/biz/ - Business & Finance

>>6619923
brainlet here, explain the implications of higher interest on current housing market in canada?

What coin is this?

Gg no re.. I was reading that people can't even afford to pay their bills after this shit..

Leveraged 3x with a 2nd HELOC.. Gtfo! You got yourself into this mess.

>>6619923
50% of Canadians can't handle a $200 increase in their bills(Debt repayment)

>>6619958
I hope we have a huge market crash.
T. 23yo who is trying to buy a house

>>6619958
It means that families that have overextended themselves and pushed the limits of their credit may no longer be able to make their mortgage payments.

>>6620035
fuck sakes, my parents own a 200k house and are struggling to make ends meet. Why cant they only cuck those faggots in lower Canada?

HELOCs BTFO.

Toronto housing is already way down on last year.

The spread between townhouses and detached is less than 20% in Vancouver + you have to pay strata fees. The spread between condos and townhouses is still a few hundred thousand. Detached is stagnant because that market isn't falling for "scalping".

We're about to get raped when the speculation tax goes through and the chinks start selling.

>>6619958
The average HELOC is at 70,000. Our HELOC ratios are at 4 times the United States ratio. People here are using them for vacations and shit because they're used to houses going up 20% year on year.

But but.. Prime Minister pot is working for the m-mi-middle class! R-right?

>>6620035
40% of all mortgages come up for refinancing in 2018.

>>6619982
fuck off with yout shitcoins, this is a business thread nerds

How many of us are hoping that crypto goes another 6 months, Canadian housing crashes, and we can take some profits to buy the low?

>>6620187
The Prime Minister doesn't run the BAC.

>>6620221
no, you must go the BIz way, buy high sell low

>>6619982
no joke Bank of Canada released a whitepaper considering the use of a central bank crypto currency in november

>>6620187
please. fuck that Cuban

>>6620187
>>6620237

kek

Conservatives are really butt hurt.

>>6620285
LMAO. I'll close on February 19th then. Paint a wojak on my garage.

B A S E D

>>6619958
Higher interest means reduced saving and consequently reduced investment

>>6620290
That's so pointless.

>>6620383
I just wasn't sure if this was interest on money loaned to the average person, or interest the average person gets when they put money in the bank. I understand the economic implications of each scenario

>>6620460
Savings and interest rates are both going to increase.

>>6620460
Its the overnight rate. Consumer banks borrow from the Bank of Canada at this rate.

Prime rates, which are rates consumers pay also went up.

So don't buy a house in Vancouver right now? Got it.

>>6620587
no you filthy goyi....i mean nice future homeowner! We can offer you a very attractive rate! Plus with housing prices on the rise, you can always refinance if you run a little short!

>>6620587
Not unless you live in china

Anyone want to comment on if this bubble is going to burst or slowly deflate?

>Considering investing in a 3.5M hotel.

>Revenue 600K 2015, 650K 2016, 700k 2017

Full blown recession will obviously hurt, but if rates are held steady for the rest of 2018 this could be a great quick flip.

I locked in my interest rate using my nano ledger so im good.

>>6620917
Flipping property in 2018?

>>6620587
Not waiting until the provincial budget would be insane. A speculation tax could start it off. An empty homes tax salts the wound. Anything around proceeds of crime and money laundering adds on. Add in interest rate increases + mortgage renewals + HELOCs. It could get bad. It would be on the Feds to pump it.

If the budget is soft I expect it to go the other way. Condos climb and push up townhouses which kicks off another round of big gains for detached.

Serious reply now. What this means is that the prices of homes will lower, so when my coins moon and I buy a house in full ill get it cheaper.

>>6621017
We're gonna make it.

How many missed out due to listening to this guy?

I'm not even going to buy a house in Canada anymore. I'm just going to hop the border with my crypto gains and go on welfare in the States.

Make room, Americans.

>>6621017
No.

Houses in vancouver and toronto cost 2+million.

Most people buying houses here now are multi-millionaires from china/oil money middle east and just buy them in cash outright.

this doesnt effect anything

Locked in for 5 years at 2.39. Yea boy

>>6620454

If you read the paper you'd know they actually came to the same conclusion themselves, except for a few key uses... one of them being stability. The coins (named CBDC which they could option to decentralize or not) would be open to the general public, instead of major financial institutions as reserves are today. Now we get the 1.25% interest rate that the big banks get instead of their marked up loans.. cutting out the middleman

>tfw holding 400k in crypto and it's still not enough to buy a decent house in Toronto

>>6621098

Foreign ownership is meme pushed by racists conservatives. That shit peeked in 2014 when the dollar hit .60 against USD. Raising interest rates strengthens the dollar meaning less foreign ownership.

>>6619923
most boomers own their shit at this point

gen x cucks are btfo

>>6621328
buy 2 bedroom condos in highrise walking distance to pharamcies and grocery stores. Those are gonna be worth alot more when boomers end up in wheel chairs and cant get up the front steps of their house anymore.

>>6621328

>Go away Boomer

They still have to sell these houses they own on the open market.

>>6621308
Have you ever been to Vancouver? It isn't a meme. Half of Richmond shops have all text in Chinese.

>>6621579
this is because chinks are stupid and think that living on richmond street equates to living on rich man street. I shit you not.

>>6619923
>Canadians are so leveraged to absolute fuck, they can't handle 1.25% interest in their mortgage.
Just cuck my shit up senpai

>>6621579
You're replying to a chink in case you haven't noticed yet.

>>6621823
Kek, not Chinese and not dumb enough to live in Vancouver.
Dumb enough to live in BC thou

>>6619923
We can just bail everybody out right?

Where's the best place to live in Canada if you don't need a local job? I'm getting sick of fucking shithole Edmonton.

>>6622201
victoria.

>>6622182
Yeah Justin the tax rev from weed will pay it all off we're fine

>>6622182

I'm going to be pissed if the NDP fucks try to bail out all these cucks in the lower mainland at the expense of the rest of BC.

