"Canadian Mortgage payments eat up about 59% of household earnings" Analyst says

[MustardTiger17]

Chickens coming home to roost thanks to fatherless behavior like Brad's. Srs

[OptimusTrajan]

When will all of this crash? We've been hearing of a crash for 2+ years now.

[AVOJAMACADA]

Also all new builds are super high density.

I cannot even remember the last time I saw a new build that was a fully detached house. Everything here now is condos and townhouses. It's like China.

Half true too and detached houses are narrow thin little recrtangles where you can literally knock on your neaigbors window.


This new generations truly fuked due to thinking all this is the goal for a house.

[Destor]

Brb most of sask and ab farmland was /isukraines. Back 100 years ago , you were given 100+ acres of land for free as long as you farmed it.


Brb now farmers are forgetten and burdened with carbon taxes and soon to be fertalizer tax.



Welcome to canadas liberal wonderland.

Farmed it and cleared it, I believe there is a long history of forest clearing in Saskatchewan that is what led to the province being just basically one huge flat expanse today

[sooby]

it only gets worse lol .. honestly booking my exit in the next 2-3 years. sell the condo and move abroad. might just even become a rent-cel for a year when it is decided to sell, just gonna see what my options are.


interest rates will climb, inflation still going up, immigration sky high, etc. nobody wants to live in Saskatchewan lol what is even there besides wheat fields. also not where the jobs are. house prices and mortgage payments aint coming down boyos. Gen Z/Millenials will actually own nothing and be happy (not sure about the happy part though).

lol @ anybody raising a family here in a rented 700 sqft appt with lgbt in full swing (no pun intended) in your local public schools

trudeau condemning trucker protests for having "Nazi plants" meanwhile they invite and give a standing ovation to actual Nazis. just lol.

[HateLiberals]

Also all new builds are super high density.

I cannot even remember the last time I saw a new build that was a fully detached house. Everything here now is condos and townhouses. It's like China.

Has to be high density housing or where will the Indians go LMAO

[AncientYouth]

canacucks when will they learn

whats a mortgage ?

[menseks]

Chickens coming home to roost thanks to fatherless behavior like Brad's. Srs

it's never coming. imported 500K immigrants in 2022. there's less housing than people. that's why it'll never come.

[ItMePuddingHead]

it only gets worse lol .. honestly booking my exit in the next 2-3 years. sell the condo and move abroad. might just even become a rent-cel for a year when it is decided to sell, just gonna see what my options are.

trudeau condemning trucker protests for having "Nazi plants" meanwhile they invite and give a standing ovation to actual Nazis. just lol.

Everybody sort of accepts that JT is not the brightest bulb, but assumes that he is surrounded by smart people like the Harvard/Oxford educated Chrystia Freeland (Deputy Prime Minister and Minister of Finance). Given that her Ukrainian grandfather was a Nazi collaborator during WW2 (and she got **** for it in Canadian media), I have no idea how she missed this.

[Zelensky]

When will all of this crash? We've been hearing of a crash for 2+ years now.

It won't. They're flooding the country with Pajeets and Changs to guarantee that it doesn't

[WetCoaster]

The market here is insane.

We're trying to upgrade from a townhouse to a fully detached and the price difference to do so is more than the entire value of a huge house in the US.

Basically if you don't already own a house here you never will.

Where do you live? Here you can get a decent house for $5-600,000

[WetCoaster]

canacucks when will they learn

whats a mortgage ?

Ask your American friends.... Forty-two percent of households in America have mortgages. (That’s over 51.5 million total American households)

[engj]

Why? Did a bunch of Ukrainian people move there to escape the war on covid and google/microsoft owning everything?


Huge if true

It was mostly escaping that Stalin guy that was trying to starve them out.

It's why the western prairie provinces are historically so conservative in government, most of the great-grandparents had a front-row seat to communist government over-reach.

The market here is insane.

We're trying to upgrade from a townhouse to a fully detached and the price difference to do so is more than the entire value of a huge house in the US.

Basically if you don't already own a house here you never will.

I can't get my head around how people are signing on for a $980k house built in the 70s. Then every month when they pay that $5-6k bill and you look outside and its fuking Scarborough or Mississauga.

When will all of this crash? We've been hearing of a crash for 2+ years now.

People will do anything to hold on to a house in most of Canada. Cut expenses, illegal suites, stretching out amortizations for 80 years. If you lose your house then you are into the rental market which is more fuked than the buyers market.

The frothiest part of the market in the 905 might see some retraction but a roll back on pricing to 2015 level prices is a pipe dream.

Everybody sort of accepts that JT is not the brightest bulb, but assumes that he is surrounded by smart people like the Harvard/Oxford educated Chrystia Freeland (Deputy Prime Minister and Minister of Finance). Given that her Ukrainian grandfather was a Nazi collaborator during WW2 (and she got **** for it in Canadian media), I have no idea how she missed this.

How were any people in these liberal strongholds convinced there were smart people in the background? Is Gerry Butts coming to save you? Look at the last 36 months.

