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10213491 No.10213491 [Reply] [Original]

How do I short Canada?

>28% of respondents to a new survey said another rate increase will propel them toward bankruptcy
>44% are within $200 of insolvency every month

Will only be at 1.5% by Wednesday, but eventually hitting ~4% in a couple years.

https://www.bnnbloomberg.ca/very-concerning-28-of-canadians-fear-bankruptcy-ahead-of-bank-of-canada-decision-1.1104704

>> No.10213596

>>10213491

I live in Canada. It's fucked we're all broke and depressed.

>> No.10213606

>>10213491
This is a good thing you fucking brainlets, have cash on hand and houses will be affordable again. Thank fuck.

>> No.10213648

>>10213491
anon, it's not that bad. if interest rates rise people will simply increase the amortization terms on their mortgage. they will be in debt longer, but they won't default.

>> No.10213667

Oh no interest rates will rise from 1.25% to 1.50%

>it's fucking nothing

>> No.10213672

I'm stuck in Canada and can't escape it. Exchange rate is horrible.

>> No.10213682

>>10213667
And after 1.75%, etc and eventually crisis. It's always the same story.

>> No.10213689

Leaf here. I rent my house. Didn't want to buy the peak of this market. I can actually save money. I'm not sure how you would short Canada though. I assume the dollar will see a sharp increase if rates go up. Is that how it works?

>> No.10213697

>>10213606
BC charges a .5 to 2% wealth tax on homes that can be negated by income tax. Vancouver charges another 1% on untenanted properties. Foreign buyers/launderers have a 20% tax at purchase and are going elsewhere. Domestic buyers won't pay more that they do for Vancouver properties so shit is collapsing fast because you'd have to be fucking retarded to buy a falling knife that levies 3% of its value against you every single year. The province's wealthy are screeching autistically instead of speculating.

Except condos. Condos in the heart of Vancouver will be speculated up to 1 million before they drag and detached houses fall enough for cognitive dissonance to kick in over paying X for a condo when a house costs X+1.

>> No.10213715

There are ETFs that track Canadian stocks

Short those

>> No.10213726

>>10213491
You'd short our banks but their mortgages are mostly insured by tax payers. You really can't.

>> No.10213742

>>10213689
Buy put options on the TSX, do other OTC shorts on real estate derivatives

>> No.10213749

>>10213648
It's not just mortgages though. Retard Canadians are going all out on HELOC's, car loans, credit cards...They only pay the interest.

>Alarm bells: There are about three million HELOCs in Canada and 80% are held under readvanceable mortgages, the FCAC reports. Altogether, there are HELOC balances of more than $200 billion today, which poses a substantial macro risk to the economy.

https://www.moneysense.ca/spend/real-estate/home-equity-lines-of-credit-push-canadians-deep-in-debt/

>> No.10213794

>>10213749
mortgage debt is the only real killer. car loans, you have an asset and can cover that. credit card debt is bad but the current delinquency rate is still very small.

>> No.10213832

>>10213491
Go long USD/CAD X1000 margin

>> No.10213889

I work for one of the big 5 canadian banks and I see daily an alarming amount of people with huge debts on credit cards and lines of credits with very little money in a chequing or savings account (1000 or less).
I feel like a big crash will come but who knows

>> No.10213908

>>10213889
isn't that like the police officer saying he see's an alarming number of crimes?

>> No.10213927

leaf here. what kind of crash can we expect in terms of prices? will I be able to buy a $1m house for $100k?

>> No.10213966

>>10213908
Kind of I guess, but before I started working for the bank I never knew just how bad the amount of debt the average canadian has

>> No.10214001
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10214001

Poor as fuck leaf with debt reporting in. wat do biz, i put all my credit in crypto and its not working like u said it would

>> No.10214044

>>10214001
how much credit are we talking

>> No.10214133

Canuck here, dropped my 100k+ OSAP and moved overseas. Got PR overseas.

>> No.10214198

>>10213927
No. Look at 2014 prices at best. If they get lower than that, there has been a global collapse. You might be able to get a one bedroom apartment in a suburb of Vancouver though. You can already get a 1 bedroom on Vancouver island for that that will rent for about 1000 CAD per month.

>> No.10214248

>>10214044
at least 4k

>> No.10214301

>>10214248
That's not much in the long run, it might seem like a lot right now but just keep slowly paying it off with any extra cash you get and you'll be fine. Try to pay it off sooner than later so interest doesn't hurt as much.

>> No.10214328

>>10214301
Nah this is bad advice. Just get another credit card to pay off the first one. Trust me, I'm Jewish.

>> No.10214390
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10214390

DO IT. CRASH IT ALL DOWN.

This must end. Property values way too high and not just in Vancouver and Toronto. Several other cities have values out of comfortable reach of the middle class, hence the debt load. Companies are putting on the brakes hard in terms of hiring full-time staff and giving raises to current staff. My wageslave employer's offer to my union for the next two years is 0% wage increase across the board (currently under negotiation).

>> No.10214837

I'm in Vancouver, BC and I just hope that the housing market will crash after I make it in crypto. Owning a condo by english bay/waterfront would be so fucking comfy

>> No.10214865

>>10214837
>its a housing bubble
>the second prices fall Im going to buy property

that means its not a bubble

>> No.10214922

>>10214865
Only one resoonse like this. We need brave souls to soak up the bull traps.

>> No.10215016

>>10214837
Davi street you mean

>> No.10215046

I can’t wait to see the great just, so many people are absolute retards in terms of credit, they have 0 control. Lots of financed motorized toys all around.

>> No.10215090

>>10215016
isn't that where the gays live? you getting lonely anon?

>> No.10215131

>mfw there are 25% interest rates on credit cards and 11% on mortgage in my country

Haha, 2% rates, say whaaaat

>> No.10215280

>>10213794
how can you cover it with your asset, when it loses at least 30% of its value the moment you leave the dealership? with some models its as bad as 70%. bmw i3 comes immediately to mind- new one costs at least $50k, but you can get a used one with 10k miles, less than a year old for as low as $12k.