>>6619958
trying to cool the market. people who were approved at say 3.25% will now need to be approved at a higher rate. so if they were shopping for a house and they had a budget of $500k then it will now be lower. they need to be re-approved at the new rate. this will affect first time buyers the most. lots of people will be pushed down a tier in the market and the bottom gets the shit end of the stick

>>6622519
Think longer term. Entire market will shift down. People will only be able to buy what they can afford but everything will be cheaper.

>>6622201
Calgary.

Tfw 125k in cash and cant afford to buy here..Vancouver 1 bdrm apartment is 500k..

>>6622735
Seems a lot of muslims live there? What's that like?

>>6622607
exactly what i'm waiting on. i sold my house in 2014 when it was over valued and beat to shit by my tenants and i haven't bought back in yet. doing better on the sidelines by the looks of things by not buying last year.

>>6620312
The Liberal party is ruining this fucking country right now and fucks like you are the reason why. Trudeau has ZERO business running a country. Have you ever heard him talk? He talks in circles. He never says anything of substance because he is incapable of doing so.

He says he's working for the middle class. First thing he does is reverts Harper's TFSA increase. WHY? WHY WHY WHY? That was one of the only tools to *GUARANTEE* wealth in your retirement, and to move up the economic ladder.

Then they start changing the small business tax laws to FUCK OVER THE MIDDLE CLASS RUNNING SMALL BUSINESSES.

They have the fucking nerve to increase CPP deductions and claim they're doing it to force Canadians to "save more for their retirement", insinuating they'll pay out higher. WRONG. They're raiding the additional money coming into CPP to balance their fucking budget.

FUCK THE LIBERAL PARTY, FUCK JUSTIN TRUDEAU, AND FUCK YOU BRAINLET.

>>6621308
>>
sauce on photo?

>>6622761
Then don't live in shitty Vancouver. There's so many other places to move..PEI, Nova Scotia, part of New Brunswick are ok. Eastern Ontario is decent as is Hamilton. Interior BC is also a good time. Honestly figure out what kind of shit you like to do and then make pros and cons for each of those places. Don't fall for the Vancouver meme like other millennials

>>6623361
why the fuck would u live in those shithole places lol.There are only 3 places to live in Canada. Vancouve, Toronto, and montreal if u like living in buttfuck -25 degreeweather

>>6623495
Montreal lul

>>6621328
Unless the stupid old cunts went to buy more property and overextended themselves. I know countless who have, go I fucking hate boomers

>>6623201
>cuck harperite this upset that the liberals are stabilizing the PC's fuck ups
Hey pal with unemployment at a record low, home ownership up and weed coming soon how are you clowns ever going to win an election ever again?

>>6623495
>being this cucked

enjoy your shitty $2000 500 sqf apartment and never ending traffic. There are lots of good looking women in college towns / small cities with government or tech jobs. You don't have to commute far and there's /out/ stuff to do minutes away.

>>6622201
Why would I tell you?

>>6623785
there isnt actually much traffic at all in toronto and vancouver. also nobody would wanna live in Alberta or Saskatchewan or any other of those shithole provinces with a bunch o f peopletelling me how the liberal party is terribleand harper was the best.also its fucking cold, only white peoplelike tht shit

>>6624060
What are you talking about? Traffic in toronto sucks just like any major city.

t. torontonian

>>6624060
Alberta is far better than Ontario.

t. Albertan who lives in Southern Ontario now

Holy fuck you imbeciles, a few percent hike is fuck all in the grand scheme of people's payments, the just put it on mastercard and visa. All this means is new buyers for homes in Canada who would have qualified for a mortgage, would no longer qualify. Ie less buyers in the market, prices fall. Honestly think an increase of 1.5% on someone's 2000 a month payment is gonna kill them? It's goes up by 30 bucks a month big shit

>>6624334
>he thinks the BoC increase on bank interest rates is a direct increase on mortgage interest rates

>>6624060
Also the liberal party is terrible you twat. Open up your eyes and stop getting fed by what the socialist media gives you. Our country is FUCKED in the next 25 years.

When interest rates go up mortgage rates go up too. The first thing people pay is there home bills. First the cut out movies, then restaurants, the nice clothes, then they eat shit food, then they eat cereal three times a day. Then their aunts and uncles move in. Then they rent a room to some chinese student in the basement and then the key doesnt fit in the lock. It will affect the whole economy. Ever since Justin shook hands with soros we lost.

>Just sold my lower mainland condo for almost $500k.
>don’t get the check until Friday
>was going to put it all in crypto currency in the dip

>>6620071
>$200k house
lol how the fuck? thats closer to a car than an apartment poorfag
>>6623201
>>6620187
i dont like him either. But he isnt running the BoC and the BoC doesn't just do this to fuck you over retard.
>>6620221
I live in Vancouver so it will never truly crash.

>>6625062
>put $500k in crypto.
You retarded just put in $100k and you either moon or you dont. there is no safe middle play in crypto.

>>6619923
Does that mean I can get a cheap house once I make it

>>6623201
This man is wise. Everything he said is absolutely true. They call the Billionaire successful real estate agent a clown but they call the drama teacher a world class politician. At least there is someone on 4chan who I respect today.

>>6623495
Calgary is unironically better than Toronto but both are shit. Basically just Vancouver, Montreal and QC if you are a dirty frog.

>>6625243
if you arent taking out a loan I guess.

>>6622201
Vancouver
>>6622243
If you are over 60

>>6625221
But I hate my shitty job. I need enough to retire.

>>6619958
government created a housing bubble through central bank money creation

raising interest rate could pop the bubble

>>6620071
>fuck sakes, my parents own a 200k house and are struggling to make ends meet. Why cant they only cuck those faggots in lower Canada?
Fuck you.
They should raise interest rates to 50%.
Houses shouldn't be this expensive in the first place.

It's you faggots that are fucking over everyone else.

>>6625302
vancouver is too expensive to live and overrun with chinks

>>6623647
>home ownership up
Liberals are pieces of shit.
How is raising the price of housing going to help anyone except chink investors.
Fuck you and your bubble.

