/biz/ - Business & Finance

[Anonymous No.558407]

Canada's housing market is depressing as fuck.
Until interest rates go back up to ~5% this market will likely continue to grow.

Let's discuss.

[Anonymous No.558408]

>be me
>buy 13k worth of junior gold/silver mining shares
>waiting for the happening
>happening happens
>whole world economy implodes, including canadas real estate market
>buy a new mansion cheap from the insane profits from my mining shares

[Anonymous No.558411]

>Brampton, ON, Bangladesh

[Anonymous No.558412]

>>558407
That house is like 5 minutes away from me. Brampton is literally the worst place in the Toronto area.

[Anonymous No.558413]

>>558407

Do you live in Brampton? Are you Indian? Or are you like me, a hidden gem, a non-indian in Singhdale?

[Anonymous No.558414]

>>558411
you mean bramadash

[Anonymous No.558417]

>>558412

I feel you man, can't wait to get out of this shithole. People here think they run the entire world just because they're all together in the same city. Not to mention how terrible they are at driving, and how impossible they are to deal with.

[Some fag No.558419]

>>558408
>happening occurs
>economy implodes
>paper shares still valuable

Okay.

[Anonymous No.558422]

>>558417
It's just the first generation Indians that are the douchebags. The old turban guys that have been here for a while are actually pretty fucking awesome. They're all hilarious when you actually talk to them.

But overall, yeah, fuck em.

[Anonymous No.558426]

>>558419
Paper shares of a mining company, yea they will be because they will give real returns because of the profits that the mining companies will have with the high gold and silver price

[Anonymous No.558431]

>>558412
I am actually "5 minutes" away from that house, I saw the sign on the lawn and wanted to see how much it was going on.

My guess was off by like 100K

I'm white, i'm really indifferent about what skin color you are , as long as are 'normal'. I will take a friendly brown neighbor over some white trash people who do nothing buy loiter outside the entire summer.


Also douchebags come in all colors, not just brown skinned guys.

[Anonymous No.558433]

>>558431
Brown skinned people aren't the whole reason Brampton sucks, like I said >>558422 here some of them are pretty awesome. It's just a massively growing city without the infrastructure to keep up with it, and god damn it's horrible to insure a car here. Our rates are mindblowing because of all the fraud attempts that happen here.

I've lived at Queen and Chinguacousy for 25 years though so watching it grow into what it is now has probably just made me a bitter old man.

[Anonymous No.558435]

thornhill fag here, didn't realize i lived in one of the "upper class" town in Canada untill i went to college and kids gawked that im from thornhill, we got our house at year 2006 for 550k (my parents did), its a 5 bed room 1960s+ house with roughly 3000sq ft, now most houses here go for 900k+ in less than 8 years. is this just a terrible inflation and housing bubble? its funny because all we got is our house for investment, we have around 200k left to pay off in mortage but i wish we can move to buttfuck nowhere and retire early with before the bubble burst

[Anonymous No.558437]

Love dat housing bubble. Ah, no, actually, I hate it because the wife and I have over $100k invested in mutual funds et al and absolutely zero chance of ever owning a home in Vancouver.

In other news, inflation jumped to 2.4% annualized last month, so the Bank of Canada will be compelled to raise interest rates some time *sooner* than they might have liked. Lots of that housing debt is going to become unserviceable.

Interesting times.

[Anonymous No.558438]

>>558433
Yes the fraud is awful I agree, lots and lots of fraud.

But when you look at over provinces and how are laws are structured regarding accidents/at fault/no fault stuff and how much liability we carry its not such a huge premium.
Don't misunderstand me, I think its crazy high as it is, but saying Quebec is cheaper or BC is cheaper doesn't tell the entire reason /why/ its cheaper and its not all due to fraud.

>>558435
my dad lives near Browns line and Lakeshore, they are selling SEMI's for nearly 900K .. the new ones on Valermo
But yes, the housing market is fucked. House prices are increasing 2-3x faster than inflation YoY for the last ~12 years or so
Land is so valuable, they buy a detatched home, TEAR it down, and build 2 semi's on the property.
You can't even park more than 1 car on the drive way !


