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

[OliverHeldens]

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.

[Destor]

Housing should be affordable, but Ontario and BC areas would have a loooooong way to go

Then you flp to the Prairies and we have two of the most affordable metro areas in the world in terms of median house price as a multiple of median income. So you kinda have both extremes.

[baldbrah]

They can just import more Africans and Asians.

[OliverHeldens]

Housing should be affordable, but Ontario and BC areas would have a loooooong way to go

Then you flp to the Prairies and we have two of the most affordable metro areas in the world in terms of median house price as a multiple of median income. So you kinda have both extremes.

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.

[Itzblunted]

The declining economy is just the aftermath of trade shutdowns and business closures.


Wait until the peter and Sandusky inflation catches up

6 trillion dollars + was drawn from the reserve. Brutality is coming

[Destor]

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.

I don't know if that's the driver of house prices lol, there are plenty of pretty nice climates in the US where housing is affordable no?

Pretty sure it has more to do with stuff like permitting/construction, taxation, and where the economy generates its $$$

[plebmaximus]

They can just import more Africans and Asians.

fk off, that's offensive and racist


Canada only import stinky pajeets, no smell no visa

[OliverHeldens]

I don't know if that's the driver of house prices lol, there are plenty of pretty nice climates in the US where housing is affordable no?

Pretty sure it has more to do with stuff like permitting/construction, taxation, and where the economy generates its $$$

Yes, people will move to where jobs are. But generally there aren't going to be random people moving to these places. Nobody moves to the oilfields of North Dakota besides prostitutes and oilworkers.

[frankdtank20]

That 59% has to be people who bought in the last ~2 yrs, right? If it includes a fair amount of people from before then, good luck beavercels. Your crash will make China's look mild.

[OliverHeldens]

That 59% has to be people who bought in the last ~2 yrs, right? If it includes a fair amount of people from before then, good luck beavercels. Your crash will make China's look mild.

No. It's 59% of all homeowners in the 10 largest Canadian Urban areas. Canada doesn't have fixed mortgages, so there isn't as much benefit for longterm ownership.

[Destor]

Yes, people will move to where jobs are. But generally there aren't going to be random people moving to these places. Nobody moves to the oilfields of North Dakota besides prostitutes and oilworkers.

There are two cities in Alberta that each have more people in them than the entire population of North Dakota

Alberta's population is growing at like 4-5% every twelve months right now

[Jimbo0731]

It's called cheap money, money laundering asians, fraud, and really low lending standards on a massive scale. It all went into overdrive during the pandemic but was already a big problem before. Our government has turned a blind eye to all of it because our economy literally depends on the housing sector to keep it afloat. And now in desperation our government is importing the third world in record numbers, but despite it all GDP per capita has been faling for the last 3-4 quarters. We're in a recession despite low unemployment numbers what they'll report on. People are simply surviving by taking on more debt or working 3 jobs. Everyone up here feeling the pinch unless you're making 250k+ and even then if you have a big mortgage will be feeling it. The immigrants that actually have skills are leaving in record numbers and were only importing low skilled workers who regret it once they get here and see how expensive it is. Once the 2018-2020 mortgages come up for renewal in the following years is when chit is gonna hit the fan. For now everyone seems to be hoping they'll just drop the rates before they rope themselves with all this debt.

[Itzblunted]

Yes, people will move to where jobs are. But generally there aren't going to be random people moving to these places. Nobody moves to the oilfields of North Dakota besides prostitutes and oilworkers.

Is that where kristi noem governs?


Why you got some sweetheart deal going on or something?


Or the plans for some sweetheart deal?


I don’t remember which Dakota she’s in but you know?


Thing is getting out of dem covid territory is paramount

[OliverHeldens]

[QUOTE=Destor;1691003643]There are two cities in Alberta that each have more people in them than the entire population of North Dakota

Just because the Canadian Government is funneling immigrants to places doesn't mean the population is growing organically

[Schnitzl]

[Itzblunted]

Haha


I was just thinking about mustaches because if that’s ignorant


We’re talking about amazon and 100% right? But that’s just because bezos is the richest man in the world and it’s all about helping employees

[Destor]

[QUOTE=OliverHeldens;1691004123]

There are two cities in Alberta that each have more people in them than the entire population of North Dakota

Just because the Canadian Government is fullening immigrants to places doesn't mean the population is growing organically

International immigration is a big part, but we're also seeing record numbers of people coming here from other provinces

There is no shortage of people who want to be here and we have two massive cities, yet real estate is still very affordable in those massive cities especially as Alberta has very high incomes and low taxes relative to the rest of Canada.

