Canada Housing/Debt: Trust me, I'm a landlord.

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

Baronjutter: Dec 31, 2007; "Tiny Trains"

Cultural Imperial posted:

Baronjutter, do you architecture fetishists ever give any consideration to how lovely your favourite buildings are? For all the loving platitudes paid to frank Lloyd Wright by people spending too much time reading wallpaper , most of his famous houses were miserable shitholes to live in. Have you seen what a terrible mess Norman loving Foster's apt building is?

Christ stop giving these adsholes do much positive enforcement for their retarded ideas

You're just jealous you don't live in a contemporary architectural marvel designed by an artistic genius like HARVARD educated James Cheng, carrying the torch of world class Canadian architecture from Erickson. I love James Cheng and "Vancouversim" with 100% sincerity.

PS
http://oldurbanist.blogspot.ca/2011/09/skyscrapers-cause-and-effect.html This is a pretty good little article on why vancouverism and skyscrapers surrounded by NIMBY protected single family neighbourhoods is a poo poo show.

Also from the lovely construction thread.
http://www.cbc.ca/news/canada/british-columbia/condo-parking-dispute-b-c-couple-upset-over-court-of-appeal-ruling-1.2934642
Even after reading the article I can't quite tell what the gently caress is going on here. Why why there 170k in legal fees related to assigned parking?! What the gently caress is wrong with Vancouver condo owners?

Baronjutter fucked around with this message at 23:51 on Feb 1, 2015

# ? Feb 1, 2015 23:40

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# ? May 9, 2024 22:26

Running With Spoons: Oct 26, 2005; Only the spoon knows what is stirring in the pot

Baronjutter posted:

Also from the lovely construction thread.
http://www.cbc.ca/news/canada/british-columbia/condo-parking-dispute-b-c-couple-upset-over-court-of-appeal-ruling-1.2934642
Even after reading the article I can't quite tell what the gently caress is going on here. Why why there 170k in legal fees related to assigned parking?! What the gently caress is wrong with Vancouver condo owners?

Over the last 9 years, they went to court 53 times in front of 32 different judges.

# ? Feb 2, 2015 01:05

FrozenVent: May 1, 2009; The Boeing 737-200QC is the undisputed workhorse of the skies.

Just saw a commercial where Don Cherry was trying to sell me a mortgage :canada:

# ? Feb 2, 2015 01:07

namaste friends: Sep 18, 2004; by Smythe

FrozenVent posted:

Just saw a commercial where Don Cherry was trying to sell me a mortgage

Of all the people who haven't gotten cancer.

# ? Feb 2, 2015 01:09

Arabian Jesus: Feb 15, 2008; We've got the American Jesus
Bolstering national faith

We've got the American Jesus
Overwhelming millions every day

FrozenVent posted:

Just saw a commercial where Don Cherry was trying to sell me a mortgage

He's the spokesman for Dominion Lending Centre https://www.youtube.com/watch?v=jSR1zUHuwMk

# ? Feb 2, 2015 01:14

etalian: Mar 20, 2006

Baronjutter posted:

Also from the lovely construction thread.
http://www.cbc.ca/news/canada/british-columbia/condo-parking-dispute-b-c-couple-upset-over-court-of-appeal-ruling-1.2934642
Even after reading the article I can't quite tell what the gently caress is going on here. Why why there 170k in legal fees related to assigned parking?! What the gently caress is wrong with Vancouver condo owners?

Asian couple got angry over being forced to use their assigned parking spot and were constantly using the visitor parking spots for their extra cars.

The strata won the case again and again in the appeals process.

# ? Feb 2, 2015 01:40

namaste friends: Sep 18, 2004; by Smythe

http://www.theglobeandmail.com/report-on-business/albertas-real-estate-woes-threaten-the-rest-of-the-country/article22739292/

quote:

Alberta�s real estate woes threaten the rest of the country
BARRIE MCKENNA

The �soft landing� that Bank of Canada Governor Stephen Poloz still predicts for the housing market conjures up thoughts of powdery snow and fluffy pillows.

No bumps. No bruises.

But the threat of something more painful is growing.

Alberta�s real estate market appears to be in the early stages of a correction as the falling price of crude ripples through the province�s economy. Many homeowners are rushing to sell while they can, buyers are increasingly scarce, and prices are faltering.

The worry is that Alberta�s problem will infect the rest of the country as the weakened economy destabilizes a real estate market that is overvalued by as much as 30 per cent.