>>558437
It will be interesting when ever major city in Canada will face a budget crunch, since they will lose a lot of property tax income too

[Anonymous No.558441]

>>558407
>Canada's housing market is depressing as fuck.
At least the house looks kind of nice.

Try some ugly ass houses in Germoney:
http://www.immobilienscout24.de/expose/77476473
http://www.immobilienscout24.de/expose/74046296

[Anonymous No.558443]

I feel so conflicted about the housing market. I personally stand to benefit since I sure as hell don't want to spend 400k to buy a decent house here in Ottawa (or 400k for a shit shack in the GTA), but considering that my dad sells real estate and my mom is on a fixed income, they'd really take a hit.

Fuck it, I'll move to the states and live on the cheap until I save enough money.

[Anonymous No.558446]

>>558407
test test test

[Anonymous No.558448]

>>558407
There is gonna be a crash in next 2-3 years. The people who are professionals/high paid bluecollars are buying their 2nd/3rd properties + foreign investors are making big waves as well. Many are putting rent from other properties as income to get mortgages for newer ones, then rent them right out. It takes one margin call for the whole house of cards to come down, I say the margin call will come from China once foreign investors need cold hard cash to cover themselves on home turf.

[Anonymous No.558474]

>>558441
it can't be as depressing as Finland
>expensive
>ugly
>"modern" which is codeword for "looks like shit"
https://asunnot.oikotie.fi/myytavat-asunnot/8809754
https://asunnot.oikotie.fi/myytavat-asunnot/8803454

[Anonymous No.558504]

Nigger try living in vancouver. You should see the million dollar houses here

[Anonymous No.558505]

>>558474
>https://asunnot.oikotie.fi/myytavat-asunnot/8809754
Dem windows.
At least it's relatively new. (but you were right about ugly) ;)

However, the german houses I posted were build in the 60's and not much renovated so one would probably spend at least 50-100k€ to make them nice on the inside but they still look like shit.
Having returned from the US there is no way that I spend ~700k€ (875k USD) on a small old ass terraced house.

If feel like in the US you get much more house value for money and the US houses for ~875k$ at least look like "something".

Compare: http://www.immobilienscout24.de/expose/77476473

with
http://www.realtor.com/realestateandhomes-detail/720-Cutlass_Lakeway_TX_78734_M89031-75388?row=2

http://www.realtor.com/realestateandhomes-detail/13301-Mansfield-Dr_Austin_TX_78732_M72176-25436?row=9

http://www.realtor.com/realestateandhomes-detail/6812-Destiny-Hills-Dr_Austin_TX_78738_M70002-82756?row=20

[Anonymous No.558507]

Canada is doomed as a nation

>more household debt than america
>economy is basically financial services and oil
>oil is in free fall
>retarded government
>the only people who can afford houses are chinese communist party officials
>will be 70% non-white in 15 years

[Anonymous No.558511]

>>558507
>will be 70% non-white in 15 years
How's that a bad thing?

[Anonymous No.558520]

>>558511
lel.

[Anonymous No.558525]

>>558520
/pol/ pls go

[Anonymous No.558537]

>>558507
This asians buying up everything seems very true.
My dad said when they had the showcase open for the new development on valermo [ 900k+ semis and nearly 1M for detatched] he said it was mostly asians showing up in expensive cars.

>>558443
ah god, so many real estate agents these days.. I think we are at a peak because of all this 'easy money' close 4 deals and you've made yourself like 50K !

[Anonymous No.558542]

>>558511
>>558525
It is bad because Canadas' current infrastructure was built, developed, and fought for by mainly European descendants....

To just hand this all over to newly landed immigrants of asian, african, muslim, etc persuasion (who came to an already established nation), is not well thought out.
>check out http://www.immigrationwatchcanada.org

Many who came here (going back to 1600s), would be rolling in their graves, knowing their ancestors are letting it all go to hell in the hands of some newcomers...

Yes, we take only mostly high caliber credentialed immigration applicants.... But, we take in far too many . Also this creates a vacuum for more money each year to "leave the economy" since it gets sent back to their home countries...

>227,183
>umber of immigrants coming to Canada --- an average of close to 250,000 per year since 1991. That's 684 per day and 28 per hour

Then its a matter of time before people take advantage of the massive socialist offerings (healthcare, social services, etc) and begin bringing over their extended families, all at the expense & convenience of actual, real Canadians...

