Comments on: Canadians Borrowed $22 Billion More In Home Equity, A New Record For Growth

By: BCModerate

BCModerate — Mon, 27 Jun 2022 23:33:02 +0000

Guy Mitchell said it best although he didn’t know he was talking about Canadian Real Estate at the time:

Well, I never felt more like singin’ the blues
‘Cause I never thought that I’d ever lose
Your love dear, why’d you do me this way?
Well, I never felt more like cryin’ all night
‘Cause everythin’s wrong, and nothin’ ain’t right
Without you, you got me singin’ the blues.
The moon and stars no longer shine
The dream is gone I thought was mine
There’s nothin’ left for me to do
But cry-why-why-why over you (cry over you)
Well, I never felt more like runnin’ away
But why should I go ’cause I couldn’t stay
Without you, you got me singin’ the blues.
Well, I never felt more like singin’ the blues
‘Cause I never thought that I’d ever lose
Your love dear, why’d you do me this way?
Well, I never felt more like cryin’ all night
‘Cause everythin’s wrong, and nothin’ ain’t right
Without you, you got me singin’ the blues.
Oh, the moon and stars no longer shine
The dream is gone I thought was mine
There’s nothin’ left for me to do
But cry-why-why-why over you (cry over you)
Well, I never felt more like runnin’ away
But why should I go ’cause I couldn’t stay
Without you, you got me singin’ the blues

By: Mark Bayly

Mark Bayly — Sun, 26 Jun 2022 23:08:48 +0000

Higher interest rates and inflation on everything besides wages is going to destroy all these debtorama people And then everyone especially the Toronto star will be crying the blues and blaming the conservatives and Trump Quite a circus.

By: Zalzon

Zalzon — Sun, 26 Jun 2022 07:55:31 +0000

I hope the real estate gambling losses (i.e mortgage defaults) are not bring transferred onto the backs of taxpayers via CMHC (or bailouts, stimulus or other fancy means) when it all comes crashing down.

The banks and real estate flippers made good money on the way up. Are taxpayers now supposed to eat the mortgage default losses on the way down?

As it stands, the premiums CMHC charged for hundreds of billions of mortgage insurance was devoid of private sector insurance participation to set premiums (i.e. no proper pricing of risks).

By: Ron

Ron — Sun, 26 Jun 2022 03:33:58 +0000

In reply to Winnie The Pooh. That how its been designed in Canada :) Old immigrants exploit the new ones trough assets apritiation (not only). Im talking about the ones that are coming here to work ,not the ones that are looking to park their money in the real estate.

By: So Ki

So Ki — Sat, 25 Jun 2022 21:07:23 +0000

In reply to Winnie The Pooh. Immigrant here. Trust me we do realize. If immigrants can uproot themselves and leave their homes, countries, families, friends and culture to immigrate here for economic reasons, they can just as easily immigrate back when the economics of staying makes no sense. For a price of a single home in Canada, it is possible to purchase up to 5 homes in some countries. This incentive for immigrants and retirees to cash out must be removed asap.

By: Winnie The Pooh

Winnie The Pooh — Sat, 25 Jun 2022 19:25:20 +0000

The economy is a housing Ponzi. Inflate values, lend people more money, let them borrow the inflated values to pay for their life, continue.

If immigrants ever realize they’re being scammed, the bottom falls out.