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leftist heap posted:Bail out home owners by forcing them to sell their homes to renters for a quarter on the dollar. Smh if you think that is what a bailout is for to save the banks
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Jun 5, 2017 20:02
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By the way remember how smug a bunch of you were about selling all your Canadian bank stock? Lmao
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Jun 5, 2017 20:03
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Well poo poo, time to mortgage to the hilt and reap that sweet, sweet bailout money.l!
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Jun 5, 2017 20:12
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if you want to get rich quick just do the opposite of whatever goons think you should do at any given time
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Jun 5, 2017 20:23
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large hands posted:if you want to get rich quick just do the opposite of whatever goons think you should do at any given time People who didn't buy a house back in 2013 because of this thread are exhibit A of this pearl of wisdom.
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Jun 5, 2017 20:31
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I actually almost did buy a house a couple years ago, then didn't really find anything in my price range that I liked at the time, signed a new lease and went "well I'll look next year" and meanwhile prices went up 30% lol FML.
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Jun 5, 2017 20:33
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I didn't buy a house in 2013 because I didn't have $100k in 2013. Still don't. What a dummy! 
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Jun 5, 2017 20:33
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THC posted:I didn't buy a house in 2013 because I didn't have $100k in 2013. Still don't. What a dummy! Silly THC, you could still get a 0-down loan around then!
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Jun 5, 2017 20:38
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large hands posted:if you want to get rich quick just do the opposite of whatever goons think you should do at any given time That idiot couple in Toronto that hired a hobo to renovate their entire house owns $2 million dollars or more worth of property right now.
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Jun 5, 2017 20:41
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In 2014 I was still trying to save 20% down. When I saw I was being outpaced in Toronto I gave up and I bought a house in Hamilton instead (with 20% down). I came out ahead but not 33 goddamn percent year over year like I could have if I'd just leveraged to the hilt in Toronto.
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Jun 5, 2017 20:43
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I'm really curious what the end of this stupid housing bubble is going to look like. At this point I highly doubt the government is going to just go 'lol welp' and not step in to protect home owners, it's just a matter of how.
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Jun 5, 2017 20:44
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HookShot posted:I actually almost did buy a house a couple years ago, then didn't really find anything in my price range that I liked at the time, signed a new lease and went "well I'll look next year" and meanwhile prices went up 30% lol FML. i thought my in laws were crazy buying in Whistler right before the Olympics lol.
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Jun 5, 2017 20:48
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Well if it's anything like what you saw in 2009, the government will bail out the banks, maybe even nationalize a couple of them, engage in a new regime of unconventional quantitative easing which would probably include buying up ETFs like the Bank of Japan is currently doing. Then you'll see the government implement macroprudential measures that will make it easier to borrow money to buy houses at the cost of back breaking austerity cuts to social programs, education and healthcare. Because if there's one thing we all should understand about Canadian politicians, it's that they're dumb as gently caress and have no loving backbone I'll be voting for the scheer tories just to make this prophecy as painfully real as possible tyvm gently caress y'all
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Jun 5, 2017 20:51
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large hands posted:i thought my in laws were crazy buying in Whistler right before the Olympics lol. They kind of were, it crashed really badly immediately after that, but now has gone back up to pre-Olympic prices.
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Jun 5, 2017 20:57
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HookShot posted:They kind of were, it crashed really badly immediately after that, but now has gone back up to pre-Olympic prices. yeah i remember that, actually. seemed at the time like Whistler was the first sign of the coming housing crash lol
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Jun 5, 2017 21:15
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namaste faggots posted:Well if it's anything like what you saw in 2009, the government will bail out the banks, maybe even nationalize a couple of them, engage in a new regime of unconventional quantitative easing which would probably include buying up ETFs like the Bank of Japan is currently doing. Then you'll see the government implement macroprudential measures that will make it easier to borrow money to buy houses at the cost of back breaking austerity cuts to social programs, education and healthcare. Because if there's one thing we all should understand about Canadian politicians, it's that they're dumb as gently caress and have no loving backbone I'm pricing in rate increases by the BoC because our ponzi real estate economy is heating up, also rip and ship it 
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Jun 5, 2017 21:18
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In order for homeowners to be bailed out the Canadian government is now allowing homeowners to place a mortgage on their own children in order to get more funds from the banks. Failure to pay results in the children becoming property of the banks
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Jun 5, 2017 21:45
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EvilJoven posted:At this point I highly doubt the government is going to just go 'lol welp' and not step in to protect home owners, it's just a matter of how. I'm really not convinced this is how it will go down when the bubble bursts. Whatever arguments you could make in favour of the Liberals (or whoever) bailing out owners could have been made about the Dems in 2008/2009, and that's obviously not how things went down south. Why would it be different here? Why wouldn't they just bail out the banks and rely on a combination of big donors and FPTP to ensure their continued electoral success?