Just a few rotten apples can spoil the entire bunch, and with the current indiscretions that seems to occur... We let in too many criminals from foreign countries... We feel the pain of the US.

>>558407
It is a bubble that is just like what we saw in the USA - In less than 5 years, you should see a market correction... It is grossly over inflated.

When a 300K house in 2006 is now worth 550K ... These gains do not match rest of trends / reason. Their will be a natural correction, soon enough.

I take solace in knowing I will be able to snap up some cheap foreclosures in the coming future, so for now I am patiently waiting for land values to drop.

[Anonymous No.558549]

>>558542
>real Canadians.
what does this double talk even mean ?
What makes a REAL canadian ?
To say we let in criminals is just plain wrong.
>http://www.cic.gc.ca/english/information/inadmissibility/index.asp

This sounds too much like /pol/ shit, lumping in all immigrants together as job stealing bums that leech the system.

[Anonymous No.558560]

>>558407
>Vancouverfag
>400k for a 3 bedroom

Fuck off

[Anonymous No.558563]

>>558542
>>558549

This. Nothing prevents genuine immigrants from contributing to the system. What irks me is when they bring over their families who leech off health care, etc without having contributed to it.

IMO the law should change so that benefits are pro-rated more heavily depending on your contribution.

[Anonymous No.558564]

>>558560
Comparing Vancouver to a satellite city around Toronto..
Either way its fucked.
I've shown you what homes in Toronto go for, not much cheaper than Vancouver.

Its nuts how Toronto has more high rise buildings under development [130 , NY is second with 91] than any other city in North America , yet there is such a shortage of affordable housing.

[Anonymous No.558567]

>>558563
>What irks me is when they bring over their families who leech off health care, etc without having contributed to it.
Except that doesn't actually happen anywhere near as much as you think it does.

[Anonymous No.558568]

>>558564
Did you just find out what supply and demand is?

[Anonymous No.558569]

>>558407
It didn't help when we let the Chinese build glass condos everywhere and allow foreign ownership of those condos.

[Anonymous No.558570]

>>558563
>This. Nothing prevents genuine immigrants from contributing to the system. What irks me is when they bring over their families who leech off health care, etc without having contributed to it.

As far as I know, you have to show that you can provide for the family member if they come here.

I just feel like the rules should be tightened a bit, but then again there will always be some labor shortage.

Too many people that have been here for generations already feel like working at a gas station is beneath them, or many young people completely overlook the trades and instead go into some tech related field. Even if there was a 1:1 ratio of people to jobs, there will always be a shortage somewhere because of peoples ambitions dont line up with the job market.
>Talked to some indian security guard a while ago
>turned out he was a kidney specialist in his country
>was trying to pass all the exams in Canada
>just doing security to pay the bills

and then on the flip side
>the career trucker/cab driver from India..
But who knows theses peoples circumstances ? Should we look down on them because they don't have a job that meets OUR expectations ?
Should we really care as long as they are paying taxes ?

There will always be drains on the system, but its not an immigrant issue, its a personal character issue. Some people are just bums/leeches.

[Anonymous No.558573]

>>558407
>thinks 400k for a nice 3 bedroom home like that is expensive

come to australia brah that would buy you like maybe half a tent with a pit toilet.

[Anonymous No.558575]

>>558573
Why are we comparing apples to oranges ? Australia is called "treasure island" for a reason, because people there get ripped off until no end.
How much does a movie ticket cost in the city ? like $20 now ?

[Anonymous No.558578]

>>558575
yeah depends on the location, a ticket is probably between 10 and 20. It's the food that kills it.
>>558570
Is the final solution to this problem simply to send all societal leaches to some kind of camp?

[Anonymous No.558599]

>>558408
>>558408
This. Mining shares are the best.

[Anonymous No.558610]

>>558443
you moving to the states wont stop the pain train

just enjoy it. you didnt cause it, you cant stop it

[Anonymous No.558613]

>>558542
none of these reasons actually matter I'm afraid

you can do better

[Anonymous No.558614]

>>558575
min wage is like 18 bucks or something stupid like that

I dont know how they do it