Mr. Poloz has acknowledged that stretched household finances are a big reason he cut the bank�s key lending rate last month. Economic modelling by the Bank of Canada indicated that, without lower rates, the falling price of crude would hit households hard, pushing the closely watched debt-to-disposable income ratio up four percentage points to a new high of nearly 167 per cent.

It may be hard for Canadians to imagine what a housing correction looks like, let alone a crash. House values have been on a steady upward trajectory in most of the country since the mid-1990s, swelling the wealth and borrowing power of Canadians.

Crashes are ugly. They are not soft.

On one block of palm-tree-lined Ramona Street in Miramar, Fla., an outer suburb of Miami, nine out of 37 homes were in some stage of foreclosure in early 2008. Boarded-up houses and for-sale signs were everywhere in this neighbourhood of 1960-vintage bungalows.

When the dust settled, prices across the United States had fallen more than 30 per cent.

A U.S.-style crash here is unlikely. The U.S. real estate market fell hard and fast because communities like Miramar became all too common � places where home buyers quickly found themselves owing more on their mortgages than their homes were worth. As prices tumbled, more than 30 per cent of U.S. homeowners with a mortgage would eventually wind up underwater � a problem fuelled by excessive leverage, tax breaks on mortgage interest and lax lending standards. And because bankruptcy laws in many U.S. states prevented banks from seizing homeowners� other assets, many people simply walked away from their mortgages and their properties, sticking lenders with millions of foreclosed properties.

The Canadian market is different in a number of important ways. Very few Canadians are at risk of going underwater on their mortgages because they generally have more of their own money invested. On average, Canadians have 74 per cent equity in their homes, and for those with mortgages, it�s 49 per cent, according to a November, 2014, report by the Canadian Association of Accredited Mortgage Professionals. Three per cent of homeowners have less than 10 per cent equity, and 1 per cent are underwater.

Those ratios, of course, are dependent on prevailing prices, which are almost certainly inflated. But Canadians are clearly more insulated from a market downturn. That is not to say a serious correction isn�t possible.

The main risk in Canada is not a sudden decline in house prices. It is household finances. Falling incomes or higher interest rates would put a significant share of homeowners in distress. In some cities, a retreat of foreign investors in Canadian real estate could also take some of the froth out of the market.

Lower borrowing rates in the short-term may just put off the inevitable, perpetuating an unsustainable mix of less saving and more borrowing, argued Merrill Lynch economist Emanuella Enenajor. She worries the Bank of Canada will cut rates again in March, setting up the economy for �slower growth once the adrenalin shot fades.�

The housing market is headed for a �narrow� regional shock � an 8-per-cent annual price drop in Alberta, but higher prices in Ontario and Quebec, she said.

In the end, the housing correction in Canada could look more like a bumper car ride than a crash. With incomes stagnant, it could take years for homeowners to work off their debts, and for buyers to afford homes at today�s inflated prices.

The landing may be soft, but far from comfortable.

How is having more equity in your house a good thing? Losing more of your own money is good?

# ? Feb 2, 2015 01:50

etalian: Mar 20, 2006

I guess Canadians are desperate to believe they will get a slow price adjustment over time instead of a bubble pop.

# ? Feb 2, 2015 02:02

namaste friends: Sep 18, 2004; by Smythe

https://twitter.com/hmacbe/status/562060271137480704

# ? Feb 2, 2015 02:34

etalian: Mar 20, 2006

Cultural Imperial posted:

https://twitter.com/hmacbe/status/562060271137480704

People laugh at bears like Shiller before the US bubble too.

How could our amazing credit bubble somehow collapse, it can only go up forever

# ? Feb 2, 2015 02:36

Furnaceface: Oct 21, 2004

Cultural Imperial posted:

https://twitter.com/hmacbe/status/562060271137480704

In some sick, perverted way I want all these housing market shills to become true believers of their own bullshit and drink the kool aid by buying multiple properties. They can captain the ship as it goes down.

# ? Feb 2, 2015 02:47

Jan: Feb 27, 2008; The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.

Cultural Imperial posted:

https://twitter.com/hmacbe/status/562060271137480704

He wrote "think" when he meant to say "realise". Common typo.