>he didn't lock in his interest rate before the announcement

We almost elected the perfect candidate bros.

We could have had a libertarian Canada.
The boomers and chinks would have been btfo for good and our generation would be able to have a booming economy for once.

But instead we got Jeb Bush.

>>6625905
>too expensive
Thats what happens when it is one of the best places to live in the world
>chinks
You get used to them Canada is pretty good at integration its an eclectic mix and its not like we have too many Muslims. Chinks are atheist.

>>6625980
kek i voted for him. But the stupid runoff election was rigged. He could have really used an econ lessen from Harper or something though. I was a bit worried about that. But fuck it, he could just give an old guard party guy finance.

>>6623495
have fun being surrounded by niggers

>>6623495
If Toronto is so good then why are all the immigrants in Calgary ex-Torontonians?

>>6621308

You obviously don't live in BC/Ontario, or you would see it's anything but a meme.

>>6626245
>BCfag here.
Its a meme.

Vote for Jagmeet Singh leafs

But I hate that even Muslims are on his side. Fuck islam

>>6626061
He literally almost won.
It would have made Canada fucking great, our economy would have been extremely powerful.

He was close friends with Ron Paul too.
Fuck this shit.

RREEEEEEEEEEEEEEEEEE

I met him in Edmonton too at a conference.

>>6626277
>Vote NDP
I dont hate my country that much anon.

>>6626325
He had way more votes than Schee rrbut the system was rigged. I bet half the literally who candidates ran just to get scheer voted through 2nd 3rd options.
That being said being buddies with Paul is bad. He has the economic know how of a toddler. Thankfully Canadian politics dictate Bernier be a moderate instead of some dumb ideologue caricature like yanks.

>>6626274

Vancouver is literally approaching 50% Asian, that's not including other minorities.

>>6619923
PLEASE crash the housing market based Trudeau so I can cash out my crypto gains and buy a house in vancouver

>>6626467
so? as long as its different types of asians they integrate well. Richmond ia a bit concentrated but meh. Besides Asian pussy mang.
>>6626494
Vancouver won't crash. It has physical constraints.

>>6626450
>That being said being buddies with Paul is bad. He has the economic know how of a toddler.
Delusional keynesian detected.
Man, you just read all of the propaganda don't you.

Why is Ron Paul's economics bad?
Why are central banks good?

>Canadian politics dictate Bernier be a moderate
Bernier talked shit about central banks and blamed the federal reserve for the financial crisis.
I'm pretty sure he would have been a radical and transformed the party, and that would have been a good thing.
He was already good on supply management.

>>6626467
>posting in a Canada thread
>not asian
I want Mortys to leave

>>6626548
>so? as long as its different types of asians they integrate well.
Integrate?
Man they're literally taking over?
English isn't even being spoken. They're going to be the majority in the second biggest Canadian city.
Does this not concern you?

>>6625980
I wanted him to win even though he has less of a chance of beating Trudeau than Scheer. Quebecers just can't tolerate not being gouged for milk.

>>6620917
Paying 7X revenue for a hotel.

Lmfao dude, you'll get BTFO

>>6626609
No cause I live here not memesville.
>>6626575
>GOLD IS MONEY
lmao dont worry anom you'll grow out of it after HS. Any argument woupd be above your head or futile
>HED TRANSFORM THE PARTY.
lol no Canada has had too much success under Neoliberalism to leave it.

>>6626673
Quebec sucks

they get free money from the other provinces and spend it all on bullshit and wonder why their economy sucks

god damn, socialism is fucking terrible

the government should cut 90% of spending and taxes right now

As a Canadian I have been shaking my head and warning my friends and family about this for 10 years. But since they have been getting shit rich on paper I must be stupid and they are all very smart geniuses.

How about we all get into as much debt as we possibly can, until we have the worst debt ratio of any country in the world. WHAT COULD GO WRONG?!

It's ok when you maxed your CC to buy bitcoin and your RRSP is filled with pot stocks that have doubled in six months.

Great Canadian financial sites:
http://www.greaterfool.ca/
http://www.rebgv.org/monthly-reports
http://canadiancouchpotato.com/category/behavioral-finance/

>>6626724
>>GOLD IS MONEY
Or cryptos are money.
Either way fiat currency is bullshit.
Why would you want your currency to constantly lose value?

>lmao dont worry anom you'll grow out of it after HS
alright I guess we're arguing on this shit now
Keynesian central bank economics is for kiddies that don't understand how basic economics works
you people don't even believe in supply and demand
>Any argument woupd be above your head or futile
I can guarantee you don't have anything except keynesian delusions that have been debunked already.

>lol no Canada has had too much success under Neoliberalism to leave it.
Neoliberalism isn't even a real thing.
What people call neoliberalism is actually a mix of corporate welfare and social democracy. It's sucks ass compared to a free market.
Switzerland and other freer market countries are doing much better.

>>6626836
Canadian housing market is a debt bubble created by the central bank.

>>6626902
Cryptos are fiat currency.

>>6627015
Debatable.

>>6626937
Government meddling is the issue. CMHC was a mistake.

>>6627104
Central bank shouldn't exist.

Cryptos will eventually destroy the central bank and it will be glorious.

>>6621097
>welfare
>land of "i got mine"
good luck

I can't wait for interest rate to rise more and crash this housing market. I got my 350k ready for a fat down on house once this market cools more

>>6627015
Fiat aint a problem if you have a functional democracy with a good military. That used to be USA, but now I guess people are seeing how silly they can get.

Hey let's cut taxes so the debt increases 1.5 trillion. No! We will shut down the government now, hurp durp.

Blockchain is an amazing technology, no doubt the future. Aside from a few libertarians who is going to accept my 37 billion dollars (in USD fiat) bitcoin?

>>6627186
Feels good to have enough cash to buy a decent house outright. I'm still looking at just using Interactive Brokers margin account for a cash withdraw, 3x margin, 2.2%? interest rate.

