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.

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namaste friends: Sep 18, 2004; by Smythe

GreyjoyBastard posted:

The who?

Mafia clan.

# ? Nov 14, 2014 00:41

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# ? Jun 5, 2024 11:02

etalian: Mar 20, 2006

Baronjutter posted:

http://www.theglobeandmail.com/video/globe-now/video-globe-now/article21571678/
All glass condos doomed, built to fail. I heard a lot of this in the early 2000's when I was first getting into architecture. "untested" "unknown lifespans" was whispered a lot. Then results started coming in, but who cares the replacement for the windows won't come till long after the developer is done with the building. It's been becoming more and more talked about and been hitting the media more often. The developers know, if you see a developer building a building for rental they don't do glass walls because they plan on owning the building for decades. But the public still loves how they look, anything other than glass walls is seen as lower-end, and developers are fine selling buildings with short lifespans to idiot canadian condo buyers.

It's a classic example of real estate bubble architecture.

On the flip side rental properties avoid such gimmicks since long life and also lower maintenance cost are higher priorities.

# ? Nov 14, 2014 02:19

Baronjutter: Dec 31, 2007; "Tiny Trains"

etalian posted:

It's a classic example of real estate bubble architecture.

On the flip side rental properties avoid such gimmicks since long life and also lower maintenance cost are higher priorities.

It's funny though because one of the things I hear armchair architects complain about is when a building doesn't have enough glass. They'll look at some new rental project and make fun of it for not having big enough windows, not having curtainwalls, not having a water feature or a grand lobby. The consumers are driving their own ruin by thinking anything that isn't super glassy as a "bunker" or "affordable housing block". The % of exterior glazing is basically a sign of the class of the building in a lot of people's minds. Awesome, enjoy the bill in 20 years (not that any of the initial buyers will be even living there in 20 years, what's the average condo turnover in Vancouver or Toronto, something like 4-5 years?)

# ? Nov 14, 2014 03:11

Rime: Nov 2, 2011; by Games Forum

Baronjutter posted:

It's funny though because one of the things I hear armchair architects complain about is when a building doesn't have enough glass. They'll look at some new rental project and make fun of it for not having big enough windows, not having curtainwalls, not having a water feature or a grand lobby. The consumers are driving their own ruin by thinking anything that isn't super glassy as a "bunker" or "affordable housing block". The % of exterior glazing is basically a sign of the class of the building in a lot of people's minds. Awesome, enjoy the bill in 20 years (not that any of the initial buyers will be even living there in 20 years, what's the average condo turnover in Vancouver or Toronto, something like 4-5 years?)

I feel like there's a really great satire about a historical example of utterly useless garbage being used as a dick-measure of a persons wealth and prestige, but I cannot for the life of me remember what it is. This most certainly is a modern day equivalent.

# ? Nov 14, 2014 03:39

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

Baronjutter posted:

It's funny though because one of the things I hear armchair architects complain about is when a building doesn't have enough glass. They'll look at some new rental project and make fun of it for not having big enough windows, not having curtainwalls, not having a water feature or a grand lobby. The consumers are driving their own ruin by thinking anything that isn't super glassy as a "bunker" or "affordable housing block". The % of exterior glazing is basically a sign of the class of the building in a lot of people's minds. Awesome, enjoy the bill in 20 years (not that any of the initial buyers will be even living there in 20 years, what's the average condo turnover in Vancouver or Toronto, something like 4-5 years?)

When the word about those glass walls starts being common knowledge, the turnover rate on those condos is gonna go way down.

# ? Nov 14, 2014 03:50

less than three: Aug 9, 2007; Fallen Rib

I am in a brand new condo where the developer wasn't a dumb and put floor to ceiling windows. I think it's fine. :shrug:

# ? Nov 14, 2014 03:53

sat on my keys!: Oct 2, 2014

Rime posted:

I feel like there's a really great satire about a historical example of utterly useless garbage being used as a dick-measure of a persons wealth and prestige, but I cannot for the life of me remember what it is. This most certainly is a modern day equivalent.