# ? Feb 2, 2015 02:50

namaste friends: Sep 18, 2004; by Smythe

Furnaceface posted:

In some sick, perverted way I want all these housing market shills to become true believers of their own bullshit and drink the kool aid by buying multiple properties. They can captain the ship as it goes down.

quote:

Well, today I got a government cheque
Am I gonna get drunk? Oh yeah, you bet!
Gonna paint the town red till my money's all spent
then blame it on the government
I quit my job. Why? Cuz it stunk
but I still get a cheque twice a month
I sit around on my rear end and I get paid by the working class

# ? Feb 2, 2015 02:51

Furnaceface: Oct 21, 2004

Youre a pretty OK dude CI. :hfive:

# ? Feb 2, 2015 03:07

Sovy Kurosei: Oct 9, 2012

Cultural Imperial posted:

https://twitter.com/hmacbe/status/562060271137480704

The place I own already lost tens of thousands of dollar in value as far as the City of Edmonton is concerned. I got that update in the beginning of January so I imagine it will get much worse as this year goes on.

# ? Feb 2, 2015 04:20

etalian: Mar 20, 2006

Sovy Kurosei posted:

The place I own already lost tens of thousands of dollar in value as far as the City of Edmonton is concerned. I got that update in the beginning of January so I imagine it will get much worse as this year goes on.

A bubble despite the name isn't a overnight sort of thing.

It's more a longer term statistical trend, the US bubble took 3 years to deflate from the peak craziness going from 2006-2009.

The Japanese bubble has been going on everything the 1990s crash.

# ? Feb 2, 2015 04:25

Kalenn Istarion: Nov 2, 2012; Maybe Senpai will finally notice me now that I've dropped :fivebux: on this snazzy av

Cultural Imperial posted:

Of all the people who haven't gotten cancer.

Wishing cancer on someone is real loving lovely, regardless of what you think of them otherwise.

# ? Feb 2, 2015 06:20

etalian: Mar 20, 2006

the CMHC website will be pretty handy in tracking the bubble progress:
https://www03.cmhc-schl.gc.ca/hmiportal/en/#Profile/1/1/Canada

# ? Feb 2, 2015 06:39

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Sovy Kurosei posted:

The place I own already lost tens of thousands of dollar in value as far as the City of Edmonton is concerned. I got that update in the beginning of January so I imagine it will get much worse as this year goes on.

Well, according to our Lord and Saviour Nenshi (and his ~~angels~~ bureaucrats), mine has gone up in value (at least as far as my tax is concerned)! Am I not blessed?

Kalenn Istarion posted:

Wishing cancer on someone is real loving lovely, regardless of what you think of them otherwise.

Don Cherry is the manifestation of the Canadian id, and it will be a very sad day when he dies.

Also: FREE CULTURAL IMPERIAL He may be an rear end, but he's the rear end we deserve.

# ? Feb 2, 2015 07:06

Rime: Nov 2, 2011; by Games Forum

un-canadian posting from beyond the grave!

Affordable housing in Vancouver within reach: Michael Geller

tl:dr: Idiocy.

# ? Feb 2, 2015 18:37

Lexicon: Jul 29, 2003; I had a beer with Stephen Harper once and now I like him.

Rime posted:

tl:dr: Idiocy.

Uhhh, the vast majority of those suggestions are good ones.

# ? Feb 2, 2015 18:41

peter banana: Sep 2, 2008; Feminism is a socialist, anti-family, political movement that encourages women to leave their husbands, kill their children, practice witchcraft, destroy capitalism and become lesbians.

get a home inspection and watch out for neighbours: adventures in Canadian housing (now with optional suicide)

http://news.nationalpost.com/2015/01/30/home-sweet-homewreck-this-is-the-worst-reno-story-you-will-ever-hear/

# ? Feb 2, 2015 18:43

HookShot: Dec 26, 2005

peter banana posted:

get a home inspection and watch out for neighbours: adventures in Canadian housing (now with optional suicide)

http://news.nationalpost.com/2015/01/30/home-sweet-homewreck-this-is-the-worst-reno-story-you-will-ever-hear/

Yeah, that was posted a couple days ago, and it's insane.

I don't understand how an entire half a duplex can be demolished, just leaving the other half hanging there open to the elements and everything :psyduck:

I know this thread likes to poo poo on homeowners, but I actually hope she wins the lawsuit and gets everything she asked for, because holy poo poo.

# ? Feb 2, 2015 18:51

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

HookShot posted:

Yeah, that was posted a couple days ago, and it's insane.

I don't understand how an entire half a duplex can be demolished, just leaving the other half hanging there open to the elements and everything

I know this thread likes to poo poo on homeowners, but I actually hope she wins the lawsuit and gets everything she asked for, because holy poo poo.