All you fags that are waiting for the dip to buy a house tells me this isn't a bubble that's going to pop. Prices will very slowly deflate over the next few years. Probably just back to 2014 lvls.

>>6626902

>Why would you want your currency to constantly lose value?
Induce spending, increase lowerbound on interest rates, correct sticky prices and sticky wages, increase velocity of money (kinda same as first)


>you people don't even believe in supply and demand
I do actually so did keynes. More than most. He was a hardcore parkour Capitalist who defended the fuck out of the Cobb Douglas production function btfoing marx. Do you even understand basics of his theory? what you misconstrue as "not believing in supply and demand" is really just you lacking understanding passed econ 103. Perfect competition almost never exists. market power and behaviour needs to be factored into models.

>I can guarantee you don't have anything except keynesian delusions that have been debunked already.
>debunked
By who? if you can give me a real academic to read up on I'll legit check them out
>Neoliberalism isn't even a real thing.
what? google it you fucking moron. It's literally been the many ideology of Canadian economic policy from Mulroney to predent
>What people call neoliberalism is actually a mix of corporate welfare and social democracy. It's sucks ass compared to a free market.
No. Neoliberalism is not "social democracy" we use policy to promote efficiency, stabiliry and total wealth increases. actual socialism is very different and does not like neoliberalism at all.
>Switzerland and other freer market countries are doing much better.
Switzerland is fairly neoliberal.

>>6626593
>tfw asian
>tfw barely know any chinese

>mfw I will be buying a house with cash from crypto gains during the housing correction

>>6627373
same but korean kek

Must be getting old as I don't have a beard or a man bun. Yet I remember when being in debt was frowned upon.

People actually used to save for things.

The average amount of credit card debt in Canada is $2,627. The average consumer debt (non-mortgage) of Canadians is $20,967. In BC it is over $40k.

>>6620586
Nice eyes damn

>>6627359
>>6626902
Should also mention economic freedom is good, So its hardly an argument to use against me.
I just get annoyed when dumbass teenagers say "HURR BUT THEY CAN PEINT MORE MONEY" or some dumbshit about the gold standard they weren't born to experience. I guess this is what ecologists get when people say "then why is it cold this winter!?" when confronted by climate skeptics.
At least I have decency to just say I know fuckall about climate science.

>>6626609
die whiteys die

>>6627548

Source for these numbers?

Ontario debt per capita is fking hilarious too

>>6623647
Home ownership up. Wow dude, it's almost like we've had historical low interest rates forever in order to stimulate the economy. And now they're going up and the market is going to cool. That happened during Harper, just FYI. You're a real economist.

Weed? Again, wow dude. Are you 12? Who gives a shit, weed is so easy to get here and no one really cares.

And if you think Trudeau is the reason for unemployment lows you're delusional.

>>6627243
USA was far better economically BEFORE the federal reserve.

>>6627359
>Induce spending
Spending isn't always a good thing.
Artificially low interest rates that cause less underconsumption and capital investment simply result in malinvestment and waste.
See the dot.com bubble and housing bubble.

>correct sticky prices and sticky wages
Another keynesian fairy tale.
https://mises.org/blog/slow-wage-growth-could-be-thanks-%E2%80%98sticky-wages%E2%80%99

>I do actually so did keynes.
No, both of you don't.
Man I debated with a keynesian here the other day that unironically believed that the capitalist dictates the wage of the worker and the labour market doesn't have anything to do with it.
Keynes wanted the state to put a price control on the interest rate.
If you believe in S/D you understand why price controls don't work.

>passed econ 103
Seeing how universities are filled with overpaid government subsidized pieces of shit that refuse to let anyone question their theories and get mad cash from central banks and bankers to spew their bullshit, I'd say econ 103 is mostly garbage.
Enjoy your SJW women's studies degree

>if you can give me a real academic to read up
Rothbard, who destroyed many of keynes' work. Robert Murphy is also good.

>google it
That's not an argument.
It is a meaningless fucking term created by leftists.
There's nothing new or "liberal" about the modern world.

>actual socialism
I never said it was actual socialism, just social democracy like demark or whatever, that mixed with corporate welfare.
In my opinion it's just leftist bullshit.
A real free market is far superior and has way more growth.

>Switzerland is fairly neoliberal.
No, they're economically free.
They have a central bank, yes, but they practice inflationism/keynesianism the least.

>>6626609

>English isn't even being spoken

I've lived in Vancouver my whole life, and I just have to say, who the fuck cares?

Minorities all speak their own languages. I live in an area with lots of Russians/Ukrainians and they all speak Russian. Would that worry you, or is it only Asians because they don't have white skin?

>>6625922
68.7% of Canadians are homeowners, the rising equity benefits a majority of Canadians genius.

>>6625142
What does my post have to do with the Bank of Canada? All three are federal government policies courtesy of JT's Liberal party.

>>6622243
My city

making 65k,

what's reasonable rent for me?
I was thinking of moving out for $1400 a month, my own place but i'm not sure if i should do that or just get a shared room in a house (probably 700 or 800 a month).

What do you guys think?

>>6626467
>>6626593
>>6627373
>>6626609
>>6627811
>>6626548


White girls are the worst. We need more Asians.

>>6627548
>Yet I remember when being in debt was frowned upon.
EXACTLY
It's central banking's fault everyone is in so much debt.
The government manipulates the fucking markets so savings is destroyed and debt is much easier.
They've been doing this for decades.
Wake up holy shit.

>>6627592
>>6627592
>I just get annoyed when dumbass teenagers say "HURR BUT THEY CAN PEINT MORE MONEY" or some dumbshit about the gold standard they weren't born to experience.
None of this is a fucking argument.
The economy was far better before the central bank in both USA and Canada.
Sweden too.
>buh muh panics
https://wiki.mises.org/wiki/Panics
These were all caused by government intervention in the banking center or by actual central banks.
Also if you support central banking, you are left wing on economics.

>>6627891
you have to tell us where you live and where you want to move. rents vary greatly. location is everything.