- Canadian money printers have been burning ink faster than anywhere else in the world, 'transitory inflation' that will go away because of reasons stayed, and real numbers people are experiencing is 30%+.

- We put the pedal down on immigration two years ago, and have cranked it up to 1M a year. We're building houses and creating jobs way slower than that, so its causing obvious upward pressure on housing and obvious downward pressure on wages.

- We've had an escalating carbon tax that just went up again. Everything from home heating/gasoline/diesel/power generation is all skyrocketing so we can save the world. Its also a magic system where the government will give you rebates where you actually make more money back so its win-win-win.

- Our weakening economy is tanking Forex with the USD, so anything we import is getting more expensive. We also import everything because the only real industry we have here is selling our houses back and forth to each other with all the money the government printed. Any attempt at development that would support export or manufacturing or affordable homes has been intentionally kneecapped.

Short answer is people bought the story, voted for it, and are now experiencing the consequences of their actions.

[friesbruh]

brootal

[Destor]

Just under a million in Alberta bought me an estate acreage built in 2019 next to a golf course right on the edge of a major city

Dunno I think life in Alberta is pretty damn sweet, the only appeal of Toronto/Vancouver is access to benefits that come with even crazier population density like more and better restaurants

[WetCoaster]

Brb most of sask and ab farmland was /isukraines. Back 100 years ago , you were given 100+ acres of land for free as long as you farmed it.


Brb now farmers are forgetten and burdened with carbon taxes and soon to be fertalizer tax.



Welcome to canadas liberal wonderland.

I believe it was 160 acres for $10.

My dad grew up in the late 20's/early 30's in Sask on the family farm. His family came from Norway. He said there were lots of Ukrainian farmers and they were some of the hardest working and best people around.


Generally speaking, there were three waves of Ukrainian settlers to Canada and Saskatchewan. The first immigrants arrived in the 1890’s and were predominantly from the area of western Ukraine known as Halychyna or Galicia. The first recorded Ukrainian settlement in Saskatchewan was at Grenfell. The settlers who chose to live in Saskatchewan initially located in the northern parkland areas around Fish Creek (Rosthern), and later spread to Hafford and Krydor. This was a relatively homogeneous group, most of whom were peasant farmers. The northern parkland area was selected because it provided three essential natural resources: (a) wood which was needed not only as a construction material but also as a source of fuel; (b) water suitable for human and animal consumption; and (c) land suitable for agriculture. This wave of settlement ended in 1914 with the outbreak of World War I. At this time, there were about 125,000 Ukrainians living in Canada.

After World War I, a second wave of immigrants came to Canada and Saskatchewan between 1924 and 1929. This group differed from the first wave of immigrants, comprised largely of farm labourers, domestics, political refugees and members of the Ukrainian army which had been fighting against Poland and the Russian Communists.
By 1931, there were 225,000 Ukrainians in Canada.

The third wave of immigration took place after World War II in the years from 1947 to 1952. These settlers were mostly displaced persons, many of whom had been taken from homes in Ukraine to work as slave labourers in Germany. When the war ended they did not want to return to their homes because of the Soviet takeover of their country (Ukraine). These immigrants included skilled workers, professionals, scientists and musicians. This group for the most part tended to settle in the urban centres. The integration of this group into the Canadian mainstream was more rapid than that of the others because they were primarily urban people who quickly took advantage of the educational opportunities that were available.

A fourth and more recent movement of Ukrainians to Canada has occurred following Ukraine’s declaration of independence in 1991. In comparison to the first three waves, this group has thus far been numerically smaller than its predecessors. While immigrants from the first three waves tended to settle in homogeneous clusters, both urban and rural, the latest Ukrainian newcomers to Canada choose predominantly to live in urban centres. Generally speaking, they have not taken active roles in existing Canadian Ukrainian organizations but have, in many cases, formed their own, similar to what occurred following the arrival of the 3rd wave.

The major centre of Ukrainian population in Saskatchewan is located in the area which stretches westward from the Manitoba border to Saskatoon, and includes the Yorkton-Canora, Prince Albert and Regina regions. This area, known as the Parkland Belt, is where the first settlers to Saskatchewan located. However, there are Ukrainians located in practically every city and town in Saskatchewan. In the late 1930’s and early 1940’s, there was a major migration of Ukrainian people from southern and central Saskatchewan areas such as Ituna, Sheho, Wakaw and Cudworth to the northern areas near present-day Nipawin, Melfort, Gronlid, Brooksby, Prince Albert, Meath Park, Weirdale, Smeaton, Choiceland, Hudson Bay and Carrot River. According to the 2001 census, there were 121,740 Saskatchewan residents who reported having some Ukrainian origin. Ukrainians are the sixth largest ethnic group in Saskatchewan (ninth in Canada).

[CanuckGame]

it's never coming. imported 500K immigrants in 2022. there's less housing than people. that's why it'll never come.

Yeah okay.