[Zelensky]

Canada has nothing besides home values and because of that they won't let prices decline.

https://twitter.com/TrashRadio_/stat...76839525421056

[OliverHeldens]

[QUOTE=Destor;1691004493]

International immigration is a big part, but we're also seeing record numbers of people coming here from other provinces

There is no shortage of people who want to be here and we have two massive cities, yet real estate is still very affordable in those massive cities especially as Alberta has very high incomes and low taxes relative to the rest of Canada.

Lol! Saying Calgary and Edmonton are "massive" cities is akin to Ibby saying he receives "massive" bonus pay.

[Itzblunted]

It's called cheap money, money laundering asians, fraud, and really low lending standards on a massive scale. It all went into overdrive during the pandemic but was already a big problem before. Our government has turned a blind eye to all of it because our economy literally depends on the housing sector to keep it afloat. And now in desperation our government is importing the third world in record numbers, but despite it all GDP per capita has been faling for the last 3-4 quarters. We're in a recession despite low unemployment numbers what they'll report on. People are simply surviving by taking on more debt or working 3 jobs. Everyone up here feeling the pinch unless you're making 250k+ and even then if you have a big mortgage will be feeling it. The immigrants that actually have skills are leaving in record numbers and were only importing low skilled workers who regret it once they get here and see how expensive it is. Once the 2018-2020 mortgages come up for renewal in the following years is when chit is gonna hit the fan. For now everyone seems to be hoping they'll just drop the rates before they rope themselves with all this debt.

What are you talking about San Fran?

I heard people working at google as engineers were making 250,000+ and living in car

[WishIWasJawBrah]

Canada pledges C$650 million in Ukraine aid during Zelensky visit

https://www.france24.com/en/europe/2...aine-next-week

[Destor]

Canada pledges C$650 million in Ukraine aid during Zelensky visit

https://www.france24.com/en/europe/2...aine-next-week

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

[Itzblunted]

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

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


Huge if true

[naich]

INB4 canadians tie their house keys to beaver and walk off into the tundra.

[frankdtank20]

It's called cheap money, money laundering asians, fraud, and really low lending standards on a massive scale. It all went into overdrive during the pandemic but was already a big problem before. Our government has turned a blind eye to all of it because our economy literally depends on the housing sector to keep it afloat. And now in desperation our government is importing the third world in record numbers, but despite it all GDP per capita has been faling for the last 3-4 quarters. We're in a recession despite low unemployment numbers what they'll report on. People are simply surviving by taking on more debt or working 3 jobs. Everyone up here feeling the pinch unless you're making 250k+ and even then if you have a big mortgage will be feeling it. The immigrants that actually have skills are leaving in record numbers and were only importing low skilled workers who regret it once they get here and see how expensive it is. Once the 2018-2020 mortgages come up for renewal in the following years is when chit is gonna hit the fan. For now everyone seems to be hoping they'll just drop the rates before they rope themselves with all this debt.

Some similar things in the USA - GDP figures are slightly up year over year and unemployment is low, but Gross Domestic Income is down rather sharply. How could that be? The GDP is growing because of massive government spending and people are using credit. Hell, people are taking out HELOCs again at increasing rates. And to say the least we have a weeeee bit of an immigration problem, since it's probably 80% illegal right now. Strong priorities by our Failure in Chief.

[OffwhiteBrah]

imagine living in canada just imagine it

[TBO1313]

This is what they took from you Canadian bros

[Destor]

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

Huge if true

Early settlers started coming here in 1891 and we had 1million Ukrainians in the country by 1991, looking for opportunities and farmland.

[AVOJAMACADA]

Early settlers started coming here in 1891 and we had 1million Ukrainians in the country by 1991, looking for opportunities and farmland.

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.

[-=FLEX=-]

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.

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.