>>6625254
Our country is completely fucked. I don't like using the term cucked, but I honestly can't think of a term more fitting.

We have got to have the most uninformed voting population on Earth. It doesn't help the CBC is the propaganda arm of the Liberal party, paid for by Johnny Taxpayer.

I am at wit's end trying to reason with these soy fucks here.

>>6624060
Wtf? Traffic in the GTA is absolutely hell.

>>6627626
If you don't like it get the fuck out.
We don't come to your country and replace your people.

>>6627811
>who the fuck cares?
You don't care that Canada is destroyed and turned into something else entirely?
You don't care that communities are torn apart?
The more diversity in an area, the more seclusion.
Damn son.

>>6627928
sorry, so my situation:

I work in Thornhill (GTA).
There's not much to do here so i'm not sure whether to move here or maybe north york on the subway line or something.

>>6626716
>7X

3.5 million ask : 700k revenue = 5X revenue

Most hotels have 50% gross profit percentage. This is a 10% cap rate which seem decent in this market.

>>6627821
It doesn't benefit them lol, it just makes them debt slaves.
A lot more Canadians would own homes if they were cheaper.
The government needs to fuck off.
Raise interest rates now.

>>6627914
Gas yourself flips are literally the worst asians.

>>6621308
Listen man, I ain't even a racist or a conservative, but that shit is real.

>>6627984
what the fuck? why dont YOU get the fuck out. This is our land now poor retard

>>6628028
>what the fuck? why dont YOU get the fuck out. This is our land now poor retard
LOL This was never your land.
The chink invasion is slowing down and as living standards rise in asia they will stop coming.

Also btw I can't wait for the race war so we can blow your head off
;)

>>6628016
rising equity allows them to either refinance their mortgage to pay off other debts or to sell and move to a cheaper area. the point is that rising equity gives people options. no, a lot more Canadians wouldn't benefit from lower housing prices because i just told you, a majority of Canadians own their home.

>>6628105
>rising equity allows them to either refinance their mortgage
top kek so they can get more debt?
Do you realize how cheap houses were in the 50s and 60s?

>>6627914
Asian girls are usually gold digging whores though

>>6628082
>>6628028
>>6627984

Butt hurt whiteys are the funniest lol. Every Chad has a black Chad friend and is crushing Asian pussy. Yall are some beta cucks lol.

>>6628028
>what the fuck? why dont YOU get the fuck out. This is our land now poor retard
LOL This was never your land.
The chink invasion is slowing down and as living standards rise in asia they will stop coming.

In the future there probably be a race based civil war in the USA and it will spread to Canada.
What are you going to do then?

>>6626902
>Switzerland
>Not neoliberal

Are you retarded? They're the prime example of neoliberalism.

>>6628157
no it allows them to pay off other debts that are at a higher interest rate. i don't care how cheap houses were in the 50's, we don't live in that era anymore. a majority of Canadians benefit from rising housing prices and half of those who own a home in Canada have no mortgage. refinancing their homes helps them pay for their retirement.

>>6628165

They just speak what everyone thinks out in the open. Marriage is about social status as much as anything. Neither an Asian or White girl are marring someone poorer than them. Its just that Asian girls will tell it to you straight.

>>6628177
Actually the races are more segregated than ever and will never fully integrate LOL

Also nobody likes brown filipinos, even chads.

>leaf thread
>filled with leftist asians

At least actual asian countries are filled with right wing asians.

>>6628291
Punjab sikhs and hipster Muslims fit in will in BC. No one likes Hindus thou

>>6628238
>no it allows them to pay off other debts that are at a higher interest rate
they wouldn't have gotten into that debt in the first place if the interest rate wasn't so low

if interest rates were high like say in the 90s, houses would be much cheaper in price and would be more affordable.

We need a savings driven economy, not this debt shitshow we currently are forced to live under.

>>6628256
there's like one asian girl there and she's an ugly brown flip

gross lmao

>>6627804

>Spending isn't always a good thing.
Its not always a bad thing either.
>Artificially low interest rates that cause less underconsumption and capital investment simply result in malinvestment and waste.
No you moron. Overnight rates. Look Im sorry Im tired I dont wamt to launch in into a macro econ lecture. Just dont talk about things you arent educated in. I also never said it was "ALWAYS GOOD!" you semen slurping strawman. It also helps with rolling deficit financing.
BTw your beloved Switzerland runs some of the lowest real interest rates.
>Another keynesian fairy tale.
So then howcome I have a contract that maintains my wage even if the value of my industry tanks? how come imported videogame prices don't change daily? to meet influxes?

>No, both of you don't.
Confirmed never read Keynes. He was a macro guy but very much believed in markets and wanted to save capitalism As I said the main criticism he gets is being to overzelous on cobb douglas production.
>Man I debated with a keynesian here the other day that unironically believed that the capitalist dictates the wage of the worker and the labour market doesn't have anything to do with it.
congrats? you found anither retard who doesmt understand keynes or econ amd had a tard bout?
>Keynes wanted the state to put a price control on the interest rate.
yeah cause he saw true horrors of letting it run free?
do you actually think all markets are naturally perfectly competitive?
>If you believe in S/D you understand why price controls don't work.
hey didnt advocate price controls really.
.

What do we do about the asian invasion in Vancouver?

Is there anything that can be done?
It's sad but I imagine in 50 years from now when USA/Canada balkanizes that entire area will be known as new China or something, that's fine.
The white enthostate will be bigger.

>>6628207
by then all the poor white people will be dead from fentanyl and the chinese will assert their place as the majority in vancouver

>>6628367
>>they wouldn't have gotten into that debt in the first place if the interest rate wasn't so low

that's the not even the point of my discussion. my point is that rising property values directly benefits the majority of Canadians. i'm not here to argue ideology, im here to lay down the matter of fact.