A lot of things are possible if you don't get a permit and then ignore the city telling you to stop what you are doing.

Unfortunately even if they win, I doubt they will collect and it won't fix their marriage or the two years of their life.

# ? Feb 2, 2015 19:05

Lead out in cuffs: Sep 18, 2012; "That's right. We've evolved."

"I can see that. Cool mutations."

Baronjutter posted:

PS
http://oldurbanist.blogspot.ca/2011/09/skyscrapers-cause-and-effect.html This is a pretty good little article on why vancouverism and skyscrapers surrounded by NIMBY protected single family neighbourhoods is a poo poo show.

I'm not really sure what this guy's getting at, but he does seem to have exaggerated several of his numbers.

In his first map, he shows Vancouver's downtown core surrounded by the whole metro (and neglects to mention the surrounding dense regions like South False Creek, South Granville, South Cambie). In fact, the city considers those to be extensions of the downtown core, so his figure of 22% of regional jobs being downtown almost certainly includes an area about 2-4 times larger than what he's drawn on the map.

And in the second map he shows Parisian-core style density surrounded by farmland. Except, if the population of metro Vancouver (about 2 million) were compressed to Parisian downtown density, it would still take up the whole of the area of the city of Vancouver (which is about the same geographical size as the city of Paris). His map only works if you take the population of the city of Vancouver and ignore the other 3/4 of the regional population.

For that matter, when you take the population density of metro Paris it's about 708/km2, while metro Vancouver is about 596/km2. When you get out into the parts of the city bordering farmland the two don't look all that different.

The city of Paris is certainly denser than the city of Vancouver (about 3.5 times the people in the same area). But the city of Paris is basically one giant downtown. I reckon if you took the part of Vancouver that's more equivalent to the city of Paris -- say everything west of Arbutus, east of Commercial and north of 16th (a region with very few single-family dwellings), you'd get at most a two-fold difference in density.

I mean, I don't disagree about Vancouver's (both city and metro) single-family housing sprawl being problematic. I just don't think it's as bad as that guy's making it out to be. I also really don't see what it has to do with skyscrapers, which in Vancouver are mostly surrounded by areas of low-level apartment buildings anyway.

# ? Feb 2, 2015 19:11

HookShot: Dec 26, 2005

ocrumsprug posted:

A lot of things are possible if you don't get a permit and then ignore the city telling you to stop what you are doing.

Unfortunately even if they win, I doubt they will collect and it won't fix their marriage or the two years of their life.

I don't think you read the whole thing... he ended up killing himself over it.

So yeah, I agree, I doubt she'll be able to collect even if she wins, but that's some criminal poo poo right there.

# ? Feb 2, 2015 19:15

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

HookShot posted:

I don't think you read the whole thing... he ended up killing himself over it.

So yeah, I agree, I doubt she'll be able to collect even if she wins, but that's some criminal poo poo right there.

It got too depressing to read even before I got to that part. :smith:

# ? Feb 2, 2015 19:21

Dreylad: Jun 19, 2001

The guy who was the head of that contracting company (Ironwood) sounds like a real shining beacon of humanity.

# ? Feb 2, 2015 19:52

Baronjutter: Dec 31, 2007; "Tiny Trains"

People think the legal system will protect them, but it really won't. For the most part, lawsuits are a luxury for the rich and the whole system is designed to have a ridiculously high cost of entry and drag on so long that only people with a huge war-chest can win the war of attrition.

In a just world the dudes demoing the house without a permit would be in jail and their insurance (if they had any) forced to pay for their hotel every day their house is not safe to live in.

# ? Feb 2, 2015 19:55

LemonDrizzle: Mar 28, 2012; neoliberal shithead

Rime posted:

un-canadian posting from beyond the grave!

Affordable housing in Vancouver within reach: Michael Geller

tl:dr: Idiocy.

The shared equity thing is pretty dumb - we have that here in Britain and it's basically what you'd get if you carefully designed a financial product to integrate the worst aspects of renting with the worst aspects of being a mortgaged owner-occupier. Actually, the only two vaguely good suggestions on the list are the ones about building more stacked townhouses and spreading out the density of housing, which should really be combined into a single "build a lot more medium density mid-rise housing" item.

LemonDrizzle fucked around with this message at 20:03 on Feb 2, 2015

# ? Feb 2, 2015 20:00

Professor Shark: May 22, 2012

ocrumsprug posted:

It got too depressing to read even before I got to that part.

They separate for a few months, but at the very end things seem to be going well for them.

