/biz/ - Business & Finance

For reference, over a third of homes in Canada are variable rates.

https://www.theglobeandmail.com/business/article-why-variable-rate-mortgages-could-have-a-double-whammy-effect-on-the/

https://financialpost.com/real-estate/mortgages/canadian-home-buyers-pile-into-variable-loans-blunting-impact-of-rising-fixed-rates

Do actual Canadians even buy Canadian homes? I was under the impression that the chinks had bought everything up.

>>49727218

image posting this and not realising housing demand is at an all time high...

your interest rates will mean a few more houses pop us yes.....but demand exceeds supply by like 20-1 right now.....so it means fuck all

bl wagie, enjoy renting

>>49727218
As a Canadian Right winger and gun guy.
Good, fuck those city niggers, I hope some paki burns their shit down.
Only Right wing Canadians want to live in Canada.

>>49727284
Large investors like Blackrock and other funds would like you to believe that.

Just to distract you and move the blame to your neighbour.

But this did make me LOL. I like.

>>49727284
>I was under the impression that the chinks had bought everything up.
Stop going on pol for all your information about the work.
The chinks come to Canada, realize it sucks for anything else that isnt smoking drugs and hunting/skidooing and the pack their shit and leave.
Good I say, stay out.

>>49727296
The 'investment' Chads with over 60 rental properties will fucking perish and I will laugh.

They are so over-leveraged, that they're too stupid to realize that a 5% interest rate in 5 months will ruin them for life.

>>49727366
I don't fucking blame them....

>>49727284
In Vancouver some crazy percentage of houses were empty because they were bought by chinkoid bug creatures

wait wait wait....so what you are telling me is that (((they))) can increase your mortgage rate? I know contracts are susceptible to change but holy shit 45 percent is a crap ton.

>>49727218
>that pic
this makes me rock hard like you wouldn't believe

>>49727284
buying a house is a boomer thing

>>49727218
>implying thats a bad new

Alot of poor people should not own 700k house

I guess everyone is just going to ignore the fact baby boomers actually control most the real estate? And most municipalities are crippled by NIMBYism. E.g., Hamilton just voted down a law to expand high density zoning to farm lands because they tricked a bunch of wokewhite progressives into thinking they were saving the climate, when deep down they knew they were protecting there home values.

You can doom and gloom about leaf lnd all you want, but the housing affordability crisis here is fundamentally a constrained supply issue. And again, Canada is a top 5 producer of pretty much every major resource in the world, and believe it or not has heavy manufacturing and advanced nuclear engineering, nevermind all the food and water.

Canada is a paradise of mediocrity.

>>49727892
I fucking love BOBO

>>49728053
LOL imagine thinking that developing Farm land or the green belt is an ideal decision during climate change or food shortages.

Blame it on "Muh Progressives" is a sad and easy cop out.

Good. $1m dollar homes in shitholes is unsustainable, and pushes locals out. Those who bought thinking that Work From Home will be permanent is retarded, and deserve the commuting hell that they will get. Good luck trying to sell the home when you have negative equity.

>>49728138
LOL IMAGINE QUITTING YOUR JOB BECAUSE YOU CANT WORK FROM HOME.

Fucking retards deserve it.

how fucked are rentoids in Canada? I just hope my dumb ex struggles

>>49728136
Hey esl, I couldn’t understand wtf you were trying to spew.

>>49728222
You should think about finishing your highschool diploma then, retard.

Not enough retard wranglers at your highschool?

>>49727366
>Kvetch

>>49728174
Pretty fucked. Rent has skyrocketed in cities, so people move to smaller cities/towns, driving up rent. If you're a blue collar worker living paycheck to paycheck, you're absolutely fucked.

>>49727218
rentchads, we won

>>49727329
>>49727366
Fuck off Chang.

>>49728273
bwahahahahah esl defiantly spotted. I finished college and uni, I have the same shitty worthless degree as you. But the difference is I’m whiter, taller and handsome.

