounded by niggers

If Toronto is so good then why are all the immigrants in Calgary ex-Torontonians?

You obviously don't live in BC/Ontario, or you would see it's anything but a meme.

>BCfag here.
Its a meme.

Vote for Jagmeet Singh leafs

But I hate that even Muslims are on his side. Fuck islam

He literally almost won.
It would have made Canada fucking great, our economy would have been extremely powerful.

He was close friends with Ron Paul too.
Fuck this shit.

RREEEEEEEEEEEEEEEEEE

I met him in Edmonton too at a conference.