They go on a date and have a kiss, then he goes to a park and kills himself.

It's like Battlestar Galactica :suicide:

# ? Feb 2, 2015 22:42

Kalenn Istarion: Nov 2, 2012; Maybe Senpai will finally notice me now that I've dropped :fivebux: on this snazzy av

HookShot posted:

Yeah, that was posted a couple days ago, and it's insane.

I don't understand how an entire half a duplex can be demolished, just leaving the other half hanging there open to the elements and everything

I know this thread likes to poo poo on homeowners, but I actually hope she wins the lawsuit and gets everything she asked for, because holy poo poo.

Yeah everyone involved there's a loving terrible human being. Building alike that are constructed assuming mutual support or are actually the same building with only legal separation. I hope she wins.

# ? Feb 2, 2015 22:50

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

Baronjutter posted:

People think the legal system will protect them, but it really won't. For the most part, lawsuits are a luxury for the rich and the whole system is designed to have a ridiculously high cost of entry and drag on so long that only people with a huge war-chest can win the war of attrition.

Even more so When it comes to criminal court. Something like 90% of all criminal cases never see a day of actual trial because most people charged with a crime can't afford to spend three years and tens of thousands of dollars fighting a system that's quite willing to lay charges and 'see what sticks'.

Our justice system is a loving joke.

# ? Feb 2, 2015 23:50

Ceciltron: Jan 11, 2007; Text BEEP to 43527 for the dancing robot!; Pillbug

EvilJoven posted:

Even more so When it comes to criminal court. Something like 90% of all criminal cases never see a day of actual trial because most people charged with a crime can't afford to spend three years and tens of thousands of dollars fighting a system that's quite willing to lay charges and 'see what sticks'.

Our justice system is a loving joke.

Somehow, we are proud of it, because it is slightly less awful than that of the US.

# ? Feb 2, 2015 23:53

etalian: Mar 20, 2006

HookShot posted:

Yeah, that was posted a couple days ago, and it's insane.

I don't understand how an entire half a duplex can be demolished, just leaving the other half hanging there open to the elements and everything

I know this thread likes to poo poo on homeowners, but I actually hope she wins the lawsuit and gets everything she asked for, because holy poo poo.

Basically it was a fly by night contractor which was doing work without basic things like a permit being approved and even following basically safety rules.

They basically demo the next door house without shoring the adjacent houses.

etalian fucked around with this message at 01:20 on Feb 3, 2015

# ? Feb 3, 2015 00:53

Professor Shark: May 22, 2012

etalian posted:

They basically demo the next door house without shoring about the adjacent houses.

No, they completely demo it after working on it for a while, and then the other house starts leaning into the hole lol

A new builder buys it and builds a better house, sells it for a tidy profit when it's done, the recent widow sells her house at a loss

# ? Feb 3, 2015 01:17

Lain Iwakura: Aug 5, 2004; The body exists only to verify one's own existence.; Taco Defender

As CI has put it in his probated state, "eat poo poo, Calgary":

http://www.theglobeandmail.com/repo...rticle22749863/

quote:

Calgary�s housing market has taken a sudden turn downward, raising new concerns about the state of Alberta�s economy in the midst of falling oil prices.

Figures released Monday showed soaring listings and plummeting home sales in Calgary, once one of the hottest markets in the country. The sharp slump comes two weeks after Bank of Canada Governor Stephen Poloz cut the bank�s key lending rate, warning that he was seeking to counteract the economic damage of plunging oil prices on the country�s indebted households.

Only a month after predicting that home prices in the region would be stable in 2015, the Calgary Real Estate Board admitted that low oil prices and fears over the fate of the region�s fragile economy have hammered consumer confidence. Home sales plunged 35 per cent in January to their lowest levels in more than seven years while new listings shot up 40 per cent.

Just 880 homes changed hands in January, well below the 1,439 homes that sold in January of last year and the lowest level for any January since 2009, according to the board. Even as sales fell, new listings rose to their second-highest level for any January in a decade, behind only 2008.

The ratio of sales to new listings plunged 55 per cent as inventories of homes listed for sale rose to more than five months compared to just 1.5 months a year ago.

The region�s deteriorating housing market has yet to hit prices, the board said. Among detached homes and townhouses, prices were flat compared to a month earlier, but up an average of 7.7 per cent compared to January, 2014, largely thanks to a strong housing market for most of 2014.