The tulip mania, maybe?

# ? Nov 14, 2014 04:18

Pixelboy: Sep 13, 2005; Now, I know what you're thinking...

Lexicon posted:

Oh my god, UBC. Why.

http://ubcinsiders.ca/2014/11/ubc-peddles-non-refundable-master-degrees-to-naive-high-schoolers

I don't know... seems like the students are going to learn a good lesson.

# ? Nov 14, 2014 04:26

I would blow Dane Cook: Dec 26, 2008

Rime posted:

I feel like there's a really great satire about a historical example of utterly useless garbage being used as a dick-measure of a persons wealth and prestige, but I cannot for the life of me remember what it is. This most certainly is a modern day equivalent.

http://en.m.wikipedia.org/wiki/Obelix_and_Co.

# ? Nov 14, 2014 04:30

Rime: Nov 2, 2011; by Games Forum

bartlebyshop posted:

The tulip mania, maybe?

Nah, Tulip occurred to me but it's more of an economic model example. I'm thinking more like wearing leeks on your head or something equally stupid and peacockish.

Jumpingmanjim posted:

http://en.m.wikipedia.org/wiki/Obelix_and_Co.

Holy poo poo, you know, I think this exactly the satire I was trying to remember. Mad props! :haw:

# ? Nov 14, 2014 04:52

namaste friends: Sep 18, 2004; by Smythe

Jumpingmanjim posted:

http://en.m.wikipedia.org/wiki/Obelix_and_Co.

Thank you for reminding me of this excellent lesson in economics. I loved this particular comic book more than any others in the series.

# ? Nov 14, 2014 06:34

ChairMaster: Aug 22, 2009; by R. Guyovich

Jumpingmanjim posted:

http://en.m.wikipedia.org/wiki/Obelix_and_Co.

quote:

The slave owner replies: Exactly! The right to work is the only right a slave has. He must not be deprived of it!

That's so awesome.

# ? Nov 14, 2014 06:46

I would blow Dane Cook: Dec 26, 2008

https://www.youtube.com/watch?v=fyOc8cEEAaQ

# ? Nov 15, 2014 01:48

Baronjutter: Dec 31, 2007; "Tiny Trains"

Jumpingmanjim posted:

https://www.youtube.com/watch?v=fyOc8cEEAaQ

Aberdeen centre is a much better version of this.

# ? Nov 15, 2014 02:06

etalian: Mar 20, 2006

Jumpingmanjim posted:

http://en.m.wikipedia.org/wiki/Obelix_and_Co.

This satire owned since it skewed everything from economic bubbles to globalism.

# ? Nov 15, 2014 03:02

blah_blah: Apr 15, 2006

Baronjutter posted:

Aberdeen centre is a much better version of this.

There is nothing good about Aberdeen Center except for possibly the Daiso. Seriously, I'm completely convinced that like 50+% of the stores in there are not profitable assuming that they are paying their staff minimum wage, and the few that are (mostly restaurants) are still pretty mediocre.

# ? Nov 15, 2014 11:12

Throatwarbler: Nov 17, 2008; by vyelkin

I went to this Aberdeen Center once when I visited Vancouver. In China it would be a mediocre mall in a 3rd tier city or somewhere far on the outskirts of a major city. Except in China the people would be more pleasant and better drivers. The fact that people in Vancouver seem to think it was a place even worth mentioning is pretty good proof that Vancouver is the worst city in Canada.

quote:

There is nothing good about Aberdeen Center except for possibly the Daiso. Seriously, I'm completely convinced that like 50+% of the stores in there are not profitable assuming that they are paying their staff minimum wage, and the few that are (mostly restaurants) are still pretty mediocre.

The US was littered with these kinds of stores too (oddball-concept restaurants, stores that only sell anime figurines or dog toys or some other weirdly specific product), pre-2008. No one could figure out why they were in business. After 2008 it turned out they were all vanity projects for the bored housewives/dumb daughters of people who lucked out in real estate.