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Jun 5, 2017 21:53
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Well, the dems did do that, and then the US electorate went gently caress YOU DEMS and elected Trump. So maybe the LPC won't do that up here. But ya you're probably right. EDIT: Especially since the crash happened and then they gave Barack a second term. EvilJoven fucked around with this message at 22:07 on Jun 5, 2017 |
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Jun 5, 2017 21:59
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We're talking about bailing out mortgage holders here, not all home owners, right?
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Jun 5, 2017 23:08
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Why not both Homeownership is a proven cornerstone of building a strong community of upstanding citizens. Tower blocks full of rental dalits breed crime and discord
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Jun 5, 2017 23:12
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How would they bail out homeowners who didn't have mortgages? Just write them a cheque for 10% of their house's assessed value?
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Jun 5, 2017 23:13
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namaste faggots posted:rental dalits stop trying to make "rental dalits" happen it's not going to happen
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Jun 5, 2017 23:20
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Sure. Or when they sell their house, let them write off the capital gains loss.
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Jun 5, 2017 23:21
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ductonius posted:stop trying to make "rental dalits" happen it's not going to happen Shut up dalit
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Jun 5, 2017 23:21
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quote:Average price drop during May: – 6.2% How the gently caress are Torontonians so much less dumb than Vancouverites?
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Jun 6, 2017 00:43
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HookShot posted:How the gently caress are Torontonians so much less dumb than Vancouverites? Because they don't live in the greatest place on earth obv.
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Jun 6, 2017 00:45
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HookShot posted:How the gently caress are Torontonians so much less dumb than Vancouverites? Harsher winters kill off the weakest of the population, unlike Vancouver.
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Jun 6, 2017 00:47
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It won't last. Foreign buyers taxes are useless at this rate. Once the shock has written off or fuerdai have figured out how to get around it prices will resume rising. Torontonians are dumb af
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Jun 6, 2017 00:47
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mojo1701a posted:Harsher winters kill off the weakest of the population, unlike Vancouver. If this were true the crackhouse people wouldn't be richer than all of us.
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Jun 6, 2017 01:35
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By the way CI in case you missed it: http://torontolife.com/real-estate/parkdale-reno-hell/
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Jun 6, 2017 01:35
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Subjunctive posted:We're talking about bailing out mortgage holders here, not all home owners, right? bailing out mortgage holders is bailing out all home owners by propping up sky high valuations. if they let mortgage holders get hosed house prices will crater
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Jun 6, 2017 02:10
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HookShot posted:How the gently caress are Torontonians so much less dumb than Vancouverites? China has less direct control over the various governments in Ontario.
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Jun 6, 2017 02:34
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the talent deficit posted:bailing out mortgage holders is bailing out all home owners by propping up sky high valuations. if they let mortgage holders get hosed house prices will crater That only matters if/when you sell, really.
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Jun 6, 2017 02:46
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Nice. If you're offshore you get access to housing a week before locals. The pre-sales for Joyce development open for pre-sales June in 16th in Asia and June 24th in Vancouver. https://twitter.com/stevesaretsky/status/871976044286398466
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Jun 6, 2017 12:36
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Lmao they aren't even hiding who their target market is.
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Jun 6, 2017 13:23
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EvilJoven posted:Lmao they aren't even hiding who their target market is. They're just ensuring any leftover scraps will be given to the hungry.
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Jun 6, 2017 13:45
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https://twitter.com/stevesaretsky/status/871835487387996160 loving lol
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Jun 6, 2017 14:10
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If the federal government does any kind of homeowner bail out it will probably be using CMHC money going directly to banks to reduce risky mortgages, but allow those people to renegotiate at the lower mortgage value. No way the government would just transfer money to the people, you've got to get the banks their money! After all they followed all the rules right?!
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Jun 6, 2017 15:08
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I don't care if the banks or the homeowners get hosed, I just don't want to get hosed. I'm gonna get hosed.
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Jun 6, 2017 15:12
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