It was a more dire picture in the condo market, however, where the inventory of units up for sale leaped from less than two months in January of last year to more than seven months and the median price fell 3 per cent to $268,000. The number of days on the market also rose sharply, with condos taking an average of 55 days to sell, compared to 43 days in December.

�Consumers are a bit uneasy about what�s happening in the market,� said the board�s chief economist Ann-Marie Lurie. �They see that we�re having these continued low oil prices, potentially having concerns about what�s going to happen to their employment situation and this is making them very hesitant to transact.�

With crude oil prices touching seven-year lows, more than 40 per cent of Alberta oil producers are expected to slash capital expenditures and a third expected to cut jobs, according to a report released Monday by human resource firm Mercer. Already, companies such as Royal Dutch Shell PLC and Suncor Energy Inc. have announced plans to slash thousands of jobs, although employment losses have yet to show up in the region�s labour force statistics, said Royal Bank of Canada senior economist Robert Hogue.

Even so, he said the central bank�s rate cut won�t be enough to offset the economic uncertainty that is plaguing Alberta�s housing market. �At this stage it�s more of a psychological game,� Mr. Hogue said. �If confidence is eroding, I�m not quite sure the Bank of Canada move is going to do much to reverse that in the near term.�

Bank of Montreal senior economist Sal Guatieri predicted prices in Calgary could fall as much as 10 per cent this year as �layoffs in the energy sector and a reversal in migration flows will weigh on the housing market.�

So far the slowdown in the market is mainly affecting high-end homes with price tags above $1-million, said Calgary realtor Josh Nelson. He has prospective buyers working in the oil and gas industry who are watching from the sidelines as prices of some multimillion-dollar homes have dropped as much as $500,000. �Now that news has started to come out I think you are getting people a little bit gun-shy to make that decision,� he said. �They know that prices were high and supply was down in 2014. There are people sitting on the fence now saying, �okay, let�s see what�s happening.��

Since listing her condo townhouse at about $340,000 three weeks ago, Calgary entrepreneur Susan Benoit has received only a handful of phone calls from interested buyers and just a single viewing. She purchased the unit six years ago, shortly before the market crash brought on by the financial crisis, which instantly wiped more than $100,000 off the assessed value of the home. It�s taken this long for home prices to rebound to a point where Ms. Benoit hopes to break even on selling the property, which she began renting out after she got married.

�I probably should be more worried because I have a rental property I�m trying to sell,� she said. �Right now I�m not worried. Maybe that�s naive or wishful thinking, but so many people say even though oil and gas is going down, [home] prices are still going up.�

Some choice comments (breaking the never-read-the-comments rule):

quote:

First buy some cheap Energy shares and in a couple of years with the profits buy Real Estate again at bargain prices in Calgary.

quote:

My God, look at how sage the Globe's talking heads have suddenly become. Calgary housing market declines amidst oil price downturn.

All bow to the wisdom of the sage Globe journalists who know everything that could ever be important to mankind. They are the Champions...without doubt.

Then there is this:

quote:

It's as if the whole country is in denial and if anyone dares to write anything negative they are anti-Canadian. I've noticed for years that Canadians have to be coddled when it comes to bad news.

In which a reply:

quote:

We just dont want Alberta to turn into a Camden NJ, or an East St. Louis, or downtown Detroit, or west Chicago.....shall I continue??

It's like Albertans think that FortMac is loving Disneyland or some poo poo.

# ? Feb 3, 2015 01:29

Throatwarbler: Nov 17, 2008; by vyelkin

OSI bean dip posted:

As CI has put it in his probated state, "eat poo poo, Calgary":

http://www.theglobeandmail.com/repo...rticle22749863/

Some choice comments (breaking the never-read-the-comments rule):

Then there is this:

In which a reply:

It's like Albertans think that FortMac is loving Disneyland or some poo poo.

You say that like it's some kind of joke but isn't cross iron mills the biggest mall in North America or something like that? So Airdrie is like the Dubai of the Western Hemisphere.

# ? Feb 3, 2015 01:47

etalian: Mar 20, 2006

OSI bean dip posted:

As CI has put it in his probated state, "eat poo poo, Calgary":

http://www.theglobeandmail.com/repo...rticle22749863/

Pretty much figures that the place with the most commodity bubble exposure will get hosed first and fastest.

# ? Feb 3, 2015 01:49

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# ? May 9, 2024 22:26

Sassafras: Dec 24, 2004; by Athanatos

Sassafras fucked around with this message at 07:38 on Feb 4, 2015

# ? Feb 3, 2015 02:19

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

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