>>49727218
That guy's name is a 4chan meme come alive

>>49728273
stay in your 3rd world country and keep your opinions there with you, thanks

>>49727762
I think because it's either 5 year fixed or variable. If variable you're fucked right away, if fixed, then in 5 years when you need to renew, you will be triple fucked because so will everyone else, and the market will crash

>>49728273
hello sanjey

>>49728174
Ppl who rent out have it fully paid so no one cares.

Also a renting nigger who doesnt want/cant afford to pay can stand his ground and can take 6+ months to evict due to "muh rights"

>>49727218
Houses can not go down. Buy now or be priced out forever! (seriously, please buy now)

>>49728350
>>49728396
>>49728357
Found the PPC voters who actually thought they could get a seat.

How does it feel having to work in the trades for the rest of your lives because you were too retarded to go to community college?

>>49727762
Variable is right there in the name of the mortgage that is adjusted with interest rates, aka a variable rate mortgage. You can easily convert it, or simply start, with a fixed rate mortgage over a set ammortization period (usually 4 - 5 years, but they do go as high as 10 years). 30 year fixed rate mortgages are hard (but not impossible) to come by in leaf land.

>>49728434
Pajeet, your degree mill degree means nothing. I’m smarter, whiter, taller, and handsomer when people compare our physiques. Go pray to your cow shit or something.

>>49727411
The investment chads will pass on the costs to the peasant class, housing is not going to lose its intrinsic value, and you will pay your rent or live in the street.

>>49727366
I grew up in Vancouver. You’re a liar. The city is majority Asian now, up from approximately 0% a few decades ago, so some of them must be staying.

>>49728480
>30 year fixed rate mortgages are hard (but not impossible)

I've never seen a bank sell 30 year mortgage rates ever. The max I've seen was 10 years, and interest rates hover around the 8-12% mark. Are you talking about private lending?

>>49728581
Lol im white with a masters.

See you on the sunburnt farms, Tanner.

>>49728600
Ya, sorry, wasn't trying to be pedantic, but 30 year mortgages through secondary lenders are possible. But yes, none of the major banks offer anything past 10 years. With that being said, it's not right now that the market will crash, it's in 3-5 years when everyone has to refinance their mortgage at 20% interest rates.

>>49728587
some of the new money will die and when they flounder it gets me happy. there was an article of a person who "owned" 30 homes in the GTA who spent like 50k$? or claimed to? hes going to get hit the most when half of his renters are going to band together and refuse to pay his overleveraged mess

>>49728600
I would say the standard is a 5 yrr fixed till amortization 4-5%, never heard of a 30yr fixed rate either. Seems like a retarded thing to do from a lender perspective

>>49728650
>I’m white
Sirs
>masters
So I can easily get one as well. You aren’t impressing anyone Rajcheev.

>>49728842

Have to have a highschool diploma to get in.

Sorry bud, you're too retarded.

Maybe keep watching some gay porn in your RAM truck.

>>49727329
Retard. I have lots of Chinese friends who literally stay in mansions for free since Chinese investors want to keep people in their investment properties so that they don’t have to pay the “empty homes tax”, they just find Chinese guys in Vancouver and let them stay for free. It’s not fucking black rock buying up all the Vancouver homes.

>>49727284
Boomers would have you believe there is infinite foreign capital to buy their frozen shithole property.

>>49728884
I already finished college and uni, manpreet. Getting into a masters program isn’t that difficult in Cucknada if the degree isn’t in stem.

>>49728908
I used to party with some japanese guys who did this
>Dad has a few houses
>Rents them out to the coworkers' kids and friends
>Everyone is happy

>>49727327
Leaf fag here too. I hope housing goes down holy fuck i just want trudeau to die already

>>49728968
Anyone can finish college, Jake.

Not everyone can get a Masters.

How's it stroking it to Trudeau every night? Much have a flag somewhere that says you wanna fuck him, right?

Kike

>>49728136
The climate changes make Canada more habitable, retard.

>>49729027
imagine being this fucking retarded and having this much brain rot.

>>49728171
Wfh is here to stay, but only for those at the top.

>>49729056
It's true.