>>6627804

>I didnt go to college
I can tell
>I'd say econ 103 is mostly garbage.
its the oversimplification and basic market introduction your silly misunderstandings spout from
.
>It is a meaningless fucking term created by leftists
TIL Mulroney and Thatcher were "leftists".
>There's nothing new or "liberal" about the modern world.
almost every western country is liberal. Just another word you clearly dont understands meaning.
>I never said it was actual socialism, just social democracy
which is a form of socialism
>In my opinion it's just leftist bullshit.
But its not leftwing...
>A real free market is far superior and has way more growth.
a neoliberal market is real. If you think there is no natural inefficiencies I can explain it to you if you want.

>No, they're economically free.
like most neolib countries.
>They have a central bank, yes
that is neoliberal
>>6627920
this is true as long as you dont measure economic growth rate, technological growth rate, standard of living growth rste, purchasing power growth rate, health standards and their growth rates and any conceivable metric of better.
>>6627837
BoC sets interest rate. Then you spurged about turdo.

>>6628435
>Its not always a bad thing either.
It's good if there is real savings to back it up, otherwise it causes malinvestment.

>No you moron.
Yes you idiot.

>Look Im sorry Im tired I dont wamt to launch in into a macro econ lecture. Just dont talk about things you arent educated in.
You don't even have an argument here, don't pretend that you do.

>It also helps with rolling deficit financing.
The government needs to dramatically cut spending anyway so those resources can be put back into the economy. End the central bank so the government can't create more money to do it's bullshit.

>BTw your beloved Switzerland runs some of the lowest real interest rates.
LOL, yes REAL ONES because they've saved enough to the point where the interest rate is naturally lowered.
Get it now?
Supply and demand should determine the interest rate, not government price controls.

>So then howcome I have a contract that maintains my wage even if the value of my industry tanks?
I didn't say they didn't exist, just that the keynesian interpretation of them is wrong.
In a deflationary economy sticky wages would be a GOOD thing.

>wanted to save capitalism
By destroying it. Looks like that's what he did.

>yeah cause he saw true horrors of letting it run free?
Yeah, a stable economy, price decreases over time, standard of living increases HOW HORRIBLE

What did we get when we let the state dictate the interest rate?
The "roaring 20s" and the great depression.
Wow.

>>6628512
>by then all the poor white people will be dead from fentanyl and the chinese will assert their place as the majority in vancouver
Nah, by that time the chinks would have turned hongcouver into a hazardous waste dump like all of china is.

>>6628519
>my point is that rising property values directly benefits the majority of Canadians
It doesn't though, it makes it so it's impossible for them to retire.
It also fucks over a large portion of the economy while enriching the rest.
I think all canadians should have a chance to succeed in a growing economy.

>>6628619
real interest is just nominal interedt minus inflation rate as in total value not usd value. 0% inflation and 1% interest is just as real as 2% inflation and 3% inflation. You are literally too stupid for me to continue this conversation I am so sorry. I cant just explain to you advanced macro context if you dont even understand what real fucking interest is. its not more genuine or less genuine. Sorry but I must stop for my mental health.

>>6628553
>I can tell
>I'm actually proud of a useless SJW degree I got into massive debt for.
Pathetic, you're unable to think for yourself.
>oversimplification
not really
>TIL Mulroney and Thatcher were "leftists".
Massive government spending and central banking is at least center left
>almost every western country is liberal
liberal as in free market?
don't tell me you're actually this stupid
>which is a form of socialism
Okay, then Canada is a socialist country because we have socialized healthcare.
Great logic.
>a neoliberal market is real.
Real?
What are you talking about?
I just said a free market is vastly superior to the current system

>that is neoliberal
lol you're brainwashed as fuck
stop using this made up bullshit meaningless term
Central banks are a form of government intervention in the market

>>6628686
how does that make it impossible for them to retire? it means they have more equity! 68.7% of Canadians own their home, half of those have no fucking mortgage at all! that statistics includes Canadians under fucking 18! rising equity allows people to retire because they can refinance their homes to pay for retirement. guess what? when they are dead, they don't need their homes anymore.

>>It also fucks over a large portion of the economy while enriching the rest.

i repeat, the majority of canadians own their own home. the 'large portion' that don't benefit is less then the portion that does.

seriously, read.

>>6628807
>>6628619
also just an fyi. Switzerland has lower nominal interest to if that makes it more REAL to you lmao. not that it impacts investment markets other than lowerbound rule.

>>6628553
>economic growth rate, technological growth rate, standard of living growth rste, purchasing power growth rate, health standards and their growth rates and any conceivable metric of better.


>DURRRRR TECHNOLOGY AND ECONOMY IS BETTER NOW THAN PRE 1913 THEREFORE FREE MARKETS DON'T WORK

We have more recessions now than we did back then, we have much LOWER growth rates than we did back then.

Cryptos are going to destroy your precious lefty central banks and there's nothing you can do about it.

When did /pol/fags become such insufferable niggers?

>>6628874
>not knowing what a GROWTH RATE is.
Okay I'm actually done now.

The real question is how do we trade the CAD right now

>>6628865
holy shit do you unironically believe there is no real rate of interest

interest is tied to how much savings is in the economy

how much money banks and investors can lend out

of course this is effected by supply and demand of money you idiot lol

>>6628970
No that was the question a week before the interest rate rise. Too late now.

>>6628844
>how does that make it impossible for them to retire?
they can never pay off their houses

>it means they have more equity!
and less savings you fucking psycho

>68.7% of Canadians own their home
That's less than it was before.

>half of those have no fucking mortgage at all!
LOL this is bullshit

before people would be able to pay off their houses in 10-15 years.
Now that is utterly IMPOSSIBLE.

>i repeat, the majority of canadians own their own home.
The ones that don't have an extremely hard time getting a home because they are so expensive
also if they rent they are getting fucked over because rent goes up

fuck you

>>6629007
no you daft cunt. investopedia real interest and understand its an econ term. not even a complex one. like everyone knows it. Its like me saying market demand and you replying about how its rude I demand things from you. Then when I laugh at you you go "No shut up demanding things from people is real! I demand hot pockets!"

>>6627891
What do you do for a living? 1400 a month in Windsor is waterfront living.

