Comments on: How Much Will Canadian Real Estate Crash? Stability Requires A Big Correction: BMO

By: JCH

JCH — Mon, 30 May 2022 06:28:11 +0000

In reply to Chris.

Agreed, Chris! I also see the writing on the wall – don’t want us and our kids to be taxed heavily for generations to pay for the insane debt here. So, I too am planning to leave Canada in 6 years, when the kids finish school.

Looking into countries to retire to, where the kids can work, and a different country to store our money. Have half our assets in Canada and half in US now. Not confident that either will have much value in future so getting ready to move $ elsewhere soon, while they are still reasonably strong.

Love to have sound currency suggestions! Wondering if Norwegian crowns may be sound; considered CHF but they also have so much debt and no gold.

Best of luck to others making similar plans – think you’ll be financially safer because of it!

By: Desai

Desai — Thu, 26 May 2022 16:19:22 +0000

This is a consequence due to the unfortunate policies of the government in the last 20+ years. CMHC, Bank of Canada, politicians, wild immigration & refugees, developers, and relator slurped the exquisiteness out of this vast immaculate country.

By: Jing-Xing Zhu

Jing-Xing Zhu — Thu, 26 May 2022 12:21:31 +0000

Do you think government would want to see it happen, you are nave and green. Can you imagine how much more tax revenue government can bring in with the high price. Same as the gasoline price, government has no intention to bring it down.

By: Chris

Chris — Thu, 26 May 2022 11:22:58 +0000

@Ron you could effectively say that the government used the housing market as its own massive HELOC. Servicing that debt is going to crush us for the next 50 or so years. I’m working a multi-pronged strategy to be able to retire comfortably outside of the country and encouraging others to join me.

By: Greg

Greg — Thu, 26 May 2022 03:20:25 +0000

We’ve been sold on society and people buy into it at different levels. Suckers! You think it’s great if it’s perceived as ” a deal” and buy into and crave to have more. Big house, luxury car, 3 wives(2 don’t know) and everyone crooked as a snake. Prove me wrong!!!!
We anesthetize ourselves with vacations, toys, booze and now cannibis will save the day and we’ll soon have gay turtles that have a tax advantage if they file early. Best is see if they post this as in whatever happened to free speech? It is all smoke and mirrors. Someone always has a nicer home, a faster car and 3 wives. But trust me on the sunscreen.

By: Joe Roberts

Joe Roberts — Thu, 26 May 2022 01:28:47 +0000

Has anyone heard from Jagmeet Singh on any of the stuff, does he still live here !

By: Donald

Donald — Thu, 26 May 2022 00:31:15 +0000

In reply to Chris. I think this refers to a sharp turn in market psychology where the opposite of enthusiasm sets in in such cases markets continue to speculate but the momentum is negative. We might likely be able to avoid that. Markets may correct but that’s different than crashing.

By: Donald

Donald — Thu, 26 May 2022 00:19:47 +0000

He doesn’t think about monetary policy he thinks about families

By: M. Hope

M. Hope — Wed, 25 May 2022 22:29:40 +0000

As a retired real estate broker in the GTA, I have seen and been through every type of market…the good; the bad and the ugly. It truly ceases to amaze me how any family can afford all the luxuries of a fantasy world and sleep at night. Record personal debt; high end vehicles; bars/restaurants; expensive vacations; all the kids sports leagues; music lessons; the latest iphones and on and on!
In November past a leading RBC senior housing analyst stated that only 24.6% of pop in the GTA can afford the average home. In addition, one would need an income of $147,500 plus a d.p. of $312.000 to afford the average priced home. That leaves 75.4% out of the market! Add in the REAL inflation rate, which is 2 points higher then stated plus 10% increase in food; $2.00 a litre for gas, this is a recogining on the horizon.
I’ve seen this in 1983; 1989; 1993/4 and 1999. People absolutely refuse to live within their means. They want,want, want at any cost! I’ve seen many people cry in their luxurious estate driveway filled with high end vehicles. I have ZERO empathy or sympathy for anyone who has zero value for money living a life as if they won the lottery.
Boy, I could write a book on this outrageous shit. Four big crashes since 1983 and the fifth is on the horizon.
38% over valued is bang on! The clock is ticking!!

By: raj

raj — Wed, 25 May 2022 19:01:37 +0000

stress test was bypassed by fake financial papers. People won’t be able to afford increased mortgages.