>>49729013
>Not everyone can get a Masters.
Loads are going to get masters retard. You’re another poor pajeet begging people to buy his shitcoins. You will never own a home, you will never have roots here lol

>>49727491
Just like in Auckland New Zealand

>>49729041
You're fucking retarded. Of all the countries in the world that get impacted by climate change, Canada, Russia, and may be Saudi Arabia are projected to have the greatest benefits. It's fucking common sense that a huge portion of Canada is permafrost that gets freed up for growing if temperatures rise.
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0228305

Good riddance. Housing only goes up eh, let's find out.

i'm about to buy a small starter family home in a small town. when is the bottom and should i wait for it?

>>49729013
I'm pretty sure you just have to pay tuition and show up to complete a masters. And paying tuition is definitely the most important part

>>49729138
Except the Polar Bears die if that happens.

>>49729222
boo fucking hoo, the spend the majority of their time at sea anyway

>>49729222
Damn.

>>49729114

Imagine being this fragile.

You're prob a balding faggot who has to wear a hat 24/7 because he's too much a pussy.

Too bad you have to live on the farms your whole life. Having to fuck your cousin all the time must get boring.

>>49729215
This. Having gone to both university and college, they quality of students at both was shockingly bad. Half are pajeets who barely know how to tie their shoes and yet they all graduate, having a piece of paper saying you went to school is nothing to be proud of.

>>49729199
You need to wait a few months for people to get desperate. If the interest sinks people because they can't pay their mortgages anymore, they'll liquidate all of their real estate.

>>49727218
>i can afford a house now
>get to buy it from a nice chinese couple who are now destitute and will still be a million in debt to the bank after the sale
feels great!

>>49728587
>and you will pay your rent or live in the street.
when enough people live in the street is when the next level begins

Living with parents Chads, we just keep winning

>>49729370
Yeah that's when podliving and bugeating starts.

>>49729041
Can you not connect the most obvious fucking dots? The entire country is a fucking frozen wasteland that will become habitable, and the arctic passage will open up, becoming the shortest path from Europe to Asia. Canada will benefit like crazy from global warming.

>>49729353
I’m looking to buy in Vancouver and it looks like the housing prices have continued to rise (slightly) since interest rates went up. Will prices start to go down eventually or is Vancouver just fucked because of the number of foreign investors buying property?

>>49729573

Your brain is obviously too small to comprehend the consequences of that happening.

I'm not saying it won't. I'm saying that when it does, it won't be the fantasy land you're thinking of.

>>49729668
Why buy now? Do you honestly not see the impending crash on the horizon?

>>49727218
That’s what they get for not kicking Trudeau out of office.

>>49727218
***A FRIENDLY REMINDER TO THE RETARDS IN THIS THREAD***

20% of Canada's economy is its real estate market, its sold listings. If Canada's real estate market nosedives 20% of Canada's economy is at risk and the contagion will wipe out the rest.

>>49729699
>Your brain is obviously too small to comprehend the consequences of that happening.
What are you expecting to happen? southeast asians to declare war and invade Canada? The whole country to be flooded?

>>49728587
How the fuck do you think leverage works idiot? You can't pass on costs when suddenly you'd need to 10x your rental income to pay back the five other investors and the balloon payment. Fuck me you probably don't even know what a balloon payment is why am I bothering.

>>49727218
i prey everyone of these "investors" in real estate dies a slow and painful death.

>>49729789

How about crops being destroyed by drought. Fires literally burning down cities every summer like in BC. Floodings from storms, ocean levels rising and rivers swelling.

Do you think people can just pack up and leave on a split second?

>>49729331
I was born in New New Delhi (Toronto). Not balding, white, tall, and ive defiantly mogged all pajeets that witnessed me.

>>49729921

HAHAHAHA Actually born in a fucking shit hole.

Dude prob watches Stanger Things every day and obsesses over "the good old days."

You can't be helped. You'll be left out of society for being a sad, quiet white guy. You'll die alone or be forced to marry a non-white faggot out of loneiness.

You'll be wiped out of existence and I'll be laughing all the way.