>>6619923
do most guys normally get to sleep with girls this hot

>>6629022
I thought you said white chicks were ugly and you're posting one
lmao get the fuck out

>>6629022
I'm watching it.. it's reall done fuck all yet

>>6628926
you dont know what growth rate is
I bet you think GDP = economic growth

>>6629068
lol you still don't know why interest rates are so low in switzerland
you still don't know why their currency is so strong compared with other ones, damn son

>>6629066
>>they can never pay off their houses
pumpkin, they are retiring, they don't need to pay off their houses, they need the money to pay for groceries and other things when they retire. to do that they need to refinance their homes. higher equity means more money in their pocket. the point is to die and have nothing left, not die and give the government all the money they didn't spend

>>That's less than it was before.

it's higher now then it was since 1971 genius. please google shit before you type it out.

>>half of those have no fucking mortgage at all!

Among homeowners, 57% made a mortgage payment in 2008 and the remaining 43% were mortgage-free. https://www.statcan.gc.ca/pub/75-001-x/2011002/article/11429-eng.htm#a3

>>The ones that don't have an extremely hard time getting a home because they are so expensive
also if they rent they are getting fucked over because rent goes up

you can't make the system favorable to everyone mate, the compromise is that the majority benefit.

damn son, google shit.

>>6628879
>if people are against mass immigration to Canada they're automatically /pol/
kys
leave /biz/ immediately

>>6629254
>pumpkin
Sweetie.

>they don't need to pay off their houses
lol why?
They could have paid it off in 10-15 years instead of 40 fucking years.
They could have used that extra money to retire early or enjoy their lives.

>they need the money to pay for groceries and other things when they retire
If their houses were paid off they would have savings and investments to do this with, they would have far more money to invest in these things with.

>higher equity means more money in their pocket
a slightly higher amount but they would have had that money, plus more anyway

>it's higher now then it was since 1971 genius
lol back then before the central bank started fucking with the housing market even RENT was far far lower and people didn't even bother getting a house.

>you can't make the system favorable to everyone mate
Ohhh, so that's your solution, fuck over the Millennials and gen Z'rs

Fuck off boomer scum

>>6629372
>>lol why?

because i told you, they are retiring, so there is no point in being mortgage free. refinancing allows them to live in their own homes while in retirement instead of having to rent. a higher equity allows them to draw more money out of their equity to fund their retirement.

>>If their houses were paid off they would have savings and investments to do this with, they would have far more money to invest in these things with.

what the fuck would be the point? they can't take the house to heaven or hell wherever they go when they are fucking dead, mate.

>>lol back then before the central bank started fucking with the housing market even RENT was far far lower and people didn't even bother getting a house.

that's not the point of the discussion. the point is home ownership is at a historical high for the last 46 fucking years.

>>Ohhh, so that's your solution, fuck over the Millennials and gen Z'rs

like i said, the majority benefit over the minority, welcome to democracy.

>>6628207
outnumber you basement dwelling nerds 10 to 1 and let the chinks and jungle niggers zerg rush you

>>6627956
>reasoning
>canada

>>6629501
>outnumber you basement dwelling nerds 10 to 1
no you don't lol

you monkeys are known for being low T weak minded skinny, short omega males that can't accomplish shit

also
>hate a country and it's people
>intentionally move to it and learn it's language and culture just to hate yourself more
lol do you have downs syndrome?

>>6629482
>they are retiring, so there is no point in being mortgage free
I just explained if the central bank fucked off, they could have paid it off in like 10 years and used that money for better things in their lives

Also I can guarantee the vast majority of people that don't have a mortgage are older people who paid their houses off in the eras I'm talking about.

>what the fuck would be the point?
Of HAVING MORE MONEY to enjoy your life with? LOL

>they can't take the house to heaven or hell wherever they go when they are fucking dead, mate.
That's not the point, when people are young they can pay off their houses and retire fucking EARLY and just party the rest of their lives.
That's the point.
Also they can pass this house down to their kids.
God damn you people are parasites.

>that's not the point of the discussion
But it IS. You are fucking over renters too you piece of shit.

>the point is home ownership is at a historical high for the last 46 fucking years.
It's high for the wrong reasons. A lot of people that would be better off renting are forced to get homes.

>like i said, the majority benefit over the minority, welcome to democracy.
This is horseshit.
Everyone should benefit, not just a select few.
You want a portion of society to vastly benefit while exploiting the other portion of society.
That's similar to feudalism.

Fuck off boomer.

>>6629501
also what the fuck makes you think "jungle niggers" would be on your fucking side at all?
also why are koreans so stupid?

>>6629706
>>Also I can guarantee the vast majority of people that don't have a mortgage are older people who paid their houses off in the eras I'm talking about.

no you can't if you assert a fact, you must prove it. why do i have to have this conversation? you keep trying to drag this into a ideological discussion when it isn't. i don't care what you think would've could've should've happened. the fact is that the majority of Canadians benefit from a rising property value.

>>Of HAVING MORE MONEY to enjoy your life with? LOL

anon, when you are dead, you can't take your money with you. that's why people refinance their houses when they retire or get close to it. so they can live comfortably and not give their hard earned money to the government instead of spending it on themselves.

>>Also they can pass this house down to their kids.

kids either earn their own place in society, asking for handouts? tsk tsk tsk, aren't you a ideologically opposed to handouts?

>>But it IS. You are fucking over renters too you piece of shit.

because renters don't have property rights, you understand property rights? if renters don't want to rent, they can buy, can't afford it? too fucking bad. i can't afford a lambo either, can you give me a fucking hand?

>>It's high for the wrong reasons. A lot of people that would be better off renting are forced to get homes.

mate, it's wrong because you feel it's wrong. i'm not arguing that. im merely presenting it as a matter of fact when you claimed home ownership was 'less than it was before' to quote you.

>>This is horseshit.

that's not very democratic of you mate. in any case i hope you enjoy the democratic process during your stay, remember, vote.