# ? Nov 15, 2014 11:49

namaste friends: Sep 18, 2004; by Smythe

Throatwarbler posted:

I went to this Aberdeen Center once when I visited Vancouver. In China it would be a mediocre mall in a 3rd tier city or somewhere far on the outskirts of a major city. Except in China the people would be more pleasant and better drivers. The fact that people in Vancouver seem to think it was a place even worth mentioning is pretty good proof that Vancouver is the worst city in Canada.

I know it's not equivalent but I find the taiwanese in taipei to be so much nicer as a people. Polite and civilized.

# ? Nov 15, 2014 17:19

etalian: Mar 20, 2006

Cultural Imperial posted:

I know it's not equivalent but I find the taiwanese in taipei to be so much nicer as a people. Polite and civilized.

China is basically the spock's beard version of Taiwan IMO.

# ? Nov 15, 2014 18:23

ductonius: Apr 9, 2007; I heard there's a cream for that...

blah_blah posted:

There is nothing good about Aberdeen Center except for possibly the Daiso.

What strikes me about that mall is shopping seems to be an afterthought. If you go to the east most end on the second floor at look west you can see nothing but three stories of empty space with walkways so twisty you can't see the shops you might want to visit. There's an outdoor rotunda, which would be impressive to walk through except it fronts onto a two lane side-street with no parking, and the site parking is in a parkade on the other side of the mall, so you never have an occasion to walk through it. The absolutely massive three story atrium that would be great to host various events that people could watch from the mall's different levels, except there's a giant fountain in the center so I guess you're not putting any event bigger than a bonsai show there, huh?

The mall was seemingly built by people who never considered how the building was actually going to be used.

But, yes, I know all this because I go to the Daiso a few times a year so I guess Aberdeen has that going for it.

# ? Nov 15, 2014 18:59

namaste friends: Sep 18, 2004; by Smythe

Debt recourse as modern art hollaaaaaaa

http://www.theguardian.com/lifeandstyle/2014/nov/15/debt-how-i-turned-around-shameful-taboo

quote:

In 2011, Alinah Azadeh and her husband, Leo, were issued with a repossession order for their home in Lewes, East Sussex, where they had lived with their children, Delia and Moses, for five years. It was the culmination of financial circumstances that had been growing steadily out of hand.

In court, discussing the proposed repossession � the product of a toxic cloud of missed mortgage repayments and negative equity, under which their mortgage lender was refusing to allow them to sell � Alinah experienced what she describes as a zen moment. �The judge said, �Of course you should be able to sell [the house],�� Alinah says. �Then she said, �You know, 90% of people don�t turn up to these hearings, when they could very easily be helped.�

�I asked her why she thought that was, and she said, �Because it�s so shameful. They don�t want to admit to being in debt. It�s still such a taboo.��

From that moment, Alinah, an artist, whose work spans textiles, digital art and live performance began to feel differently about the situation in which she and her family had found themselves.

�The moment I walked out of that court,� she says, �I was like, �I�m not afraid any more � there�s nothing to lose. We don�t have access to any credit. We don�t have a house.�

�I�d been feeling that being in debt was all my fault � I�d gone over the top, I�d not said no. I realised that, actually, there�s a dual responsibility. There�s a lifestyle that everyone has been sold, and it�s based on money that doesn�t really exist. Whole governments and nations are built on this and I was a part of that.�

Alinah resolved to make debt, and the complex web of emotions that it spins, the subject of her next artwork. Burning the Books has been touring the country for the last three years. It began as an experiment in Liverpool in 2011, as part of an artists� residency. Dressed in a long velvet coat, and carrying a large book bound in sackcloth, Alinah invited passersby to write down their answers to the question: �What do you owe � or what are you owed?�

Later that day, in the courtyard of the Bluecoat gallery in Liverpool, Alinah burned the book � the Book of Debts � as an act of erasure, a ritual letting-go. Since then, she has repeated the performance around the country, receiving hundreds of responses, encompassing everything from money owed to banks, family and friends; to emotional and philosophical debts owed to society, the environment, or even to God.