>thinking the Canadian house market will crash in 2025
No, it'll be within the next two years as the dominoes begin to tumble forward and wipe out the car bubble, international school bubble and foreign investors who are too scared to set foot here as we wedge closer to an Orwellian nightmare.

>>49730060
Jugdeesh, I will still die white unlike you.

>>49729767
>owns zero Canadian assets
Please happen.

>>49727218

great, now make it happen in atlanta. prices have not budged in the least outside tiny little price cuts here and there.

More cheapies

>>49728594
Vancouver isn't all of Canada.

>from approximately 0% a few decades ago,
Bullshit.
>In 1992 Vancouver had the second largest Chinese population outside of China, with San Francisco having the largest such population.[35]

>>49727284
This and the other replies are buthurt bugs

>>49727284
In VC its literal chinkville and a few of the other cities but everywhere else is fine

>>49729900
Short term any climate changes are bad because all industries and infrastructure have to adapt. You have to think long term. Long term, there is just far more habitable land, more rainfall, and the northern passage opens up.

>>49730250
I think there was always some here due to building the railroad. They used to live in Chinatown but now most are in Richmond

>>49727366
Chang you need to go back

>>49727218
In BC they won't let people raise the rent on their basement despite any increases in inflation. It's how the NDP 'works'. As a result, evictions and initial rent prices will continue to increase sharply.

long SRS

the Chinks literally ruined Vancouver

when ever you go anywhere there are no smiles just cold looks. The only reason I am here is because of my yellow fever.

>>49730512
You must hapazize that city

Van life sounds pretty good desu

>>49730563

no way man. I just bang azens. Lots of koreans, chinks and japs

If I ever have kids it will be with a white women to keep it pure.

>>49730617
Where do you get chicks at, you're right nobody will even look at you here

>>49730174
>BasketballRock geniuses continue to expand their housing bag even now that we are but months away from a long ass recession that will crash the market
Do they think the Government will bail them out or what?

>>49730662
Was that written in 2016??

>>49730727
No, they'll just import a billion climate refugees and stuff 20 of them into each house.

>>49727284
no you're thinking of Australia

>>49730662
I don’t understand this and there’s too many words

>>49730662

>>49727366
He's not actually wrong though, but he's talking about real estate purchased in cities in the last 4 years or so being mostly chinese purchases. Not most of the market obviously but most of the volume.

>>49728053
Canada is paid for by oil revenue. Every step america takes towards green and electric it saps canada's future away.

>>49727218
that motherfuckers name is longer than any mortgage

>>49729222
>>49729222
>>49729289
>>49729294
Polar bear populations are actually getting so large they're actually becoming a problem to people, and when you bring it up people claim it's because they have no more ice to stand on or whatever, which is just false.

>>49731504
Meant to post pic related

>>49731504
ENEMY ATTACK POLAR BEAR INBOUND

>>49727271
Absolute retards. I'm American and don't know a single person with a variable rate. Didn't even know it was an option, my bank never mentioned the possibility when I bought my house. It was just assumed that I wanted fixed rate and I'm glad for that. What the hell is wrong with canada

>>49727271
>https://financialpost.com/real-estate/mortgages/canadian-home-buyers-pile-into-variable-loans-blunting-impact-of-rising-fixed-rates
Jesus christ, I never would have expected THAT many people have a variable rate. that is actual insanity

>>49732037
>What the hell is wrong with canada
It's quite literally impossible to afford a house with a fixed rate in Canada. When I got my mortgage, the variable rate was 1.5% and the 5 year fixed rate was 4%.

>>49732134
Some countries don't even allow fixed rate mortgages, I think Australia might be one of them.

based castreau accelerating the day of the rake
https://xchain.io/asset/PEPECASTREAU

>>49727284
Vancouver yeah. Jeets bought out Burnaby and up to Most of Western AB like Calgary. Manitoba and Sask are still being bought out but Yukon is a wildcard.

>>49727284
I've long since given up. It's just not gonna happen.

>>49728961
>frozen shithole
41 degC with Humidex in Toronto today.

No idea what that is in freetard units, like 150 I guess? lol.

