Oh Canada: negative amortization

[Anonymous No.55995531]

Three major Canadian banks have disclosed that about 20 per cent of their residential mortgage borrowers – representing nearly $130-billion in loans – are seeing their balances grow as their monthly payments no longer cover all the interest they owe.
How the fuck is CAD holding up? BoC will try to hold at their next meeting when the Fed raise.

[Anonymous No.55995548]

Canada is such a joke, good riddance to their economy

[Anonymous No.55995565]

How do I short Canada?

[Anonymous No.55995569]

>>55995531
That doesn't sound good

[Anonymous No.55995745]

>>55995531
needs more diversity

[Anonymous No.55995758]

>>55995569
It's the economy working CHUD. Just because you can't afford a hoome doesn't mean the rest of us have to put up with your bullshit.

[Anonymous No.55995862]

>>55995569
what are you talking about?
they banned repossessions by tacking it onto the end of the tab!
yes you have a hidden mountain of debt building up behind the scenes, yes the Fed haven't finished raising and yes the % will go up to more than the current 20%, but that's for another day.
Why be so negative? If a Canadian curse cancer, another one invents cold fusion and Montreal Impact with the Champions League then we can get out of this, no problem.

[Anonymous No.55995881]

>>55995569
it sounds great
> homes go up
> interest rates go up
> goyim pay a monthly "rent" aka mortgage rest of their lives
> leaf economy continues to prosper

[Anonymous No.55995948]

>>55995881
mind the gap

[Anonymous No.55995959]

>>55995948
investment per worker gap

[Anonymous No.55995975]

>55995959
and yet housing cost

[Anonymous No.55995980]

>>55995531
If banks create money out of thin air when they make a loan, do they lose anything when that loan is defaulted on?
If not, does the bank basically get a free house when it's foreclosed on?

[Anonymous No.55996000]

>>55995975
>housing cost

Compare rent prices to leaf salaries. That's the only graph that will need to readjust. Home ownership is dead

[Anonymous No.55996012]

>>55995569
not for you, goyim

[Anonymous No.55996015]

>>55996000
home prices will fall due to the increased cost of money
and no, banks won't buy it all up.
it's over.

[Anonymous No.55996045]

>>55996015
>and no, banks won't buy it all up.
no but corporations based on overseas money will

There will be crash. Doomers gonna doompost tho

[Anonymous No.55996607]

>>55995531
Just import more Indians and Africans.
Indians and Africans are like totem objects that magically fix economies.

[Anonymous No.55996756]

Kek what did they do about this? Put in a travel advisory for Arizona not being safe for gays lmao. I wish it wasn't safe for them.

[Anonymous No.55996780]

>>55995980
Hey cool it with the antisemitism.

[Anonymous No.55996803]

why are landlords on a mortgage allowed to just raise the rent to cover it. that basically makes it a risk free investment. the government should ban landlords from raising the rent beyond 1% per year

[Anonymous No.55996842]

>>55995959
>2014
>the year I entered the workforce
>link since ico
the simulation has created me as a non-famous brendan fraser

[Anonymous No.55996950]

>>55996803
They weren't allowed in Ontario until Dougie cancelled rent control for new builds after 2018 or something. If you live in a building built before whichever year it's still rent control and they can't kike the rates on you.

[Anonymous No.55997182]

This will continue until there's a revolution.

[Anonymous No.55997238]

I build airplane engines for a living. If the housing bubble pops and triggers a recession am I gonna lose my wagie job? Currently we can't build engines fast enough to meet market demand.

[Anonymous No.55997263]

>>55997238
you're safe. airline tickets to asia are about $3000

[Anonymous No.55997421]

Canadians are retarded and deserve the pain they are feeling and will continue to feel. They handicapped their own oil industry because they are liberal retards and it was the only thing they did well. They gave aboriginals (4% of the population) the power to veto any future project in this resource rich country creating an entrenched class of leeching rent-seekers. Again this was done because the average canadian is a left wing retard. They put a carbon tax on themselves because they think it will save the planet while china and india burn more coal every year - again, liberal retardation. Ironically, producing more natural gas for china to use instead of coal would lower global co2 but the average canadian is too retarded to understand this.

Basically, decades of retarded rampant liberalism has made it such that the only way to get ahead in Canada is through housing, the last 'industry' left. Canada's business climate is a joke, and as a result Canadians massively underinvest in businesses compared to Americans. Housing, propped up by a never ending stream of immigrants has been up until now, the safest way to get ahead. Unfortunately it has created a bubble of epic proportions, now the kids and grandkids of the gluttonous liberal boomers have no jobs, and cant afford shelter. Canada fucking sucks lmao.

[Anonymous No.55997447]

>>55997238
Those engines get exported out the country. You will probably be better off than most. It will be construction workers, small business owners, 'service' workers and banking retards who will get fucked.

[Anonymous No.55997484]

>>55997421
man shut the fuck up and hurry up with my fries already

[Anonymous No.55997556]

>>55996803
>>55996950
fuck off back to leftypol

[Anonymous No.55998186]

>>55995548
I am from Canada I hate everyone here with seething malice. Such a joke in every sense of the word.

[Anonymous No.55999231]

>>55996803
Rent on duplexes in Montreal is way below the cost of a mortgage.
Landlords are paying the difference, learn how prices are set.

[Anonymous No.55999238]

>>55997556
>defending the most jewish of all behaviors

[Anonymous No.55999241]

>>55997421
Canadians do not care about the future and their kids. The just want free money from housing, even as their own kids suffer.