One man wrote that he owed his soul to the Lord; another that he was in debt to his community, for saving his life when he was sleeping on the streets. The first person to contribute to the book � an elderly man � described the emotional debt he owed to his late wife. �He stared at me,� Alinah says, �and then said, �I was just thinking about my wife, who died 10 years ago � about how much I owe her. I didn�t give her the attention and love I should have done, and I still feel that there�s something outstanding between us.� Debt, you see, is a very broad thing, and the scale of the debt doesn�t matter. There�s always guilt, denial, shame, anger, fear.�

Debt arrived in Alinah�s family in the years following the death of her mother, Parvin, in the Indian Ocean tsunami in 2004. She and her younger brother Simon were, naturally, deeply affected, not least because there were several agonising weeks in which they were unable to establish what had happened to her. Alinah acted as executor of her mother�s estate; the legal proceedings were lengthy, and in the meantime she and Leo found themselves overexposed financially, buying a house that, in retrospect, they couldn�t really afford, and living on continually extended credit.

Money borrowed from, and then, in turn, lent to a relative compounded the situation, bringing with it feelings of guilt and frustration. Several of the couple�s creditors hounded them relentlessly. �One of them started calling me day and night,� Alinah says, �using really aggressive, emotional language � saying things like, �We can get your house taken away from you.� I was really angry, really stressed. I just didn�t know how to deal with it.�

With the help of the debt charity StepChange, Alinah and Leo were able to stop the nuisance calls (under Financial Conduct Authority guidelines, creditors are allowed to keep asking debtors for payment, but not to contact them at unreasonable times, or to use threats or unhelpful legal language). They also managed to work out a repayment plan, but were left with no access to credit, and some serious money worries.

�Poverty is relative, right?� Alinah says. �We live in a lovely, middle-class town, with friends around us; we�re not going to starve. But at one point it was like, �How are we going to eat this week?� It was very difficult on our marriage. We worked hard to manage the children�s expectations: we used hand-me-downs and we couldn�t take them out for birthday parties, like their friends might have, but we still used our creativity to do fun things at home. We knew we had to stick together on it or it was really going to destroy our family. And we had a lot of support from the people around us.�

As any of us who have ever struggled financially will know � and since the credit crunch, that must be most of us � worrying about money is emotionally draining. Debt is particularly so � according to StepChange, almost 75% of the 500,000 people who called the charity�s helpline last year said debt problems had affected their sleep, while 64% said they were experiencing mood swings. For those who, like Alinah and Leo, have borrowed from a relative or friend, the impact on those relationships can also be severe.

Making Burning the Books has, Alinah says, been hugely helpful in coming to terms with their situation � not only in forcing her, and those who participate in the work, to face up to an issue that is so often taboo; but in inspiring her to think about debt as a moral question, one bound up with ideas of sin. �The pathology of debt is �I owe, so I must pay,�� she says. �It�s a moral obligation. We were using money that we really should have been using on living, on trying to make the payments. You�ve signed, so you feel you have to pay, even if you can�t afford to buy your children new shoes.�

The work has also given Alinah pause for thought about the fact that debts � especially of the emotional kind � are, to some degree, an integral part of our relationships; the byproduct, if you like, of being part of any social group. To feel that we owe nothing to anyone at all, we would need to be living in complete isolation � as one participant in Burning the Books made clear.

�In one town, I went up to a man who was selling old fridges,� Alinah says. �I explained what I was doing, and he looked at me and said, �I don�t owe anyone anything. No one owes me anything. And that is one of the advantages of being completely alone in this world.�

�It�s really interesting, because debt is a form of relationship. Being in any kind of relationship means being willing to be owed. It�s only when it becomes commodified that it�s a problem.�

In the UK where the class system still prevails this dumb oval office is what's known as a social climber, which really, is what all overindebted prideful homeowners really are. We just haven't developed social stigma of being born without money.