>>49727366
Absolute smoothbrain potato. High-ranking CCP chinks and Russian oligarchs launder their money through western real-estate, particularly in cities like Sydney, Vancouver, Toronto, San Francisco and London. They don't even need to be in the country. One big reason for the cooling off of the housing market is sanctions on Russian billionaires.

>>49733190
>Not grasping he's referring to the rest of the country where worthless property is still hilariously overpriced

>>49728053
Good, cookie cutter soulless Mattamy homes are fucking cancer.

>>49727218
Fake news, I looked for homes last weekend and the open house was jam packed, plus a few others closed their open house prematurely because they got straight cash offer.

>>49727296
>but demand exceeds supply by like 20-1 right now
nice source faggot

>>49732346

I rent an apartment in the same place i bought....I pay $850 for rent for a furnished 1 bdrm right by a lake in a major tourist city...The one I own, I rent for $1400...I paid 190K in Jul and it is now worth over 300K.....They are also building 2, 6 storey developments across the street and making the lake front a major tourism hub...Am I winning? I feel way better about the decision that what my ex recommended which was buying a house, stretching myself thing and renting out rooms...

>>49732037
We're at 11% of new mortgages being ARMs at the moment, which is as high as it was in 2008. You wouldn't guess it, but yeah we are a group of fucking geniuses in USA.

>>49727218
This is actually quite bad, 25% of Canada's GDP is related to the housing market in some form.

>>49727296
10% of all homes in Canada are empty. Been that way for years.

There's no lack of supply lol

>>49732945

they bought surrey not burnaby lol.....the jeets buy a lot of farm land in bc which is smart

>>49727218
My retard friend got engaged half a year ago and his fiancee talked him into buying a 2 MILLION house. Nigga straight up caved to pussy and bought the top. KEK I told him what was gonna happen.

>>49732037
I think fixed rates are mostly an american thing. For example in most euro countries you can get a fixed rated for maybe the first 5 years and then it switches to variable. Or you only get variable rates as the only option. They don't call them yuropoors for nothing.

>>49728136
There are a lot of mentally retarded posters in this thread but damn

>>49727218
>be Canada
>90% of your economy is chinamen buying shit up
>start stealing foreign property along with US
>indicate that you're open to stealing Chinese property if Taiwan is invaded
>Chinamen don't consider your property a safe investment anymore
>90% of your economy goes poof
Huh

>>49732267
We can fix for a max of 5 years, though at the moment you'll be paying 5%. 9 Months ago it was around 1.8% kek

>>49727218
God I wish that was me. Houses in the outer suburbs of Hellbourne are still inflated 200k above what they were in 2019. I want to die.

>>49730060
bitch lasagna

>>49728136
lol farmland is invaluable you absolute numpty

>>49736933
Yeah same here in NZ. Fuck imagine being able to get a 30 year fixed rate in the last decade. GenX had it good.

I probably bought at the peak here, but have a steady job.

>>49729900
lmao the fires are caused by insane people literally trying to cause chaos . like 95% of fires which cause property damage in BC last year were human caused , intentionally . the maple syrup niggers finally caught someone recently but most get away

It's hilarious how those fucking parasites real estate agents are now pushing the sellers to dump lower and lower just to keep to sucking out any commission

>>49736814
Italy here, fixed rate are normal even long-term, up to 30 years

>>49732037
How many of them got a additonal heloc on the house though? Those are variable and will fuck everybody

>>49727411
>The 'investment' Chads with over 60 rental properties will fucking perish and I will laugh.
You mean the people that control the goverment?

It's like hoping your boss goes bankrupt expecting you to own the company afterwards
Hint: They will fuck you plebes up before losing a single cent

>>49728594
Just watched the whole interview, it’s hard to believe that someone who’s opinions are such drivvel is in charge of such a big company. Does he just say this stuff to keep the goyim in an illusion?