>>6628352
>muslims
>fitting in any western country

lmao kys

>>6629143
I was just fucking with all you racists. I don't find most Chinese girls attractive at all. However the top 10% of girls from any race are going to hot as fuck.

>>6630305
>racists
Literally everyone is racist desu
some are just more racist than others
just because you recognize race exists doesn't mean you hate other races

calm your autism

>>6621466
why would they sell a fully paid off house when they can just rent it out for $400 a week?

>>6629501
>chinks calling for race war
O pls make it happen gook. Most white in Vancouver have been dreaming of this since the early 90s

>>6630471
Im legitimately not racist but I hate muzzies.
>>6630305
Asians are a floor ceiling v.s. whites which follow a standard distribution. There are proportionately more 10/10 asians and 1/10 asians. With like no average looking asians.

>>6629372
>pumpkin, they are retiring, they don't need to pay off their houses, they need the money to pay for groceries and other things when they retire. to do that they need to refinance their homes. higher equity means more money in their pocket. the point is to die and have nothing left, not die and give the government all the money they didn't spend
My parents are dying with generational wealth. I should get a milli minimum.

>>6624060
LOL I dont leave the house from 2-7 in vancouver,city is gridlock.

>>6624911
Chinese don't rent, you don't know anything.

>>6626467
It has to be atleast 50 by now I never see white people, and they are probably just working in the City but live in Surrey.

>>6631269
where the fuck? just downtown gets bad but walk or skytrain around. Highway 1 barely gets backed up these days and only at like 7:30 in the morning.

>>6629585

>you monkeys are known for being low T weak minded skinny, short omega males that can't accomplish shit
lose your job to pajeets lose your houses to us white nigger

>hate a country and it's people
>intentionally move to it and learn it's language and culture just to hate yourself more
Nah just to take your shit that you beta cuck enjoy raising your wifes son that she got from Jamal you dumb weed smoking cracker

>>6629725
filipinos are the most powerful race

>>6630659
>Most white in Vancouver have been dreaming of this since the early 90s
>dont do shit for 20 years while you were the majority
KEK

>>6629082
You might have a good run in your early 20's if you play your cards right. All downhill after 26 bud.

>>6631597
30's are golden age for a man with his shit together.

>>6631416
Knight St is fucked good luck getting to Richmond, Main Street is fucked from Kingsway to 49, Fraser is a fucking joke park on the street for shopping stupid 60's planning, Upperlevels always fucked, Crossing the Ironworkers? Good luck mate, One lane going through the tunnel? Ferry traffic on highway 17, Good luck getting to the Port Mann all the feeder routes are plugged. Wtf are you on about traffic is horrible. You walk and skytrain your'e just hipster millennial filth, You don't know shit about the city's traffic. Fucking Robertson wants to stick another bike lane on the Cambie bridge, Can't wait for that.

>>6631683
Have another drink.

>>6631435
>this late of a reply
lmao

>lose your job to pajeets lose your houses to us white nigger
lmao wait until the market crashes dumbass
you people have NOTHING and you're still beta males

>Nah just to take your shit that you beta cuck enjoy raising your wifes son that she got from Jamal you dumb weed smoking cracker
lmao says the most cucked race on the planet

>filipinos are the most powerful race
They're ugly brown people that have lower iq than the other asians
wew

People like getting fucked in the ass by the banks.
Enjoy your raised interest.

Crypto comes along and frees the masses and normies say: NO, IT'S NOT BACKED UP BY MUH GOVERNMENTS that fuck me in the ass.
BITCOIN HAS NO MILITARY TO PROTECT MUH BANKS.

How did it get so far that people like getting cucked by ahmed fucking their wifes and daughters and the government fucking their economy and enslaving people 10 generations forward?

HOW???

>>6620917
>"So you're telling me you thought you'd buy a hotel without knowing the first fucking thing about hotels?"
>"Y-yes G-Gordon"
>"You fucking dumb bollocking twat"

>>6631742
what? nigger I drive from surrey To Burnaby everyday takes me like 30 minutes. Highway 1 barely clogs up. Richmond can get shit I will agree. North Van has rush hour but its hardly "bad" I make a rule to never drive downtown cause it takes longer and makes me want to kms. But thats not "vancouver" thats just DT everywhere. also forget the cambie bridge he wants to close the fucking viaduct. DT niggers vote for pretty shit they wont use because they don't commute.

>>6632566
>>6631742
also none of it is remotely as bad as the I5 into seattle.

>>6631901
>raised interest rates
>bad
this is what kikes actually believe

>>6632566
You live in Surrey in some pajeets basement. I actually live in Vancouver. You COMMUTE to Vancouver, and only goto Burnaby I know what the traffic patterns at different times of day and how shit they are in the City because I actually live here.

>>6633110
>I live in vancouver
Where?
if you live in the city you know less than me dumbass. "You drive to X?" "well let me tell you about all the traffic I never see!" Unless you are coming home at 7:30am everyday you have no idea lmao. "b..b...b..but it's bumper to bumper on hastings!" divert to highway 1 "but but number one road has cars on it!" that being said your whole city was zoned by monkeys. It's called left turn lanes and parking lots guys, right lane is not a parking lot.
But i digress, Saying "its bad" any time other then an accident during rush hour just shows you've never seen real traffic in a large city. Not even the worst in Canada. let alone compared to LA or even Seattle. Plus its completely avoidable in the main city desu. Only time I get slammed is Richmond.

>>6633273
I don't commute because I'm not a wage cuck lol, Seem's like you're getting a little sleepy, Better go to bed young man boss doesn't want you sleepy for your monkey job tomorrow. You are on glue, Why would I do anything during peak traffic hours when I don't need to leave the house to wage cuck? LOL The absolute state of Surrey people, thinking they're intelligent because they can tolerate traffic.

I laugh at all you idiots. I'm retired at the age of 28 and I still don't have my drivers license, and yes I'm white and live in Vancouver.

Thankyou money Skelly

>>6634228
We should be friends , Same situation but i have a car.