# ? Nov 16, 2014 17:31

melon cat: Jan 21, 2010; Nap Ghost

From that article:

quote:

�Poverty is relative, right?� Alinah says. �We live in a lovely, middle-class town, with friends around us; we�re not going to starve. But at one point it was like, �How are we going to eat this week?� It was very difficult on our marriage.

Actually, no. Poverty isn't "relative". Poverty is defined as not having enough money to meet basic needs including food, clothing and shelter. It has a concrete definition that is recognized across every country on this planet. This definition is written into government policies for social assistance programs.

quote:

�I�d been feeling that being in debt was all my fault � I�d gone over the top, I�d not said no. I realised that, actually, there�s a dual responsibility. There�s a lifestyle that everyone has been sold, and it�s based on money that doesn�t really exist. Whole governments and nations are built on this and I was a part of that.�

So... an artist who bought a house she couldn't afford, then lent borrowed money to relatives, feels that her situation isn't her fault. I just... can't. :psyduck:

melon cat fucked around with this message at 18:23 on Nov 16, 2014

# ? Nov 16, 2014 18:18

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.

I don't know, man. I don't know. The select few people I've told about plans to move to a farm and start homesteading and living way below even modest means have been pretty shocked. As in, something like that would never even occur to them as an option. And there's a much larger number of people, as in basically everyone I work with at my office, whom I'll probably never tell until I give my 2 weeks notice because I'd just be the office kook (vegan and not ever buying new things, I kind of already am)

Nobody has outright said, "You're crazy!" but there's always this reactions of, "oh, how would you even know how to do that?" In my lifetime, I think living beyond your means has just become the norm and people don't really think about how much they consume or how to manage their consumption, let alone the fact that they could consume significantly less and have a higher quality of life. Maybe the economic stagnation of the Millennials will turn things around, because, gently caress, my peer group consumes less because they're pushed to the limits pretty quickly. I'm saying our whole culture has shifted to American-style consumer culture, and while that doesn't excuse personal responsibility, capitalism is ultimately fascists and doesn't allow for any other viewpoints of how to live.

Something that's become very prevalent in Ontario are these enormous, multi-acre shopping complexes in heavily car-reliant areas. My family lives in London and basically the whole city has been taken over by these. The usual suspects of the stores are Wal-Mart, some sort of Weston store (Superstore/Loblaws), probably Home Depot, maybe CT, increasingly Target, but I think the planning permission approval for these is pretty lax. It doesn't seem as if anyone cares if the community can support this. It's a very "if you put these enormous edifices to consumption in a field, they will come."

The message increasingly in my lifetime to Canadians has been "consume, consume, consume" and it seems harsh to judge someone for hearing that message when it's screamed at them all the time, everyday.

# ? Nov 16, 2014 18:34

LemonDrizzle: Mar 28, 2012; neoliberal shithead

melon cat posted:

So... an artist who bought a house she couldn't afford, then lent borrowed money to relatives, feels that her situation isn't her fault. I just... can't.

She isn't saying it's not her fault, she's saying there's a "dual responsibility". On at least one level, that's trivially true - any time a loan goes bad, you necessarily have both an over-borrower and a careless lender. I don't think it's unreasonable to argue that the lender should share an equal portion of the blame and consequences.

# ? Nov 16, 2014 18:39

melon cat: Jan 21, 2010; Nap Ghost

LemonDrizzle posted:

She isn't saying it's not her fault, she's saying there's a "dual responsibility". On at least one level, that's trivially true - any time a loan goes bad, you necessarily have both an over-borrower and a careless lender. I don't think it's unreasonable to argue that the lender should share an equal portion of the blame and consequences.