>>49730662
If there's hyperinflation then house prices (and all assets) will go up in nominal terms. This fucking potato thinks we're gonna get both hyperinflation and 90% housing market crash? It's one or the fucking other at most

>>49737952
>middle-class mental midgets who are leveraged up to their eye balls control the government

Retard

>Variable rate mortage.
Why do people take these?
If your going to DebtMaxx, you might as well lock it in with the lowest interest rate available at the time.

>>49727271
AHAHAHAHAHAHAHA These smug leaf fucks are THIS retarded??? AHAHAHAHAAHAHA

>>49727218
Canadian home owners didn't give a shit about those priced out.
I hope the fed hikes rates until every Canadian feels the squeeze. Greedy bastards.

>>49729573
>Canada will benefit like crazy from global warming.
For a while, but the cost of imports will go up due to global shortages. And then the diseases and storms will catch up to you too.

>>49728174
it's fucked, these fucking boomers own all the real estate and they're raising rent everywhere

literally $2000/month for a 1 bedroom bachelor apartment in the middle of fucking nowhere rural shit-hole in labrador

it's fucking OVER

>>49739684
The currency will hyperinflate so the prices will go up very fast, but the price of physical precious metals will go up even faster.
It will look like the value of houses crashes 90% in terms of gold/silver.
Something similar happened in the '70s.
Very likely to happen again if enough people do now a bank run on physical silver.

>>49727218
good. crash real estate crash stockmarket. -90% is what this economy needs. b-b-b-b-b-b-b-ut muh indigeneuos people , muh chinkniggerz and muh niggerz! what about these ' canadians' ??? this is why you canadians will be bankrupted. because of niggers, literally and your whore wife voted for it

>>49727284
In the Toronto area it's majority boomers buying investment properties to make money.
Even Vancouver is the same. Foreign buyers exist but they make up 20% of sales, not the majority.

Does anyone have any books that cover real estate during the 1970s or, put differently, how people made their fortunate in an economic environment similar to ours?

>>49728296

>>49743330
I think it will be more like the 30s but worse because of multiculturalism

>>49727411
No, they will just raise their rent.

>>49728377
>if fixed, then in 5 years when you need to renew
I hate jews so fucking much bros.

>>49728349
Do they not have fixed rate mortgages in Canada?

>>49743507
5 years MAX for a fixed rate mortgage.

>>49727218
>the bubble is finally bursting
Renties bros we are literally going home

>>49727296
Cope and seethe

Housing isnt going anywhere.
>Be Canada
>population is 32 million
>Diversity is their strength, so let in 200k immigrants a year
>there is not enough housing supply or houses being constructed to meet the numbers of niggigrants
>price go up until this changes


>>49743507
they do but retards dont get them

>>49743507
it's pretty much just 5 years max.

>>49727218

Bought a 2B2B 1 Parking penthouse condo in Toronto for ~$800K on variable with an amazing unblocked view at least. How fucked am I?

Work in finance at a F100 company for a couple years now so I think my role is pretty recession proof.

bussy

>>49743751
Whyd you go variable?

>>49727218
We bought in a local market dip in November (no mortgage) and our neighbours came in at 100k over asking with variable rate mortgage. They are basic nice people and I feel so bad for them.

But just watch OP, the government is going to offer a scheme where the government will start to take over equity in your home if you are going underwater. It is going to be one of those classic "we'll seem nice to you but fuck you over in the long run".

>>49728908
It's an odd situation given foreign property is about the only thing they can actually invest in under the CCP.

>>49727218
The problem is most homebuyers are on a 5 year fixed mortgage rate so interest rates are not going to collapse the market unless they stay bad for 5 years

>>49743946

Because I'm a retard, it was much higher if I went fixed obviously. I don't mind paying a little less to principle if it goes higher I'm planning to pay max 15% per year lump sum for the 5 years and just finish it when I renew the term.

>>49728587
Unfortunately this. My apartment complex shithole’s original owner went under and all it did was cause it to be bought by some other whale and rent goes up.

>>49743534
>5 years MAX for a fixed rate mortgage.
This is the key thing. A typical Canadian mortgage is 30 years amortization but the terms are 5 years long. Every 5 years you have to either remortgage or pay it off in full.