[Anonymous No.55999275]

>>55997182
Never. Gonna. Happen.

[Anonymous No.55999305]

>>55995531
Shouldn’t have let Chinese and Indians soft invade to buy up all your RE
¯\_(ツ)_/¯

[Anonymous No.55999439]

>>55999305
This thread is about domestic banks preventing price discovery by sitting on unpayable mortgages. Our entire system is set up as a land pyramid scheme, in a massive, sparsely populated country.
The figure of 20% of mortgages is very high. Canada is running an extreme experiment, far beyond the USA 2008 crash.

[Anonymous No.55999477]

An international strategist is warning that Canada could be sitting on the largest housing bubble of all time.

“I've analyzed housing bubbles in the developed world and Canada’s really got a unique one to its own,” Phillip Colmar, Managing Partner and Global Strategist at MRB Partners, told BNN Bloomberg last week.

Canada has stretched house prices and weak affordability, said Colmar. He also put particular emphasis on the country’s household debt levels.

https://storeys.com/canada-largest-housing-bubble-strategist/

[Anonymous No.55999492]

>>55996015
>home prices will fall due to the increased cost of money
>and no, banks won't buy it all up.
blackrock will buy it all up. house prices are NEVER going down. they want you to rent EVERYTHING and own NOTHING

[Anonymous No.55999584]

>>55999492
Prices are going down *right now*.
So you are incorrect.
The idea this is a one-way bet is wrong.
Consider this as an alternative: Canadian institutions like the BoC are staffed with sub-standard people who fucked up big time.

[Anonymous No.55999652]

>>55995881
is the hoome sold with the remaining debt upon death, or is it passed onto the children?

[Anonymous No.56001561]

>>55995531
Aint no biggy only 40% of homes are mortgaged. Canada got all dat foreign capital baby

[Anonymous No.56001575]

1) arent guns still legal in canada?
2) is fedposting against canadian politicians illegal in the jewnited states of muttmerica?

[Anonymous No.56001619]

>>55995531
There solution? Send 3 million pajeets a year into Canada. That’s their solution for everything and it just makes things worse

[Anonymous No.56001652]

>>55996803
Where I live in BC you can’t increase rent, there are some people in my building paying $700 a month in rent while I am paying $1,400 for same room. Reason they are paying less is because they’ve been in the building for years and the legal allowable rent increase per year has been far less then actual market rates.

We get lots of land lords finding ways of kicking out old tenants so they can get new ones at higher rent but it’s against the law to just kick them out unless you or a family member plans to live their for 6 months

[Anonymous No.56001667]

>>55996950
You will be fine because there is non stop air traffic coming into Canada thanks to Canada wanting to replace it’s population with millions of pajeets every year

[Anonymous No.56001746]

>>55995531
The boomer canadian finance youtuber I watch assured me there is no housing bubble in canada because the fundementals support the prices. For example you cannot build any new homes because all land is nature preserve. He has a phd so I think this will all be fine.

[Anonymous No.56001989]

>>55997421
Yeah Lefty retard liberals have been in power for most of the 20th and 21st century. Canadians love to scream about free healthcare when the government is trying to convince everyone to kill themselves and wait times in the ER are 12 hours long. Last time I was in an ER they had patients in beds laying in the hallways because there weren't enough rooms.

>>55997263
>>55997447
phew, for once aviation doesn't get fucked in an economic downturn.

[Anonymous No.56002024]

So, Canucks. How do we, the people, fix the government's fuckups yet again?

[Anonymous No.56002068]

>>56002024
We are stuck with Trudeau until 2025, it's unironically over

[Anonymous No.56002706]

>>55999238
He wasn't talking about that kind of landlord, brainlet. Owning property is a white man's pursuit.
COPE AND SNEED

[Sean of Advice No.56002767]

>>55995531
Socialism just kills you slower than communism. We tried to tell you all but you just called us fat retards. Ultimately we were both right.

[Anonymous No.56003060]

>>55999439
Why would this ever change? Create generations of serfs who are forever indebted. Mayne we're in the end game now.

[Anonymous No.56003076]

>>56001746
The infinite niggers and shit skins you are importing will live however they are told without complaint. Smaller and smaller spaces for more and more money.

[Anonymous No.56003719]

>>56001746
he's not wrong for now.
when you drive to a small town surrounded by masses of land in many places in canada you will see a new 8 story commie block being built despite abundant room

[Anonymous No.56003820]

Europpor here, can anyone translate the fancy shibboleth into normal language
balances growing? meaning mortgagefags owe more and more?
They let you pay interest only so the outstanding debt grows or what?
asking for a friend

[Anonymous No.56003863]

>>56002767
Former generation here, lived through actual socialism
Everyone got a free dwelling
Evyrone had to work or went to jail, therefore not a dime has been wasted on gibs
The rchest gov officials had one house, bigger than normies, but that was it, no more greed for them
All the ebnterpises were state oqwned and state had all the energy infrastructure and natural resources in it's holding
what we see in the West is you-own-nothing-marxsism, not a socialism

[Anonymous No.56004625]

>>56003820
That is what I assume they would do as it is the worst thing possible for normies. Hope it's like us student loans where it appears the money is just spent on interest and the capital is never paid off. Then the bank gets the home when you die.

[Anonymous No.56004715]

>>55997421
>They gave aboriginals (4% of the population) the power to veto any future project
HOW THE FUCK DO THEY POWER? they are a failed civilization that got conquered

[Anonymous No.56004796]

>>55995531
banks can't fail again because now they are forced to carry more capital reserves.