But the banks do share a portion of the consequences. Whenever they issue a credit card to anyone they're taking a large risk (hence, their stupidly-high interest rates). If they make bad lending decisions, then Mr. CEO has a lot of angry shareholders to explain their tanking stock price to. Never forget the high price that Canada's own CIBC paid during the '07/'08 financial crisis. Not only did they get hit with a $3 billion charge for being heavily invested in the subprime market, but their investors also tried to sue them.

And most Canadian banks aren't exactly thrilled about the idea of foreclosing on borrowers. For one, foreclosure's a long, expensive legal process. Secondly, foreclosure means that the bank is stuck with a house that they now have to sell ASAP. Thirdly, if they're foreclosing on the client's house you can bet your rear end that the rest of that client's credit facilities are totally hosed, since people usually pay their mortgage before anything else. That means that the bank is either going to have a debt consolidation discussion with the client, or sell the collections account to an outside company (both of which are done so at a loss). And lastly, it's bad PR. Being featured on the news for taking away a grandma's house really isn't good for business.

So banks definitely expose themselves to a number of risks when lending, especially when it's for hundreds of thousands of dollars per client.

melon cat fucked around with this message at 04:37 on Mar 16, 2019

# ? Nov 16, 2014 18:55

Rime: Nov 2, 2011; by Games Forum

melon cat posted:

Never forget the high price that Canada's own CIBC paid during the '07/'08 financial crisis. Not only did they get hit with a $3 billion charge for being heavily invested in the subprime market, but their investors also tried to sue them.

And not only did CIBC keep that CEO on until 2014, they increased his annual compensation from $6m in 2009 to over $10m by 2011. :laffo:

# ? Nov 16, 2014 19:30

etalian: Mar 20, 2006

Rime posted:

And not only did CIBC keep that CEO on until 2014, they increased his annual compensation from $6m in 2009 to over $10m by 2011.

you're doing a heck of job a brownie

# ? Nov 16, 2014 20:17

I would blow Dane Cook: Dec 26, 2008

This loving country man

quote:

House price inflation will decelerate further next year, weighing on construction activity and household sentiment, as real wage and income weakness continues to hold back economic growth, according to a cautionary assessment from the closely watched economist Saul Eslake.

Bank of America Merrill Lynch's senior Australian economist says the current slowdown in house price growth will persist into 2015, despite record-low lending rates. Plans by the Australian Prudential Regulatory Authority (APRA) to toughen conditions around investor loans will also be a factor here, he says.

All this could eventually curb construction activity � one of the main drivers of non-resource growth at the moment � and trap negatively geared property investors counting on capital gains to upgrade to owner-occupiers, he warns.

"It is our view that national median dwelling-price growth will decelerate markedly in 2015," he wrote.

"This is as household income growth and sentiment remain soft, the unemployment rate rises, affordability deteriorates and the stimulatory impact of low interest rates fades."

He said the slowdown would bring house price inflation more into line with income growth and mortgage rates, calculated at between 3.5 per and 4 per cent.

APRA's macroprudential measures added "downside risk" to this calculation, as did the chances of the beginning of a monetary tightening cycle in 2016, Mr Eslake said. The cooling property market had important macroeconomic repercussions.

"The Reserve Bank of Australia for one has been extolling the role that increases in house prices have been playing in supporting both consumer spending and residential construction," he said.

"If house price growth decelerates and perhaps even declines in real terms this could weigh on consumption and dwelling investment into 2015," he said.

Mr Eslake's comments cap a week in which official data confirmed that real wages were declining, business and consumer sentiment remain subdued despite improving operating conditions and growth in lending to buy-to-let property investors is dramatically outstripping mortgages to first-home buyers.

For the first time in the 30-year history of the Australian Bureau of Statistics' housing finance series, the value of investor loan approvals in September, at $11.94 billion, was greater than the value of loans to owner-occupiers, at $11.77 billion.

Investor finance approvals have risen 68 per cent since the RBA starting cutting the cash rate in 2009.

Mr Eslake said this trend was driving a build-up of risks in the housing market, aided by the widespread use of negative gearing, which allows investors to offset interest costs against tax.