So basically even if you get a 'fixed rate' you are actually still going to have 5 mortgage rate changes during its life.

In other words, we can say that every year, 1/6th of all mortgages are getting renewed.

>>49743608
The houses are absurdly expensive though. You can have a billion immigrants without a single person who can afford those houses.

>base your economy around importing 200k subhumans every year and selling them real estate
a literal ponzi scheme lmao

>>49745063
>only 200k
I wish

>>49744084
>thought short term instead of long term
>complains
i can tell you are black or some other non white.
Did you also know that if you use your credit card, instead of paying $500 for that thing, you can spend $10 a month?!??! its FREE money!

>>49729699
All the Jewish controlled and nigger/chink infested coastal cities get btfo from seal even rise and white farmers/land owners get more power. As a consequence to the global warming, seems pretty awesome to me

>>49727218
You remember you will own nothing and will be happy, raising property value and blackrock buying and tax to heritance is a hell combination

>>49737124
Yep, Indians caused the 2017 fires in bc, in 2021 it was probably Indians also. In California in 2021 it was glowniggers, there is pics online of a bunch of fires just 20 feet off a highway, it’s so obvious that lazy feds started those instead of starting deeper in the woods. The globohomo kikes incharge if the climate change agenda needs to fear monger the population with false flag propaganda to get everyone to go along with their dystopian climate change initiatives.

>>49744432
In LEAFland you have hundreds of thousands of chinese coming in.
they go to Van and Toronto and get their kids lamborghinis because they are rich factory owners in china and hide there money in canada.
Same with india. You have people who own companies and then they come to canada with lots of money.

I was talking to some immigrant filipino guy at work who was bragging about having bought a million dollar house or so in the winter at (very likely variable) rate of 1.1% (prob lying but who knows). I told him they were going to raise interest rates soon to curb inflation and he bushed that off as something that would never happen because it'd hurt the housing market.

Now mortgage rates are approaching 6%

>>49727218
Oh no no no no no

Can't wait to buy a comfy rural house from some malding cuck that FOMOed

Feels FUCKING good man

>>49745063
i cant wait for this whole ponzi to collapse. All this real estate financial shit going on in canada needs to be swept away and the economy totally collapse. Canada is a country rich in resources and would be fine but we have too many people trying to game this real estate market. it's mental how saturated it is

what even is the canadian economy
they don't produce anything, they stopped mining and oil extraction, they have no notable professional services like finance, they have no media production companies, they're not an offshore haven for rich people
what the fuck is keeping canada afloat

>>49748946
It subsists off of selling 15x overpriced real estate and shoving endless Third Worlders into the country.

OP is a disingenuous idiot and wrong, obviously. I want all my White Canabros to own property, but OP is misleading you. Although property sales are slower than expected in May, the average urban property increased 2.33% in May alone.
>https://housepriceindex.ca/2022/06/may2022/
https://housepriceindex.ca/2022/06/may2022/
>https://housepriceindex.ca/2022/06/may2022/
Op is a fucking retard spreading FUD and misinformation.

>>49727271
>For reference, over a third of homes in Canada are variable rates.

>>49749140
unsustainable

>>49727296
Demand is at an all time high for affordable houses, anon. There's actually a glut of supply.

>>49727762
Housing and building market is sustained by credits.

>>49743954
This, people don't understand Canada is much more of a nanny state, the government will actively intervene because the people will beg for it, in turn they will become more dependent and enslaved to that same government in the end. It's really just the human condition at the end of the day. People want a saviour or a messiah, something or someone to differ responsibility to. A crash will not happen like in the U.S. the government will put a floor on it in some way.

>>49748946
lol everything you wrote here is basically wrong you stupid faggot. real estate is definitely way too high in this chart but Canada is actually in a good situation vs many other western countries because its rich in land and natural resources

>Canada is the world’s second-largest country after Russia
>not enough space for affordable homes. Population: 38M.
Ok

>>49750581
Because most of our land is genuinely unlivable or there is no desire to go there and be frozen half the year and our zoning laws are complete shit.

t. Edmontonian who fucking hates half the year