How do you figure its not coming when average price of a home in the desirable areas are 1M+ and you must qualify for a 10% interest rate stress test.

The average canadian doesnt have a $100,000 down payment and can afford $6500/mo mortgage.

The correction can and WILL happen as soon as this winter.

[engj]

Just under a million in Alberta bought me an estate acreage built in 2019 next to a golf course right on the edge of a major city

Dunno I think life in Alberta is pretty damn sweet, the only appeal of Toronto/Vancouver is access to benefits that come with even crazier population density like more and better restaurants

Agreed but it's going to be under the same pressure as anywhere. The migration numbers tell you what you need about whats happening. For every 10 'new Canadians' pouring into the GTA and YVR there are 3-4 existing residents pulling up stakes and relocating. It blew out the Nova Scotia market, and New Brunswick, and BC interior, and the Island.

The blessing Alberta has is that the waterheads in the 905 who think Trudeau/Freeland have a plan are also convinced Alberta is such a hellhole that they stay put in their $800k Oakville studio.

Its like Stockholm Syndrome on a national political level, and I love it for them.

[Jasonw1178]

The thing is they know what's making housing prices rise, and it's wealthy people buying up all the property but they won't put a stop to it, instead they will try to raise taxes on everyone else. Canada see's that anyone should be able to own property there, even Chinese citizens who have never set foot on their soil.

[Girthquake505]

Yeah, but who the fuk wants to live in the Canadian prairie? There's a reason it's cheap, because it's some of the worst weather in the world and you're not close to anything.

True, however even the best of Canada has horrible weather. Toronto is similar to Detroit and Chicago, and Canada's Miami, Vancouver, is like Seattle. It's sad. Every day I thank God I wasn't born a Canadian.

[frankdtank20]

When will all of this crash? We've been hearing of a crash for 2+ years now.

Depends whether you're talking Canada or the US. There are different factors, different way the mortgage markets work. TBH I thought we'd have a bit of a crash last year in the US. Well we did (over 10%) but it was short-lived, with prices almost back up to peak prices this past summer. Both demand and supply are depressed by high mortgage rates, so it's a standoff that likely won't resolve soon unless a black swan event happens. The high rates will last through 2024 and truth be told nobody probably has a good idea what that will mean next summer. There are so many factors that can influence prices that it's mostly guessing what will happen more than a few months ahead.

[Staller432]

Canada has the largest Ukrainian population outside of the Ukraine and Russia

not only that, most are former nazi sympathizers, if not outright nazi's like the guy celebrated in parliament

[Staller432]

https://finance.yahoo.com/news/home-...cash%20outflow.

Canadacels on suicide watch. Currently sitting on the largest housing bubble ever seen in the world, with a declining economy.

it's not a bubble. the mistake people made, myself including, was using outdated metrics to determine prices.

the old model of a single or dual income family is dead. the new model is a combination of multi-multi generational families, a safe haven for foreign wealth, airbnb, international student housing. using these metrics there is zero chance prices will decline significantly. we are more likely to double again rather than decline by over 20%.

another big factor is Indians and Chinese will not default on their mortgage, unlike white people. property ownership is a big cultural thing with Indians and Chinese. Indians in particular will pick up another couple long haul truck shifts or Tim Hortons shift if need be, but they will not default.

the real estate = guaranteed wealth mindset is not even close to broken in Canada.

the closest Canada will come to selling will be through Canadian dollar devaluation. but even then, that'll just make it even more appealing for foreigners and less affordable for the common white man.

[Godfrd824]

Stop letting the Chinese foreigners buy all the properties. Simple fix really.

[Destor]

Existing home values probably won't collapse without a big uptick in unemployment IMO. Average wages in Canada are up like 20% since 2019. As long as people are working and bringing in money, they'll do everything possible to continue servicing their mortgages.

[suave2000]

Stop letting the Chinese foreigners buy all the properties. Simple fix really.

Stop being a fat dindu jogger piece of chit, Simple fix really.

[Polaris]

Stop being a fat dindu jogger piece of chit, Simple fix really.

How would that fix the Canadian real estate market?

[suave2000]

How would that fix the Canadian real estate market?

It wont. However that does not change the fact that Godfred is fat, ugly, retarded, annoiying, smug inbred, mulatto ass half ape dindu jogger piece of chit.

just stating the facts.

[benedetto27]

Them raising interests half-assed like they have isn't going to kill inflation like it did in the US in the 80s with Paul Volcker, it's just going to eat away at the middle class and the working poor even more because inflation will still be there. But they didn't want to crash the housing market because that is our main economic engine rn.

It's almost as if it's by design.

It's funny I remember so many articles about the "dutch disease" when Harper was PM and the oil industry was swimming, because apparently it was bad to put all your eggs in one basket, but the media never ran with this after Trudeau made housing our main industry.

[Sgt T-Man]

Meh, when it times for me to renew my mortgage in 1.5 years I will pay it off. Wasn't worth paying off at my 1.36 interest rate but if it 6-8% much more worth it.