"The latest data from the Australian Tax Office for 2011-12 suggests that 19 per cent, or around one in five, Australian taxpayers is a landlord," said Mr Eslake.

"And of this, around 13 per cent of these taxpayers are taking advantage of negative gearing," he said.

This meant that 68 per cent of landlords declare an income loss on their property investments.

"Therefore these landlords are relying on capital gains to offset income losses," said Mr Eslake.

"This is a strategy subsidised by the government, but it may not be a good one if dwelling prices don't rise," he said.

http://www.theage.com.au/business/the-economy/house-price-growth-to-decrease-markedly-says-saul-eslake-20141117-11nysw.html

# ? Nov 17, 2014 10:02

Professor Shark: May 22, 2012

Jumpingmanjim posted:

This loving country man

http://www.theage.com.au/business/the-economy/house-price-growth-to-decrease-markedly-says-saul-eslake-20141117-11nysw.html

This country = Australia, right?

# ? Nov 17, 2014 10:19

I would blow Dane Cook: Dec 26, 2008

Professor Shark posted:

This country = Australia, right?

yeah, they seem to tolerate me in this thread.

# ? Nov 17, 2014 10:23

namaste friends: Sep 18, 2004; by Smythe

Conspicuously missing is any mention of China in this report.

# ? Nov 17, 2014 16:55

namaste friends: Sep 18, 2004; by Smythe

http://www.cbc.ca/news/business/canada-s-average-house-price-rises-7-to-419-699-1.2835066

quote:

Canada's average house price rises 7% to $419,699

gently caress this loving country

# ? Nov 18, 2014 05:07

on the left: Nov 2, 2013; I Am A Gigantic Piece Of Shit

Literally poo from a diseased human butt

Wow, Canadians must have high incomes to support such prices! Congratulations to Canadian politicians for building such a strong, diversified economy!

# ? Nov 18, 2014 05:09

namaste friends: Sep 18, 2004; by Smythe

we should invite every dumb motherfucker in the world to immigrate because then they can take out a mortgage and keep this FIRE conveyor belt running

# ? Nov 18, 2014 05:12

etalian: Mar 20, 2006

on the left posted:

Wow, Canadians must have high incomes to support such prices! Congratulations to Canadian politicians for building such a strong, diversified economy!

# ? Nov 18, 2014 05:13

namaste friends: Sep 18, 2004; by Smythe

lmao

# ? Nov 18, 2014 05:15

namaste friends: Sep 18, 2004; by Smythe

i hope all y'all motherfuckers go bankrupt

# ? Nov 18, 2014 05:18

Furnaceface: Oct 21, 2004

Im almost afraid to ask just how many jobs are tied into this housing bubble at this point. There must be a small army of realtors and contractors that stand to lose jobs if this ever goes belly up.

# ? Nov 18, 2014 05:20

on the left: Nov 2, 2013; I Am A Gigantic Piece Of Shit

Literally poo from a diseased human butt

Furnaceface posted:

Im almost afraid to ask just how many jobs are tied into this housing bubble at this point. There must be a small army of realtors and contractors that stand to lose jobs if this ever goes belly up.

The best way to gauge this is to pick up a newspaper and check what percentage of the newspaper is ads for real estate. Ever since classifieds were killed by the internet, real estate advertisement is one of the biggest supporters of your local newspapers.

If a large portion is real estate ads, it seems pretty realistic that a large part of your local economy is propped up by real estate.

# ? Nov 18, 2014 05:26

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# ? Jun 5, 2024 11:02

HookShot: Dec 26, 2005

Furnaceface posted:

Im almost afraid to ask just how many jobs are tied into this housing bubble at this point. There must be a small army of realtors and contractors that stand to lose jobs if this ever goes belly up.

I think there are approximately 50k registered realtors in Canada, but I honestly can't remember where I read that number so it might be way off.

# ? Nov 18, 2014 05:26

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

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